Latest news with #MCBs
Hans India
22-05-2025
- General
- Hans India
Public participation essential to prevent fire mishaps: Fire DG
Tadepalli: Director General Madireddy Pratap of State Disaster Response and Fire Services Department, called for public participation in preventing fire accidents, emphasising that the summer season sees a higher incidence of such events. He urged people to take precautions. During a press conference held on Wednesday at the State headquarters of State Disaster Response and Fire Services here, DG Pratap stated that the risk of extensive damage from unforeseen fire accidents is higher in old cities of major cities within the State. He cited narrow roads and residential buildings located on upper floors of shops as contributing factors. He pointed out that these were clearly the reasons for the high number of fatalities in the recent fire accident near Hyderabad's Charminar. He warned that similar dangers loom in major towns in Andhra Pradesh, such as Vijayawada, Visakhapatnam, and Tirupati. Therefore, he explained, by taking precautionary measures, everyone can contribute to preventing accidents. Making certain recommendations for fire prevention, he said that electrical appliances should be used based on the robustness of the wiring in old buildings. It's crucial to ensure that the existing wiring can handle the load of modern electrical appliances. This alone can reduce short-circuit accidents by more than half. He suggested installation of Miniature Circuit Breakers (MCBs) in every room and ensure proper earthing for every building. When installing air conditioners, check the wire capacity. These measures, if implemented at a low cost, can provide peace of mind. Referring to the smoke management, he suggested installation of smoke detectors and exhaust fans in every home as part of smoke management. This is critical because smoke inhalation often leads to life-threatening situations during short circuits or fires. Every building should ideally have a breathing balcony for better ventilation and safety. Madireddy Pratap recounted a recent fire incident in a shopping mall in Srikakulam, where it took fire personnel six hours to enter the premises due to intense smoke from burning clothes. Many people suffered from suffocation. He assured that all arrangements are being inspected when apartments are issued NOCs (No Objection Certificates) to prevent such situations in other areas. He stressed that the regulations enforced by the Fire department are for the public's benefit. Fire Department Director D Murali Mohan, Additional Director T Uday Kumar, Assistant District Fire Officer K Vinay and other staff members also participated.
Time of India
21-05-2025
- General
- Time of India
Gulzar Houz blaze sparks alarm over outdated electrical systems
Hyderabad: The tragic fire at a building in Gulzar Houz on Sunday that killed 17 members of a family, has led to fire safety experts warning that Hyderabad is sitting on an "electrical time bomb. " Decades-old wiring systems are unable to support the demands of modern households and businesses that use a number of appliances, often causing an overload –– something that also resulted in fire tragedy at the Prahlad Modi household. Authorities indicated that the fire was likely triggered by a short circuit that caused the air compressor to explode. They added that the system lacked essential safety components like miniature circuit breakers (MCBs), which are designed to protect a circuit from excess current. "In many older structures, electrical systems have not been upgraded in 40, 50 years, even as residents continue to add heavy-load appliances. Forty years ago, electrical systems were designed to run a fan, a couple of bulbs, and maybe a radio, not a fridge, six ACs, geysers and a washing machine. People don't realise how dangerous it is to keep adding appliances without upgrading the wiring," said Dean Kumar, Professor from JNTU, specialised in structural engineering. According to M Sridhar, distribution engineer at Telangana Southern Power Distribution Company Limited (TGSPDCL), Charminar zone, most fires caused by short circuits stem from overheating wires, degraded insulation, or poorly connected joints. "Most residents also remain unaware that their home's electrical system has a capacity limit. The circuit breakers and MCBs help to an extent, but can't always protect against hidden wiring faults," he said. The Telangana Chief Electrical Inspector to Govt (TGCEIG), the body responsible for overseeing inspection and certification of electrical systems, shared that electrical audits are mandatory every five to ten years for buildings over 20 years old. "However, it is not possible for the department to check each home personally. Residents must come forward with issues. But the awareness is missing," said Sudha Reddy, electrical inspector at TGCEIG. "Every homeowner or tenant should get a licensed electrician to inspect wiring every five years and avoid daisy-chaining multiple high-power devices on a single plug point," said Reddy, from chief electrical inspector to the state govt. She added, "Replace visible old or brittle wiring immediately and use surge protectors and quality MCBs to manage current flow."
South China Morning Post
18-04-2025
- Business
- South China Morning Post
Chinese developer Sunac reaches deal with key creditors on offshore debt revamp plan
Sunac China Holdings has reached an agreement with key creditors to restructure US$9.6 billion in offshore debt, marking another step forward for the country's beleaguered home builders as the property market begins to show signs of stabilisation. Advertisement The Beijing-based developer entered into a restructuring support agreement with creditors holding around US$1.3 billion in principal, while another group of creditors with over US$1 billion in debt has also expressed support and was in the process of signing off on the deal, Sunac said in a filing to the Hong Kong stock exchange late on Thursday. The two groups of creditors held about 26 per cent of Sunac's existing debt, it added. Under the agreement, creditors can choose to receive two types of mandatory convertible bonds (MCBs). MCB 1 will be converted into ordinary shares at HK$6.8 (US$0.9) per share when the restructuring takes effect, and MCB 2 will be converted 18 months later at HK$3.85 per share. Creditors could also opt for a combination of the two bonds, with the proportion of MCB 2 capped at 25 per cent. 03:49 Rally cry by Xi sets economic priorities for Chinese officials, absolves them of mistakes Rally cry by Xi sets economic priorities for Chinese officials, absolves them of mistakes Sunac said that about 23 per cent of the new MCBs would be issued to founder and chairman Sun Hongbin – a substantial shareholder – in the form of restricted shares. These shares are intended to help stabilise the company's shareholding structure and cannot be sold for six years. Advertisement
Zawya
10-04-2025
- Business
- Zawya
Ajman Bank divests shares of Dubai-listed Gulf Nav
Ajman Bank is no longer a significant shareholder of Dubai shipper Gulf Navigation following a series of direct deals on shares with a value of AED 173.4 million ($47.2 million) over the past month. Dubai Financial Market (DFM) data shows a total of nine direct deals between 2.6 million and 9 million shares since March 5th. Gulf Nav shareholders approved its $871 million acquisition of Brooge Energy Limited on March 14th. Ajman Bank held 6.4% of shares of the Dubai-listed shipping company last year, but reduced its holdings to 5.6% by January 2025. The DIFC-domiciled Poseidon Fund CEIC Limited is now a major shareholder of Gulf Nav and holds 23.8% of the shares, which closed at AED 5.49 on Wednesday. Minority shareholders have been given first refusal for AED 500 million worth of mandatory convertible bonds (MCBs) as part of the Brooge acquisition. (Reporting by Imogen Lillywhite; editing by Seban Scaria)
Zawya
28-03-2025
- Business
- Zawya
Dubai's Shuaa Capital's board approves capital hike after MCB issuance
The board of directors of Dubai-listed Shuaa Capital has approved the increase of the company's share capital following the issuance of mandatory convertible bonds (MCBs). The investment bank will issue 1.12 billion new shares at a conversion price of AED 0.32 ($0.087). Earlier this month, Shuaa Capital issued 359 million dirhams ($97.7 million) in two tranches – AED 274 million to existing noteholders of its $150 million bond, which expires at the end of March after two extensions, and AED 85 million to new investors. The MCBs will bear no interest and will convert into shares subject to a lock-up period of 14 months from conversion.
