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March 30 (Reuters) – Singapore-based Mapletree Logistics Trust (MAPL.SI) on Thursday announced plans to acquire a few logistics properties in Japan, Australia and South Korea for a combined value of S$913.6 million ($686.97 million).

The acquisition plan chimes with Mapletree’s strategy to expand its footprint across the Asia Pacific markets, and ramp up its portfolio with more modern logistics assets.

The Asia-focused logistics REIT is in talks to acquire properties in Jiaxing, China for an estimated 1.08 billion yuan ($156.84 million), and is also looking at a potential divestment of a non-core property in Hong Kong for S$100.3 million ($75.37 million).

Mapletree said in a statement that it may consider selective divestment of non-core assets and attempt to redeploy the capital into investments of modern logistics assets with higher growth potential.

The REIT also launched an equity fundraising via private placement to raise proceeds worth S$200 million, according to a term sheet seen by Reuters.

The indicative price range was S$1.610 to S$1.649 per share, according to the sheet. The REIT plans to use the proceeds to fund the acquisitions and repay existing debt.

DBS (DBSM.SI), Citi (C.N), HSBC (HSBA.L) and UBS (UBSG.S) are joint global coordinators and bookrunners of the placement.

($1 = 1.3299 Singapore dollars)

($1 = 6.8862 Chinese yuan)

($1 = 7.8484 Hong Kong dollars)

Reporting by Harish Sridharan in Bengaluru, Yantoultra Ngui in Singapore and Scott Murdoch in Sydney; Editing by Sherry Jacob-Phillips

Our Standards: The Thomson Reuters Trust Principles.

Lotus Technology Inc. has successfully completed its first delivery of Eletre, its first fully electric hyper SUV. The delivery ceremony was held at the Shanghai International Circuit F1 track. Eletre has fully embedded L4-ready hardware with the world’s first deployable LiDAR system and is powered by Lotus’s proprietary 800-volt Electrical Performance Architecture. The first delivery marks a key milestone in Lotus’s transformation into an advanced, fully electric, intelligent, and sustainable luxury mobility provider ahead of its 80th anniversary in 2028. The company is now rolling out further deliveries across China and will begin delivery in the UK and EU later this year.

Lotus Technology Inc., a leading global luxury electric vehicle maker, has successfully completed its first delivery of Eletre, its first fully electric hyper SUV. The delivery ceremony was held at the Shanghai International Circuit F1 track in conjunction with the 75th anniversary of the Lotus brand.

Eletre is a luxury lifestyle vehicle that integrates Lotus’s 75 years of racing heritage and engineering expertise. It features superior aerodynamics and design, along with innovative technologies such as fully embedded L4-ready hardware with the world’s first deployable LiDAR system. The SUV is powered by Lotus’s proprietary 800-volt Electrical Performance Architecture, delivering a sportscar-like experience and enabling Lotus Tech’s 420-kilowatt supercharging solution. As of January 31, 2023, Lotus had received more than 5,000 Eletre orders worldwide.

The first Eletre delivery marks a key milestone in Lotus’s transformation into an advanced, fully electric, intelligent, and sustainable luxury mobility provider ahead of its 80th anniversary in 2028. The company is now rolling out further deliveries across China and will begin delivery in the UK and EU later this year. Planning is also underway for future delivery to the U.S. and the rest of the world, leveraging the brand’s global network.

Mr. Qingfeng Feng, Chief Executive Officer of Lotus Tech, stated, “Eletre is a crucial part of our plan to transform Lotus into a truly global electric car brand. We are a pioneer in the decarbonization of luxury automobiles, and the delivery of Eletre has demonstrated our capability to lead the energy transition and steer the industry towards a more sustainable future.”

Lotus Technology Inc., headquartered in Wuhan, China, has operations across China, the UK, and the EU. The Company is dedicated to delivering luxury lifestyle battery electric vehicles including SUVs and sedans with a focus on world-class R&D in next-generation automobility technologies such as electrification, digitalisation, and more.

