-- Mermaid Maritime (SGX:DU4) unit Mermaid Subsea Services (Thailand) and Serikandi Oilfield Services established a joint venture company in Brunei named Serikandi Mermaid SDN, according to a Monday filing with the Singapore Exchange.
The new business will focus on offshore transportation and installation; inspection, repair, and Maintenance; decommissioning; and pipeline projects in Brunei.
Phillips 66 (PSX) said Tuesday its UK subsidiary has completed the acquisition of assets and associated infrastructure of Prax Lindsey Oil Refinery.The deal, unveiled in January, will see the assets integrated into Phillips 66's Humber Refinery operations in North Lincolnshire, the company said.The Humber Refinery produces sustainable aviation fuel, graphite coke for electric vehicle batteries, petrochemical feedstocks and transportation fuels, according to Phillips 66.
Vardhman Special Steels' (NSE:VSSL, BOM:534392) profit after tax rose to 339.8 million Indian rupees in the fiscal fourth quarter ended March 31, from 197.3 million rupees a year ago.Earnings per share came in at 3.51 rupees from 2.41 rupees, the steel manufacturer said in a filing to the Indian stock exchanges on Tuesday.Revenue from operations in fiscal Q4 also increased to 4.58 billion rupees from 4.28 billion rupees a year ago.The company's board recommended a dividend of 3.5 rupees per share for the financial year ended March 31.The company's shares were up over 10% in recent trade.
The Indonesian government is looking to grow its second quarter GDP to 5.7%, The Jakarta Post reported Monday."We will give the economy a push" to achieve the target growth, Finance Minister Purbaya Yudhi Sadewa said while speaking at a media briefing April 24 , according to the report.He added that a focus on expedited government spending and enhanced budget management may also be used to support the growth.An increase of over the usual 5% will be pushed despite adverse external conditions amid the ongoing Middle East conflict.GDP growth in the first quarter is also expected to surpass 5% due to a surge in consumer spending in Ramadan and Eid ul Fitr Holidays, and a base effect as the Q1 GDP in 2025 was relatively low.Statistics Indonesia (BPS) will announce Q1 GDP next week, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)