Picture this: youre a small business owner or a startup founder with a fresh idea and a few thousand in your pocket to make it happen. You grind away for months to create a winning product or service that you believe to be unique and release it to the world, banking on support from customers…
FILE PHOTO: Fighting to survive: Noble Group’s fate hangs on investors restructuring vote Thomson Reuters By Anshuman Daga SINGAPORE (Reuters) – Singapore-listed Noble Group Ltd faces a make-or-break shareholders’ meeting on Monday as investors vote on a $3.5 billion debt restructuring plan that its creditors and board say is vital to prevent insolvency. The company,…
Denis OBriens Digicel Group may be able to take advantage of the discounted price at which $2 billion (1.7 billion) of its bonds are trading, through a corporate restructuring that could raise funds to buy back the bonds on the cheap, according to a new research report. A report issued to clients this week by…
Telecommunications giant Optus will cut 440 jobs as the company moves to digitisation and automation in a bid to remain competitive in the mobile market. It is an attempt to improve efficiency and become a “world-class” digital service provider, an Optus spokeswoman told AAP in a statement on Wednesday. “As we continue to evolve the…
The Companies (Demerger) (Jersey) Regulations 2018 will take effect on 1 September 2018 and will provide a more flexible regime, including a quicker and more cost effective and flexible route to demergers than the use of schemes of arrangement or other more complex reorganisations. But Mr Amy says that the opportunities created by the amendments…
Optus will make 440 employees redundant as the telecommunications company restructures the business to focus on “digitisation and automation”. Employees were informed of the redundancies this morning, two week after Optus announced a 2018 quarterly profit of $154 million. An Optus spokesperson said the telco was committed to “becoming a world-class, mobile-led, digital service provider”.…
CSG has more than tripled its losses after making the decision to exit its enterprise business earlier this year forced the company to write down its assets by $116 million. The company racked up a statutory net loss after tax of $150.1 million for the 2018 financial year ending 30 June, compared to a $43.7…
FILE PHOTO: Noble Group founder and Chairman Richard Elman poses at his office in Hong Kong Thomson Reuters SINGAPORE/BENGALURU (Reuters) – Embattled commodity trader Noble Group Ltd said on Monday that its founder, Richard Elman, will not take up a previously announced position as an executive director in the restructured company, citing “personal reasons”. Once…
Poor performance in its veterinary business and a myriad of exceptional costs have drained Greencross’ (ASX: GXL) profits in FY18. The pet product retailer and veterinary specialist realised $24.2 million worth of impairments across areas including projects, investments, store assets and provisions. In the second half alone, Greencross paid $22.6 million in…
McGraths full year revenue was down 23% to $99.2 million. A $63.1 million after tax loss. The real estate market is challenging but the company says it has started its turnaround. McGrath posted a $63.1 million after tax loss, hit by difficult market conditions, lower sales, and the departure of some of the real estate…