This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”). These forward-looking statements are based on current expectations, estimates, and projections about the Company’s business and prospects, as well as management’s beliefs and assumptions, and are not guarantees of future performance, conditions, or results of operations, and involve inherent risks and uncertainties, many of which are beyond the Company’s control. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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NEW YORK–(BUSINESS WIRE)–On February 27, Javer was distinguished anew as a socially responsible company after appearing on the preliminary list of recipient firms of the 2023 ESR Distinction (ESR is the Spanish acronym for corporate social responsibility), to companies with sound CSR (Corporate Social Responsibility) practices. This is the sixth time in a row that the Construction Firm achieves this accolade.

The renewal of its ESR Badge is a new demonstration of Javer’s unwavering commitment to sustainability. In recent years, the Company has intensified its ESG efforts, adopting a CSR model aligned with the ISO 26000 standard, to identify areas of impact and prepare comprehensive solutions that contribute to: i) ensuring the well-being of its associates; ii) environmental preservation; and iii) making a positive impact on society.

For the first objective, the Company follows a three-pronged approach: Training and Talent Development; Occupational Health and Safety; and Job Satisfaction. Through this, the Company fosters a healthy & safe work environment that utterly promotes gender equality and equal opportunities, for its associates to grow as professionals while enjoying competitive salaries and benefits.

On the environmental front, Javer counts on various initiatives that invite its associates and the public to join the fight against climate change, highlighting its traditional tree planting and flora rescue programs, as well as its recycling campaigns.

Thanks to such initiatives, Javer boasts a track record of roughly 52,000 trees planted (18,975 in 2022); over 19,000 plants rescued (1,239 in 2022); 4,690 sprouted trees (1,000 in 2022) and 1,760 sprouted cacti (1,200 in 2022); and up to 29,000 kg of recycled material (6,700 kg in 2022).

Finally, social-wise, the Housing Firm has 22 community centers distributed over the communities where it is present. These centers serve as the ideal place for Javer to conduct different activities aimed at supporting those most in need and making a positive impact in the community.

It is expected that Javer will continue on the same path, faithful to its aspiration to become a leader in Corporate Social Responsibility for the sector and the country, endorsing its status as a Socially Responsible Company year after year.

Read the full release at: Emerging Exchange

Contacts

Ricardo Avila

info@emergingexchange.com
+1 646 419 4004

HOUSTON–(BUSINESS WIRE)–The Greater Houston Port Bureau (“Port Bureau”) Board of Directors is pleased to announce the appointment of Captain Eric Carrero as President. Captain Carrero has 26 years of service in the U.S. Coast Guard (“USCG”) and currently leads the Waterways Management Division for the USCG’s Eighth District, which encompasses 26 states and some of the busiest ports in America. Captain Carrero is retiring from the USCG in May.

Bernt Netland, the Chairman of the Port Bureau Board said, “Captain Carrero’s extensive maritime knowledge and working experience in our Houston port region will be a great benefit for the Port Bureau. He was assigned to the Houston area from 2013-2021 and ultimately served three years as the Commanding Officer of the Marine Safety Unit Texas City.”

“We are excited to have Captain Carrero taking the helm for the Port Bureau on July 1,” added Vincent DiCosimo, First Vice Chair of the Port Bureau Board. “His experience in international affairs, port and vessel operations, and 26 years of Coast Guard leadership made him the perfect fit to continue what Captain Diehl brought to the Port Bureau.”

Captain Carrero succeeds Captain Diehl who is retiring after 14 years as the President of the Port Bureau. Over those 14 years the Port Bureau has grown from 95 companies to 260 companies and has become the primary business advocate for the greater Houston Port region. Netland added his “sincere thanks to Captain Diehl for his vision and tireless enthusiasm for the Port Bureau during his very successful tenure.”

