
Samtel Avionics partner with Royal Malaysian Air Force for Su-30MKM aircraft
Aerospace Technology Systems Corp.
Sdn. Bhd. (ATSC) to jointly support the
Royal Malaysian Air Force
's (RMAF) fleet, particularly the
Su-30MKM aircraft
, with cutting-edge avionics systems, repair and overhaul services and post-sales support.
Under the agreement, ATSC and Samtel will jointly support RMAF in Malaysia for the repair, upgrade, technical services, and post-sales support related to aircraft display systems, avionics components, and automated test equipment of Su-30MKM aircraft and other RMAF aircraft in Malaysia.
"The companies also agree that ATSC will procure avionics, aircraft display systems and automatic test equipment for Su-30MKM aircraft and other RMAF aircraft from Samtel," said the official statement.
'This partnership is a significant milestone in our global growth journey,' said Puneet Kaura, Managing Director & CEO, Samtel Avionics. 'It aligns perfectly with our vision of providing indigenous, world-class avionics solutions to allied nations while fostering long-term industrial partnerships. Through ATSC's strong local footprint and our technology leadership, we are confident of delivering exceptional value to the Royal Malaysian Air Force.'
ATSC, which already holds a binding contract to provide MRO services for the RMAF's Su-30MKM fleet, will leverage this collaboration to become the centre of excellence for all related services, including spares, upgrades, modernisation, and technical support. Samtel, in turn, will supply advanced avionics and display systems, while supporting local capability development through knowledge transfer and sustained engagement.
Live Events

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)

Business Standard
a minute ago
- Business Standard
Jio Financial shares gain as board approves ₹15,825 crore fund raise
Shares of Jio Financial Services rose over 3 per cent after the company's board approved a ₹15,825 crore capital infusion from its promoter entities through a preferential issue of warrants. The company's stock rose as much as 3.56 per cent during the day to ₹331.7 per share, the highest level since July 11 this year. The stock pared gains to trade 2.9 per cent higher at ₹329.7 apiece, compared to a 0.27 per cent decline in Nifty 50 as of 11:28 AM. Shares of the company have recovered nearly 65 per cent from their March lows and currently trade at 3.5 times the average 30-day trading volume, according to Bloomberg. The counter has risen 10 per cent this year, compared to a 4.8 per cent advance in the benchmark Nifty 50. Jio Financial has a total market capitalisation of ₹2.08 trillion. Track LIVE Stock Market Updates Here Jio Financial board approves fund raise The company's board approved a ₹15,825 crore capital infusion from its promoter entities through a preferential issue of warrants. The funds will be raised through the issuance of 50 crore warrants priced at ₹316.50 each, convertible into one equity share of face value of ₹10 at a premium of ₹306.50, the company said in a stock exchange filing. According to the company statement, the warrants will be allotted to two promoter group entities- Sikka Ports & Terminals Ltd. and Jamnagar Utilities & Power Pvt. Ltd – subject to shareholder and regulatory approvals. Upon full conversion, the promoter group's combined stake will rise by 10.17 per cent. The Ambani family-owned promoter entities currently own a 47 per cent stake in the company. On July 19, Jio Financial Services entered a 50:50 reinsurance joint venture agreement with Munich-based Allianz group through its wholly-owned subsidiary Allianz Europe B V. The company also signed a non-binding agreement with the Allianz group to form additional joint ventures in India's life and general insurance sectors. Jio Financial Services Q1 results The company reported a marginal rise of 4 per cent in its net profit year-on-year (Y-o-Y) to ₹325 crore in the first quarter of the financial year 2026 (Q1FY26) from ₹313 crore, mainly due to a rise in expenses. On a sequential basis, profit after tax increased 2.7 per cent. The company's revenue from operations increased 47 per cent to ₹612 crore, as compared to ₹418 crore in the year-ago period. However, total expenses increased by 228 per cent to ₹260.51 crore. Finance costs were ₹98.8 crore during the reporting period, which was negligible in the year-ago period.


