Latest news with #MoA
Borneo Post
5 days ago
- Business
- Borneo Post
Sarawak Business Angel Network officially launched to boost local startups
Ripin (standing behind, centre) witnesses the MoA exchange between Liew (third left) and Wee. Also seen on stage are Sudarnoto (right) and Norman (second left). – Photo by Roystein Emmor KUCHING (Aug 14): The Sarawak Business Angel Network (SBAN) was officially launched today, marking a significant step towards strengthening the state's early-stage investment ecosystem and driving its innovation-led economy. Sarawak Youth, Sports and Entrepreneur Development Minister, Dato Sri Abdul Karim Rahman Hamzah, described the launch as a milestone and a bold and timely initiative that reflects Sarawak's commitment to nurturing innovation, entrepreneurship, and inclusive economic growth. 'In Sarawak, we are not just building roads and bridges. 'We are building the infrastructure of ideas, talent, and opportunity,' he said in a speech read by his deputy, Datuk Dr Ripin Lamat, at Makeramai Makerspace, Plaza Merdeka here. Abdul Karim stressed that innovation requires more than just funding ― it demands belief, mentorship, collaboration, and strategic risk-taking ― and that SBAN's role is to bridge the gap between ambition and opportunity by connecting entrepreneurs with supportive angel investors. 'With the formation of SBAN, Sarawak is making a bold declaration: We are ready to grow our own community of angel investors ― individuals who are not just investing in businesses, but in people, ideas, and the future of our state,' he said. He also urged investors to consider 'return on impact' by supporting rural entrepreneurs, women-led ventures, indigenous innovators, and changemakers. SBAN chairman Dato Patrick Liew said the launch was the result of more than three years of work, with the network officially established in March 2025. He noted the significance of SBAN's strategic partnership with the Malaysian Business Angel Network (MBAN), which he described as the national angel investment backbone. 'SBAN now stands as a critical platform to support and strengthen the Sarawak startup community,' Liew said, highlighting EB Tech Senabah, a Sarawak startup mentored by the network that will represent Malaysia at the Startup World Cup in San Francisco this October, as proof that local talent can compete on the global stage. 'One thing becomes clear — building a thriving ecosystem is not impossible, but it requires committed support, guidance, mentorship, and coaching. 'Ultimately, my passion and goal is to see Sarawak-born startups succeed on the global stage,' he said. The launch was attended by Sarawak Digital Economy Corporation Berhad (SDEC) chief executive officer Dato Ir Ts Sudarnoto Osman, MBAN president Peter Wee, Cradle group chief executive officer Norman Matthieu Vanhaecke, and council members from both SBAN and MBAN. A highlight of the event was the signing of a memorandum of agreement (MoA) between SBAN and MBAN, witnessed by Ripin, SDEC and Cradle representatives. The collaboration aims to link Sarawak's investor community to national and regional networks, expand access to quality deal flow, and share best practices in angel investing. The event also featured a panel discussion on building a robust angel investment ecosystem, with Liew, Sudarnoto, Wee, and Norman sharing insights and opportunities for SBAN's growth. entrepreneurship Sarawak Business Angel Network startup
Time of India
05-08-2025
- Business
- Time of India
Gujarat HC orders arrest of EU-sanctioned oil tanker at Alang
Ahmedabad: The Gujarat high court has ordered the arrest of the crude oil tanker MT Conico Atlas, currently docked at Alang, after a shipping firm sued the vessel's owner over an alleged breach of a sale agreement. Tired of too many ads? go ad free now The firm has claimed USD 4,342,233 in damages alleging that the vessel owners withheld information about sanctions on it by the European Union (EU) The petitioner, Global Maritime Limited, alleged that the vessel was falsely represented as free from international sanctions, when in fact it was sanctioned under multiple jurisdictions — including the United Kingdom, European Union, Australia, Canada, and New Zealand. The dispute stems from a Memorandum of Agreement (MoA) signed on May 29 for the vessel's sale by the owner, Tachio Trading Limited. The initial buyer, Moorgate Maritime LLC — now known as Global Maritime Limited — paid AED 3,109,932 (approx. USD 846,690) as a deposit under the agreement. Global Maritime submitted that though the ship owner had claimed that the vessel was not under any sanction, but itt was found to be under sanctions by several countries. The petitioner claimed that since the ship was under sanctions from various jurisdictions, the MoA should be declared annulled. Meanwhile, one Shri Gautam Ship Breaking India Pvt Ltd invested in scrapping the vessel, it sailed to Alang for dismantling. However, upon its arrival at Alang on June 17, financial institutions refused to process the remaining payment due to its sanctioned status, Global Maritime submitted. Tired of too many ads? go ad free now The petitioner's counsel assured the court that the company would compensate for any damage to the vessel caused by the arrest, as determined by the court. Following a preliminary hearing, Justice Mauna Bhatt directed Alang port authorities to arrest the vessel if the owner fails to pay the claimed amount. "The Port Officer and the Customs Authorities at Alang Port, Bhavnagar are directed to arrest the Defendant Vessel, MT Conico Atlas (IMO: 9288693), currently lying at Alang Port within Indian territorial waters, and to keep the Defendant Vessel under arrest until further orders of this Court," the court order states. The court has also issued a notice to the vessel owner and sought a reply by Sep 15, while clarifying that the defendants are free to approach the court before the returnable date, with prior notice to the plaintiff.