“I am very happy to return to the Houston-Galveston port community. It will be an honor to work with a strong dedicated team, engaged member companies, and government leaders in advancing business in our port community. I appreciate the confidence of the Board of Directors and am eager to start,” Captain Carrero said.

Captain Carrero holds a bachelor’s degree in biology from the University of Puerto Rico and a master’s degree in environmental management and policy from the American Public University System.

About the Greater Houston Port Bureau

The Greater Houston Port Bureau is a non-profit maritime trade association with over 260 member companies working together to advance the port region. The Port Bureau identifies and prioritizes the top issues impacting the port. We advocate solutions championing immediate and long-term value for the maritime industry, Houston, the state of Texas, the nation, and globally. For more information, visit www.txgulf.org or call 713-678-4300.

Source

KIDPIK To Announce Fourth Quarter and Fiscal 2022 Financial Results on March 31, 2023

NEW YORK–(BUSINESS WIRE)–Kidpik Corp. (NASDAQ: PIK) (“KIDPIK” or the “Company”), an online clothing subscription-based e-commerce company, today announced that it will report its fourth quarter and fiscal 2022 financial results after the market close on Friday, March 31, 2023. Management will host a conference call on Monday April 3, 2023 at 4:30 PM Eastern Time (1:30 PM Pacific Time).

The live call will be accessible on the investor relations section of the KIDPIK website at https://investor.kidpik.com, as well as by teleconference at 1-833-816-1388 or at 1-412-317-0481 for international callers.

A replay of the conference call will be available approximately three hours after the conclusion of the call on the investor relations section of the KIDPIK website at https://investor.kidpik.com or by dialing 1-844-512-2921, or 1-412-317-6671, internationally, with the Replay Pin Number: 10177169. The replay will be available until April 10, 2023.

About KIDPIK Corp.

Founded in 2016, KIDPIK (NASDAQ: PIK) is an online clothing subscription box for kids, offering mix-&-match, expertly styled outfits that are curated based on each member’s style preferences. KIDPIK delivers a surprise box monthly or seasonally, providing an effortless shopping experience for parents and a fun discovery for kids. Each seasonal collection is designed in-house by a team with decades of experience designing childrenswear. KIDPIK combines the expertise of fashion stylists with proprietary data science and technology to translate kids’ unique style preferences into surprise boxes of curated outfits. We also sell our branded clothing and footwear through our e-commerce website, shop.kidpik.com/. For more information, visit www.kidpik.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230329006016/en/

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SEOUL, March 30 (Reuters) – The ratio of U.S. dollar-denominated assets in South Korea’s foreign exchange reserves climbed to the highest on record at the end of 2022 on the dollar’s rally during the year, the country’s central bank said on Thursday.

The Bank of Korea said in its annual report that U.S. dollar assets accounted for 72.0% of the total foreign exchange reserves, up from 68.3% a year before and the highest since 2007, when annual data began to be released by the central bank.

It said the increased ratio of dollar assets was related to the currency’s strength against most other currencies, although it did not disclose further details such as figures for other currencies.

South Korea’s foreign exchange reserves, measured in U.S. dollars, amounted to $423.16 billion at the end of 2022, marking the ninth-largest in the world, the central bank said.

The ratio of stocks rose to 11.4% of the total reserves at the end of 2022 from 10.4% a year before, also marking the highest on record, although it was still small compared to about 80% for bonds. (Reporting by Choonsik Yoo; Editing by Muralikumar Anantharaman)

By Sabrina Valle

HOUSTON, March 29 (Reuters) – Exxon Mobil Corp on Wednesday bid for offshore blocks to store carbon dioxide underground during a government oil and gas lease sale in the U.S. Gulf of Mexico, while rivals Chevron Corp and BP Plc targeted areas for production.

