BDx secures financing for data centre expansion in Hong Kong
SINGAPORE, May 13 (Reuters) - BDx Data Centers said on Tuesday that it has secured project financing from infrastructure credit firm Clifford Capital, Singapore's United Overseas Bank (UOBH.SI), opens new tab and Japan's Sumitomo Mitsui Banking Corporation for the development of its first hyperscale data centre in Hong Kong.
The Asia-Pacific data centre operator said in a statement that the loan marks its debut in the Hong Kong market and its third project financing facility, after two other loans in Singapore and Indonesia.
Financial details were not disclosed.
BDx added that the financing will be used for the development of, and operating expenses for, the hyperscale data centre located in Kwai Chung, Hong Kong.
BDx is a portfolio company of U.S.-headquartered infrastructure investor I Square Capital, which manages over $40 billion in assets globally, according to their websites.
BDx said in the statement that it continues to grow its portfolio in Asia rapidly with a long-term goal of deploying 1 gigawatt of capacity.
BDx's expansion comes at a time when investor appetite for data centres is growing in Asia, driven by demand for artificial intelligence and cloud computing-based services.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
21 minutes ago
- Reuters
BOJ to postpone rate hike to Q1 next year, tiny majority of economists say: Reuters poll
TOKYO, June 11 (Reuters) - The Bank of Japan will forego another interest rate hike this year due to uncertainty over U.S. tariff policy, according to a slight majority of economists in a Reuters poll who expect the next 25-basis-point increase in early 2026. Japan's central bank will slow the pace of tapering its government bond purchases from next fiscal year, a majority also said, while three in four surveyed expect the government to cut down on issuance of super-long bonds. The latest results reflect policymakers' apprehension at a time when U.S. President Donald Trump's erratic tariff policies are threatening the economic outlook and as investors are increasingly concerned about Japan's public finances. The BOJ is still pushing for tighter monetary conditions, contrasting with its peers tilting for rate cuts, with its governor Kazuo Ueda stressing the central bank's readiness to keep raising interest rates if underlying inflation approaches its 2% target. "If trade negotiations between the United States and other countries progress, global economic activity is likely to pick up," said Takumi Tsunoda, senior economist at Shinkin Central Bank Research Institute. "The timing of policy interest rate hikes is now more likely to be delayed compared to previous projections, but the BOJ is expected to implement an additional rate hike in the first quarter of 2026." None of the 60 economists in the June 2-10 survey expected the BOJ to raise rates at its upcoming policy meeting on June 16-17. Specifically, 52% of economists, 30 of 58, expected borrowing costs to stay at 0.50% at year-end, the reverse of a poll in May when 52% expected rates at 0.75% by end-2025. Interest rate futures are only pricing in about 17 basis points more of tightening from the BOJ by year-end. More than three-quarters of respondents, 40 of 51, now expect at least one 25-basis-point increase by end-March, the poll showed. Of 35 economists who specified a month for when the BOJ will next hike rates, January 2025 was the top choice at 37%, followed by 23% for October this year and 9% saying March 2025. The BOJ exited a massive stimulus programme in March last year and pushed up short-term interest rates to 0.25% in July and 0.50% in January. Just over half of respondents, 17 of 31, said the BOJ would decelerate its pace of tapering JGB purchases from the current roughly 400 billion yen per quarter beyond April next year. Of those respondents the quarterly taper size prediction ranged from 200 billion yen to 370 billion yen. The BOJ began tapering its huge bond buying last year to wean the economy off decades of massive stimulus even though it still owns roughly half of outstanding JGBs. Three-quarters of economists, 21 of 28, said the government would trim issuance of super-long bonds while the rest said the amount would not change. Yields on super-long JGBs rose to record levels last month due to dwindling demand from traditional buyers like life insurers and concern over steadily rising debt levels. Reuters reported on Monday the government is considering buying back some super-long bonds it issued at low interest rates on top of an expected government plan to trim issuance of super-long bonds in the wake of sharp rises in yields. Seventeen said the issuance of 30-year JGBs would be reduced, followed by 16 selecting 40-year and 10 choosing 20-year bonds. Survey respondents were allowed to give multiple responses. "With the auction results consistently weak, the finance ministry is facing strong pressure to reduce the amount of super-long JGBs issued from July onwards," said Kazutaka Maeda, economist at Meiji Yasuda Research Institute. (Other stories from the June Reuters global economic poll)
Time Out
an hour ago
- Time Out
Jetstar Asia will cease operations from July 31, 2025 due to increased costs and competition
