Latest news with #CaymanIslands
South China Morning Post
a day ago
- Business
- South China Morning Post
Wall Street's top regulator singles out China, as it eyes new rules on foreign firms
Wall Street's top regulator took a step toward toughening rules for foreign companies listed on American stock markets on Wednesday, saying many Chinese firms in particular unduly benefited from having to make fewer regular disclosures to investors. The US Securities and Exchange Commission voted unanimously to call for public comment on possible new regulations that would narrow the definition of those foreign companies, known as foreign private issuers, that are required only to produce annual reports and occasional updates. US firms trading on the same stock exchanges fall under the full scope of American securities laws, including quarterly financial reporting, proxy solicitation rules and prompt disclosure of events such as mergers and the departures of board members. If adopted, any new regulations could make it more costly and challenging for many foreign companies to tap US equity markets. At a public SEC meeting, Paul Atkins, the newly installed Republican chair, said 55 per cent of foreign private issuers were traded only in the United States and of those, the majority were Chinese firms incorporated in the Cayman Islands. US Securities and Exchange Commission Chairman Paul Atkins testifies before a Senate Committee on Appropriations subcommittee hearing in Washington on Tuesday. Photo: AP A congressional study last year found that 90 per cent of the 265 US-listed Chinese companies were not traded outside the United States.
Daily Mail
3 days ago
- Entertainment
- Daily Mail
Below Deck: Trailer, certificate and where to watch
Reality series following life for crew and guests on board Caribbean superyachts in the charter season 2013-
Associated Press
3 days ago
- Business
- Associated Press
Consolidated Water Increases Dividend and Declares Third Quarter Cash Dividend of $0.14 per Share
GEORGE TOWN, Cayman Islands, June 02, 2025 (GLOBE NEWSWIRE) -- Consolidated Water Co. Ltd. (NASDAQ Global Select Market: CWCO), a leading designer, builder and operator of advanced water supply and treatment plants, has increased its quarterly cash dividend and declared a dividend of $0.14 per share for the third quarter of 2025. This third quarter dividend of $0.14 per share represents an increase of 27.3% from the second quarter 2025 dividend of $0.11 per share. The cash dividend is payable on July 31, 2025 to shareholders of record at the close of business on July 1, 2025. 'Our continued positive and consistent financial performance in our retail, bulk and manufacturing segments has resulted in increased cash flows and liquidity for our company,' stated Consolidated Water president and CEO, Rick McTaggart. 'These results, along with the cash from our settlement of the Mexico arbitration last year and our positive outlook for our services segment, has led to the decision by our board of directors to increase our quarterly dividend for our stockholders.' The company recently reported revenue of $33.7 million and earnings per share of $0.30 in the first quarter of 2025. About Consolidated Water Co. Ltd. Consolidated Water Co. Ltd. develops and operates advanced water supply and treatment plants and water distribution systems. The company designs, constructs and operates seawater desalination facilities in the Cayman Islands, The Bahamas and the British Virgin Islands, and designs, constructs and operates water treatment and reuse facilities in the United States. The company has underway a $204 million design-build-operate project for a seawater desalination plant in Hawaii. The company also manufactures and services a wide range of products and provides design, engineering, management, operating and other services applicable to commercial and municipal water production, supply and treatment, and industrial water and wastewater treatment. For more information, visit Company Contact: David W. Sasnett Executive Vice President and CFO Tel (954) 509-8200 Ron Both or Grant Stude Encore Investor & Media Relations Tel (949) 432-7557 Email contact
Reuters
3 days ago
- Business
- Reuters
US life insurers shifted $800 billion offshore from 2019 to 2024, Moody's says
June 2 (Reuters) - U.S. life insurers moved nearly $800 billion in reserves to offshore affiliates between 2019 and 2024, as the growth of private credit has transformed the sector and presented several risks along with it, according to a new Moody's Ratings report. As interest rates fell to near-zero between 2015 and early 2020, public life insurers took multiple approaches to maximize returns and stay competitive with their growing private credit counterparts, Moody's analysts said in a report published on Monday. These included partnering and merging with private equity firms, or alternative asset managers, in a trend that has continued in spite of now higher interest rates. Roughly $75 billion worth of life insurer-private equity M&A deals took place between 2019 and 2024, Moody's