Time of India
31-07-2025
- Automotive
- Time of India
Maruti Suzuki expands business scope with major overhaul of Memorandum of Association
Maruti Suzuki India Ltd (MSIL), the country's largest carmaker, has undertaken a significant overhaul of its Memorandum of Association (MoA), signalling a broader push into emerging areas of mobility and sustainability. The company's Board of Directors approved multiple amendments to the Object Clause during its meeting held on Thursday. The changes reflect Maruti Suzuki's intent to diversify its operations beyond traditional automotive manufacturing . The revised MoA expands the company's definition of core business to include not only conventional automobiles but also drones, unmanned aerial vehicles (UAVs), amphibious and alternative propulsion vehicles, and their associated technologies and components. New and broader horizons In a clear move towards becoming a comprehensive mobility solutions provider, the company has now included in its scope the operation of subscription-based models, shared mobility services, last-mile connectivity, and vehicle leasing. This expansion also includes permission to buy, sell, refurbish, certify and auction used vehicles through digital, physical, or hybrid platforms, strengthening its presence in the pre-owned vehicle ecosystem. Maruti Suzuki is also preparing to deepen its involvement in the electric mobility space. It will now be allowed to set up electric vehicle charging stations, battery swapping infrastructure and engage in the production and trading of alternative fuels like Compressed Biogas and Hydrogen. Aligning with sustainability initiatives As part of its sustainability initiatives, the company has added new provisions enabling it to participate in carbon trading, monetisation of renewable energy certificates, and offer consultancy services in this space. Further, the MoA now permits Maruti Suzuki to engage in the recycling of end-of-life vehicles and industrial scrap, enabling a circular economy approach. Additionally, the company can now offer a range of consulting and technical services, including R&D, certification, testing, warehousing, and IT services, to third parties and government agencies.
Time of India
31-07-2025
- Automotive
- Time of India
Maruti Suzuki to expand beyond cars: Board clears MoA changes for drones, EVs & more
Maruti Suzuki India Ltd (MSIL) on Thursday said its board has approved alterations to the Object Clause of its Memorandum of Association (MoA) to expand its business scope beyond automobile manufacturing . In a filing to the NSE and BSE, the company said the changes were cleared at the board meeting held on July 31, 2025, and will be placed before shareholders for approval at the upcoming AGM on August 28, 2025. Explore courses from Top Institutes in Please select course: Select a Course Category Cybersecurity Design Thinking Data Analytics Project Management Product Management Finance Others others CXO Management Data Science Artificial Intelligence Leadership MCA Digital Marketing Technology Data Science PGDM Healthcare Degree Operations Management Public Policy MBA healthcare Skills you'll gain: Duration: 10 Months MIT xPRO CERT-MIT xPRO PGC in Cybersecurity Starts on undefined Get Details The revised clause broadens MSIL's mandate to include manufacturing of drones , unmanned aerial vehicles (UAVs), and unmanned aircraft systems (UAS), along with new-age technologies related to propulsion and control systems. It also allows the company to venture into mobility services such as vehicle leasing, subscription, shared mobility, used car sales, EV charging infrastructure, hydrogen and biogas trading, carbon credit monetization, and end-of-life vehicle recycling. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Indonesia: Bathroom Remodeling Trends in 2025 May Surprise You Bathroom Remodeling | Search Ads Search Now Undo The company plans to offer consulting, R&D, logistics, and supply chain services, alongside facilities for vehicle testing and certification. The move reflects company's push to diversify into emerging mobility solutions and sustainable technologies in line with industry trends.
India.com
24-07-2025
- Business
- India.com
This company shares in action as company plans entry into new sectors
सेफ इंवेस्टमेंट भी जरूरी Bartronics India has made changes in its Memorandum of Association (MoA). After this announcement by the company, the stock has come into focus. On July 22, 2025, all the shareholders of the company approved this change through voting. The company has given this information to the stock market. Bartronics will now enter new and big sectors like AI (Artificial Intelligence), IoT (Internet of Things), satellite data and blockchain. Along with this, the company also wants to contribute to the development of villages, health, food and digital technology. The company says that it will now do such work which is related to rural development, Digital India, and health security of the country. For this, a change in MoA was necessary, so that the company could do this work legally. Today i.e. on 24th July 2025, the company's stock is trading at around ₹ 13.74. Yesterday it closed at ₹ 13.78. Although the stock is currently showing volatility, it may move after this new news. Bartronics India's stock has given more than 475% return in 5 years. Meaning if you had invested ₹ 1 lakh 5 years ago, today it would have become ₹ 5.75 lakh. However, the stock has declined by about 35% in the last 1 year and so far this year it has suffered a loss of 24%. The highest share price of this stock was ₹ 25.84, which was in October 2024. The lowest price was ₹ 12, which was seen only in July 2025. Currently, the market cap of Bartronics India is ₹ 419.71 crore. Benchmark indices Sensex and Nifty declined in early trade on Thursday amid profit-taking in blue-chip stocks and continuous foreign fund outflows. Despite a positive start, the 30-share BSE Sensex failed to carry forward the momentum and fell later in the trade. The benchmark declined 130.92 points to 82,595.72 in early trade. The 50-share NSE Nifty dipped 23 points to 25,196. 90. From the Sensex firms, Trent, Kotak Mahindra Bank, UltraTech Cement, Bajaj Finance, Tech Mahindra, Tata Consultancy Services, Infosys and Axis Bank were among the biggest laggards.