Just months after launching direct flights from Singapore to Labuan Bajo and Broome, low-cost carrier Jetstar Asia announces that it will be ceasing operations this July. The news comes as a surprise to many Singaporeans, given the airline's long-standing presence as one of the go-to budget options, alongside others like Scoot and AirAsia. According to the airline, the difficult decision stems from rising supplier costs, airport charges, and aviation expenses. Heightened competition in the region has also played a part in the closure. In total, 16 routes within Asia will be impacted. Jetstar Asia's fleet of 13 Airbus A320 aircraft will be redeployed to support operations in Australia and New Zealand instead. The Qantas Group, Jetstar Asia's parent company, shares that affected staff will receive redundancy packages and employment support services. So what does this mean for Jetstar Asia customers? We've compiled the key information below: Bookings before the closure date Jetstar Asia will continue operating flights and gradually reducing its flight schedules until its final day of service. Travellers with bookings before July 31 may experience changes to their itineraries, and Jetstar will directly contact those affected. If you haven't received any updates from the airline, you can assume your flight is proceeding as planned. Do note that this closure only affects Jetstar Asia's intra-Asia operations based in Singapore. Jetstar Airways' domestic and international services in Australia and New Zealand, as well as Jetstar Japan, will continue operating as usual. You can identify the different carriers by their airline codes: Jetstar Airways (JQ), Jetstar Japan (GK), and Jetstar Asia (3K). Bookings after the closure date If your flight is scheduled for after July 31, you'll be entitled to a full cash refund. For passengers travelling to or from Australia, or between Singapore and Bali, Manila or Osaka, you may be offered alternative arrangements via other Qantas Group carriers. Jetstar Asia will contact eligible customers directly. If your booking was made through a travel agent, you'll need to liaise with them for further assistance. Can I still book flights before Jetstar Asia shuts down? Yes – flights up to July 31 remain available for booking. So if you're looking to fly with Jetstar Asia one last time, now's your chance. Can I cancel my existing booking? Jetstar Asia is offering increased flexibility for those who no longer wish to travel before the shutdown. You may be eligible for a refund or alternative arrangements – check with the airline directly for your options. What about Jetstar vouchers? If you hold a Jetstar voucher related to Jetstar Asia, the airline will contact you in August to convert the remaining value into a cash refund. However, vouchers that expire before June 11 will not be eligible for reimbursement. What happens to Club Jetstar memberships? Singapore-based Club Jetstar members will receive a full refund of their annual membership fee. Memberships will be cancelled, with refunds processed from August and credited to the original payment card. If the refund fails, Jetstar will reach out via your registered email for further instructions. Do note that memberships expiring before June 11 will not be refunded. Here are the official statements released by Qantas Group and Jetstar Asia. Stay updated via Jetstar Asia's website.
Reuters
an hour ago
- Reuters
China's Foshan Haitian aims to raise over $1.2 billion in Hong Kong listing
June 11 (Reuters) - Foshan Haitian Flavouring and Food Co ( opens new tab, one of China's biggest condiment makers, is aiming to raise as much as HK$9.56 billion ($1.22 billion) through a Hong Kong listing, marking a fresh signal of recovery in domestic capital markets. The Shanghai-listed firm is offering 263.2 million H shares for a maximum offer price of HK$36.30 apiece, according to a filing made with the Hong Kong Stock Exchange on Wednesday. The offer price would be no less than HK$35 per share, the company said. Haitian expects to list its shares in Hong Kong on June 19. The company, which is also listed in Shanghai, said it plans to use the proceeds from the share sale to make new products and strengthen its overseas supply chain, among other initiatives. Reuters reported in May that the condiments maker had received approval from the local bourse operator to list in Hong Kong and was looking to raise around $1 billion. Foshan Haitian said it has maintained its position as China's largest condiment producer by volume for 27 consecutive years, boasting a market share twice that of its nearest competitor. Its soy sauce and oyster sauce products hold the top spot in market share, according to preliminary filings submitted to the Hong Kong Stock Exchange. Foshan Haitian's offer is the latest sign of a revival in Hong Kong's equity capital markets, which have been subdued for the past two years. The deal would make Haitian join other mainland-traded companies that are attempting to make a foothold in Hong Kong, including the likes of CATL ( opens new tab and Jiangsu Hengrui Pharmaceuticals ( opens new tab. China International Capital Corp, Goldman Sachs Group and Morgan Stanley are joint sponsors of Haitian's listing. ($1 = 7.8479 Hong Kong dollars)