The largest U.S. oil company has been selling oil production blocks in the U.S. Gulf since 2018 as it shifts to more lucrative fields elsewhere. And yet, it bought dozens of blocks in the past couple of years in the same basin with a new purpose: burying carbon dioxide instead of pumping oil.

The government oil license auction generated $264 million in high bids, according to the Bureau of Ocean Energy Management. 

Chevron was the most active bidders offering $108 million in 75 high bids – more than all the other oil majors combined, according to energy consultants Wood Mackenzie. 

A Chevron spokesperson said the No. 2 U.S. oil company was pleased with the auction results and intends to further evaluate the blocks’ potential. 

BP offered $47 million for 37 blocks. The company said it wants to expand its deepwater oil and gas production in the U.S. Gulf, which has “some of the lowest-cost and lowest-emissions barrels” in the company’s portfolio.

Exxon’s bids totaled less than $10 million for all 69 blocks where it was high bidder. The land was just off the Texas coast adjacent to areas it previously acquired, the BOEM indicated. 

The company will work with the Department of Interior on plans for the blocks once they are awarded, Exxon spokesperson Todd Spitler said, declining to comment on commercial details. 

Exxon chose shallow water areas close to the largest U.S. refining and petrochemical complex. The blocks fit with the company’s plan to develop a carbon capture and storage (CCS) business close to the Houston Ship Channel, home to dozens of oil and chemical plants, says Justin Rostant, principal research analyst at Wood Mackenzie.

Exxon has proposed a large carbon storage and hydrogen hub in the area, and last year signed its first deal offering decarbonization services for high-polluting industries in the region. It plans to build a large-scale hydrogen plant for 2027 that will include carbon storage. 

(Reporting by Sabrina Valle in Houston and Nichola Groom in Los AngelesEditing by Marguerita Choy)

(c) Copyright Thomson Reuters 2023.

TOKYO, March 30 (Reuters) – Mizuho Financial Group said on Thursday that it will scrap a joint project with Line Financial to develop smartphone-based Line Bank due to a lack of additional investment and delays in creating the service. (Reporting by Mariko Katsumura; Editing by Christian Schmollinger)

March 30 (Reuters) – Australian shares on Thursday jumped to their highest in more than two weeks, boosted by mining stocks, while technology names tracked gains in their peers on Wall Street.

The S&P/ASX 200 index rose 0.9% to 7,114.1 by 2357 GMT, after adding 0.2% on Wednesday.

U.S. stocks rallied overnight, with all three major indexes ending up at least 1%, as upbeat outlooks from Micron Technology and other companies eased some worries about the country’s economic health.

In Sydney, mining stocks led the gains. The index climbed 1.6% to hit a near three-week high after iron ore prices jumped on optimism around steel demand in China.

Sector behemoths BHP Group, Rio Tinto, and Fortescue Metals added between 1.6% and 2.4%.

Financials rose 1%, with the “Big Four” banks trading 0.7%-1.4% higher.

Technology stocks jumped 1.5%, with ASX-listed shares of Block Inc and Xero adding 2.7% and 1.1%, respectively.

Zip Co Ltd soared 12% to hit a more than five-week high. The BNPL firm said it will divest its businesses in Central and Eastern Europe and South Africa, and is on track to shut down its operations in the Middle East.

Shares in healthcare and real estate companies also boosted the ASX200 with gains of 0.3%-0.7%.

Asset manager HMC Capital, whose shares were yet to resume trading, said it will buy 11 private hospitals from U.S.-based Medical Properties Trust for A$1.20 billion ($802.08 million).

Bucking the broader trend, gold explorers fell 1%, underpinned by weaker bullion prices. Northern Star Resources and Newcrest Mining dropped 0.6% and 1.2%, respectively.

Iress Ltd and Lake Resources were the top gainers on the ASX200.

New Zealand’s benchmark S&P/NZX 50 index rose 0.6% to 11,805.3 points. (Reporting by Rishav Chatterjee in Bengaluru)