said. These included Allstate's (ALL.N), opens new tab 2021 sale of its life and annuity businesses, known now as Everlake, to entities managed by Blackstone (BX.N), opens new tab for $2.8 billion, and Brookfield Reinsurance's ( opens new tab acquisition of American National in 2022 for $5.1 billion. The trend has led life insurers and alternative asset managers to move billions of dollars from their U.S. businesses into offshore accounts in Bermuda or the Cayman Islands at a record-setting pace. They do so to free up capital to "support growth, offer more competitive pricing and returns in products such as annuities ... (and) pursue shareholder-friendly activities such as share repurchases," Moody's analysts said in the report. The U.S. life insurance industry held around $6 trillion in cash and invested assets at year-end 2024, an estimated one-third of which was allocated to private credit, according to Moody's. That follows U.S. life insurers gradually shifting larger percentages of their investment portfolios to private credit - specifically, fund finance, or credit extended to alternative asset managers to capitalize their funds. While fixed income assets such as corporate bonds and commercial real estate compose the largest share of insurers' portfolios, fund finance "will likely grow in the next three to five years based on our survey," the analysts said. Moody's pointed out several risks this evolving business model carries. A lack of transparency around the details and structure of these private credit assets makes them hard to value, the analysts said. The illiquid nature of such products also makes them riskier in a downside scenario if a company is forced to liquidate, they said.
Yahoo
28-05-2025
- Business
- Yahoo
Narayana Hrudayalaya Ltd (BOM:539551) Q4 2025 Earnings Call Highlights: Strong Cayman Growth ...
Release Date: May 27, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Narayana Hrudayalaya Ltd (BOM:539551) has seen strong growth in its Cayman business, with new departments like urgent care and women's health contributing positively. The company has achieved a 45% margin in its Cayman operations, indicating strong financial performance. Narayana Hrudayalaya Ltd (BOM:539551) is focusing on organic growth through improved throughput and higher order procedures, which has sustained growth without adding new capacity. The company has a strong technology platform that enhances operational efficiency, allowing it to perform tasks with fewer resources. Narayana Hrudayalaya Ltd (BOM:539551) has a low debt-to-equity ratio, providing significant headroom for future borrowing if needed. The Indian business faces challenges with clinic and insurance losses, which are expected to grow as the company expands its clinic portfolio. There is a temporary increase in working capital days due to delayed payments from government payers, impacting cash flow. The company is experiencing a decline in international patient revenue, particularly from Bangladesh, which may continue to decrease. Narayana Hrudayalaya Ltd (BOM:539551) has not added significant new bed capacity in recent years, which may limit growth potential until new facilities are operational. The company faces challenges in retaining high-quality staff due to increasing competition in the healthcare sector. Warning! GuruFocus has detected 5 Warning Signs with KUASF. Q: Can you provide some color on the Cayman business growth and whether $45 million will be the new base for revenue? A: The hospital has been well-received, with new departments like urgent care and women's health contributing to growth. While there may be fluctuations, $45 million is a good base assumption for sustainable revenue. (Unidentified_3) Q: With Cayman margins at 45%, is there potential for further improvement, or will the focus shift to revenue growth? A: Beyond this point, focusing on improving margins at the expense of revenue growth doesn't make sense. The goal is now revenue growth, as crossing this margin level would be challenging and not sensible long-term. (Unidentified_3) Q: Regarding the Indian business, are the clinic and insurance losses at their peak, or could they extend further? A: The losses will grow due to expansion plans for clinics, but over 3-4 years, we aim to stay within a set investment horizon. The current cash burn is due to initial costs in new clinics and cities. (Unidentified_4) Q: What is the strategy for growth before the greenfield expansion kicks in? A: We will sustain growth through throughput initiatives, as seen in past years without adding capacity. We aspire to maintain the growth momentum without providing forward guidance. (Unidentified_4) Q: Can you elaborate on the insurance business and its reception among patients? A: Customers have responded positively, with about 4,000 lives covered. We focus on high-quality underwriting and risk management, providing an exceptional claims experience. Our strategy is to build distribution and expand to more markets. (Unidentified_6) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