Mint
a minute ago
- Mint
What we know about six Indian companies sanctioned by Donald Trump's administration for trade with Iran
The Donald Trump administration has sanctioned six Indian companies for trading with Iran, specifically the embattled middle-eastern countries' petroleum, and petrochemical industries. The full sanction list included a total of 13 companies from India, China, Indonesia, Turkiye, and the United Arab Emirates (UAE). Notably, this came after Donald Trump said that trade negotiations with India would continue, even after the US slapped a 25 per cent tariff and penalties on the country, for purchasing Russian oil. According to an official statement, the United States government said that the 13 entities being targetted for action, have 'engaged in the trans-shipment, sale, and purchase of Iranian-origin petrochemicals'. The move, it added, comes the US views Iran's petrochemical industry and exports as 'a critical sector of the Iranian economy, and have grown in recent years to generate billions of dollars in illicit funds for Iran's destabilising activities'. Kanchan Polymers: The US statement said that Kanchan Polymers has been recorded to have imported and purchased 'over $1.3 million worth of Iranian-origin petrochemical products', including polyethylene, from a sanctioned Iranian company named Tanais Trading. It added, 'Kanchan Polymers is being designated for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran.' Alchemical Solutions: The report said that this petrochemical trading company imported and purchased Iranian-origin petrochemical products valued at over $84 million from multiple companies between January and December 2024. Adding, 'Alchemical Solutions is being designated for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran,' it said. Ramniklal S Gosalia and Company: As per the report, the petrochemical company that imported and purchased Iranian-origin petrochemical products valued at over $22 milion, including methanol and toluene, from multiple companies between January 2024 and January 2025. It said, 'Ramniklal is being designated for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran.' Jupiter Dye Chemical: An India-based petrochemical trading company that has imported and purchased Iranian-origin petrochemical products, including toluene, valued at over $49 million from multiple companies between January 2024 and January 2025. It is 'being designated for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran,' it said. Global Industrial Chemicals: India-based company that has imported and purchased Iranian-origin petrochemical products, including methanol, valued at over $51 million from multiple companies, between July 2024 and January 2025. It is 'being designated for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran,' the statement added. Persistent Petrochem: An India-based company that has imported approximately $14 million worth of shipments containing Iranian-origin petrochemicals, such as methanol, from multiple companies, including from Bab Al Barsha, with shipping dates between October 2024 and December 2024. The statement said the company 'is being designated for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran'. The statement added that the US government is 'willing to remove persons from the SDN List consistent with the law' and that the goal is 'not to punish, but bring about a positive change in behaviour'. Those affected can try the following step to appeal the sanctions: Petitions for removal may be sent to: OFAC. Or use this email: Reconsideration@ Further, petitioners may also refer to the Department of State's Delisting Guidance page.

The Hindu
a minute ago
- The Hindu
Tamil actor ‘Powerstar' Srinivasan held by Delhi Police over ₹5-cr loan fraud
The Economic Offences Wing (EOW) of Delhi Police has arrested Tamil actor and self-styled doctor S Srinivasan, popularly known as Powerstar, in connection with a ₹5-crore loan fraud case, an officer said on Wednesday. Srinivasan, who had been evading trial since 2018 and was declared a 'proclaimed offender' twice, was arrested in Chennai, the Delhi Police said in a statement. According to the statement, the actor allegedly posed as a financier and duped a Delhi-based company of ₹5 crore, promising to secure for it a ₹1,000 crore loan. The money was later found to have been diverted for film production and personal use. "The accused had been absconding for several years and was finally apprehended on July 27 from Vanagaram in Chennai. He has been remanded to judicial custody," Deputy Commissioner of Police (EOW) Ravi Kumar said. According to the complaint, a private firm was allegedly cheated by a group of persons, including Henry Lalremsanga, Deepak Banga, Anil Varshney, and Ramanuja Muvvala, in 2010. "These people claimed to be expert consultants capable of securing high-value funding for hotel and corporate infrastructure projects," said the DCP. They introduced the complainant to S Srinivasan, who introduced himself as the proprietor of a trading company and claimed he could secure the company a ₹1,000 crore loan. As part of the deal, the complainant paid Srinivasan ₹5 crore, ostensibly to purchase adhesive stamps (0.5 per cent of the loan amount), a standard fee in such transactions. However, no loan materialised, and a post-dated cheque of ₹5 crore, issued as security by Srinivasan, bounced due to insufficient funds, police said. During the investigation, the officer said, police found that on December 27, 2010, a sum of ₹5 crore was transferred to the account of the trading company and later moved to accounts controlled by Srinivasan and his wife. Of this money, he withdrew ₹50 lakh and transferred the remaining amount to a joint account, from which a fixed deposit of ₹4 crore was created. Officials said Srinivasan failed to provide any documentation to prove that he had purchased adhesive stamps, which revealed his fraudulent intent. "He was first arrested during the course of investigation but later released on interim bail in 2013 after assuring the court that he would repay ₹10 crore in 15 days. However, he only deposited ₹3.5 lakh and went underground," said the officer. The actor was first declared a proclaimed offender in April 2016. Though re-arrested in March 2017 and granted bail in June the same year, he again absconded, leading to his being declared a PO a second time in November 2018. In their pursuit for him, police zeroed in on his location at Golden Treasure Apartment in Vanagaram in Chennai, and arrested the 64-year-old on July 27. Popularly known as "Powerstar" in the Tamil film industry, Srinivasan has been associated with films as a comedian, producer, and singer. He even projected himself as a politician. He holds a diploma in acupressure from a Chinese university, acquired through distance learning. His passion for cinema led him to establish a trading company in Chennai, through which he allegedly lured businessmen with promises of large bank loans. Srinivasan has acted in several Tamil films. Police said he is also named in six other cases in Chennai for similar offences.