Latest news with #Public
The Star
a day ago
- Business
- The Star
Public Mutual declares over RM20mil in distributions for three funds
KUALA LUMPUR: Public Bank Bhd 's wholly-owned subsidiary, Public Mutual Bhd, has declared distributions totalling over RM20mil for three funds. In a statement, the unit trust company announced a gross distribution of 3.75 sen per unit for the Public Select Bond Fund, 0.20 sen per unit for the Public Dividend Select Fund, and 0.10 sen per unit for the PB ASEAN Dividend Fund. Public Mutual is Malaysia's largest private unit trust company, with more than 180 funds under its management. It is also an approved private retirement scheme (PRS) provider, managing nine PRS funds.
Cision Canada
2 days ago
- Business
- Cision Canada
NYALA Digital Asset AG paves new way for digital securities as a profitable investment
NYALA is the first truly digital alternative to traditional investment banks. The company offers a platform through which stocks and bonds can be issued—without exchanges, banks, or paperwork. Faster, cheaper, and across borders. In doing so, NYALA is democratizing both capital access for companies and investment opportunities for retail investors. NYALA's pioneering work is regulated under Germany's Electronic Securities Act (eWpG) and was recently awarded a government research grant from the German Federal Ministry of Research. NYALA solves a serious issue: traditional capital markets aren't built for small and mid-sized enterprises. IPOs require multi-million budgets and specialized legal advisors. As a result, 90% of mid-sized growth companies lack access. This often leads to the most exciting investment opportunities being allocated behind closed doors—to exclusive investor circles. A New Era for Capital Markets: DPO Instead of IPO What used to be a costly and complex IPO is now a lean, digital process. NYALA enables so-called DPOs—Digital Public Offerings. Companies issue securities directly to investors via digital channels: through their websites, apps, or partner platforms. According to Larry Fink, CEO of BlackRock—the world's largest asset manager—the future of capital markets lies in this kind of digital securities. The market holds enormous potential: by 2030, volumes of over €10 trillion are expected. In Europe, there is an annual funding gap of €800 billion that NYALA aims to close. Already, over 5,000 investors and issuers from six EU countries trust the platform. An Exciting Announcement for Investors: With a current share price of around €90, significant short-term potential and a target above €1.000, investors can now participate online—a process as simple as online shopping. And 15% of investments in NYALA can be refunded by the German Office for Economic Affairs. More information at Against this backdrop, the business editors of the FRANKFURTER TAGESZEITUNG see NYALA as one of the pioneers in the digital transformation of the financial sector. NYALA is now expanding across Europe and offers investors the chance to get in early on a promising future. With a solid foundation and a clear growth path, this Berlin-based company is revolutionizing how capital is raised and applied to benefit the European economy. The digitization of finance has begun—and NYALA is leading it forward. META DESCRIPTION: Discover NYALA Digital Asset AG: Digital securities are revolutionizing the capital market. Yield-driven investments for private investors and new financing routes for SMEs. Join the funding round now!
Yahoo
3 days ago
- Business
- Yahoo
Maine lawmakers pass $1.6 billion ‘messaging bill' to reverse cuts to state pension system
Passersby honk at Winnie Malia (right) and other state employees chanting along State Street in Augusta on Sept. 26, 2023. (Photo by Emma Davis/ Maine Morning Star) Maine Legislators said they hope to send a message about the importance of public service with the passage of a bill that would undo previous cuts to the state pension system — to the tune of more than $1.6 billion. In 2011, the Legislature and former Gov. Paul LePage made changes to the state pension system that capped cost of living adjustments at 3% and restricted that increase so that it would only apply to the first $20,000 (which has now increased to $24,000) of pension income. At the time, those cuts helped the state lower the top marginal individual income tax rate from 8.5% to 7.15%. The House voted 81-66 on Wednesday following the Senate's 22-12 vote on Tuesday in favor of legislation (LD 900) that would undo some of those changes and tie the Public Employees Retirement System to the Consumer Price Index in an effort to help retirement accounts keep pace with inflation. Speaking from the chamber floor Tuesday, Sen. Mike Tipping (D-Penobscot) noted the bill has a fiscal note of more than $1.6 billion due to the state pension system not having enough assets to cover the future cost of those changes. 'I have every confidence that my colleagues on the Appropriations and Financial Affairs Committee will find that money,' Tipping joked, 'but regardless of how it works out, this is an important reminder of how much we've taken from retirees to pay for tax breaks for the wealthy.' However, critics said passing a bill with such a price tag would be irresponsible. 'We must legislate responsibly, balancing our obligations to retirees with a broader need for Maine's working families, businesses and public services,' Rep. Mike Soboleski (R-Phillips) said during the House debate, adding that if funded the bill would likely divert resources from education, health care, and other priorities. Rep. Amy Roeder (D-Bangor) said although the bill is likely going to die on the appropriations table, where legislation not included in the budget vies for remaining funds at the end of session, she won't stop fighting for pensions. 'Every year we fail to restore these pensions, we are complicit in perpetuating the injustice,' she said. Bill sponsor Sen. Joe Baldacci (D-Bangor) said over the last 15 years 'employees of the state have been shortchanged significantly,' noting the thousands of retired teachers and public workers impacted by the current structure. His hope is that over successive legislatures, this issue becomes a priority. Before advancing to either the governor's desk or the appropriations table, the bill will go back to both chambers for final enactment votes. SUPPORT: YOU MAKE OUR WORK POSSIBLE
The Hindu
3 days ago
- Business
- The Hindu
After Revanth meets PM, Hyderabad Metro Rail Phase II awaits Centre's final nod for the JV
There is renewed hope of the Hyderabad Metro Rail Phase II covering 76.4 km spread across five corridors, including extending the existing first phase lines of 69.2 km in the capital region, getting on track at an estimated cost of ₹24,269 crore soon. With Chief Minister A. Revanth Reddy meeting Prime Minister Narendra Modi during the NITI-Aayog conclave and once again seeking his support for next phase recently, senior officials are confident of getting the clearance. The Centre's support is crucial because a joint venture pact with it will enable the Telangana government to access the loan from multilateral agencies like JICA, Japanese International Cooperation Agency, and others, at a nominal interest rate of about 2% with a long repayment period. The Centre's sovereign guarantee cover for such loans will enable States to source funds from foreign funding agencies. This financial model will be unlike the HMR first phase project taken up under the Public, Private Partnership (PPP) — world's largest for Metros — as decided by the then government when nationalised banks issued a loan at 10%, explained senior officials. The Telangana government's share of the Metro rail second phase project of the total cost of ₹24,269 crore is projected to be 30% or ₹7,313 crore, Centre's share will be 18% or ₹4,230 crore and loan will be 48% or ₹11,693 crores with the PPP component being 4% or ₹1,033 crore. Usually, it takes about three months for the project to vetted by the Central ministries for a JV. Though it has been seven months since the State government had submitted the Detailed Project Reports (DPRs) prepared by the Hyderabad Airport Metro Rail (HAML), it is learnt that the Centre had posed a few questions. These are about how the first and second phase Metro rail operations will be intertwined once the latter becomes operational since the first phase was built and is run by a private concessionaire L&T Metro Rail Hyderabad (L&TMRH). There were queries raised about the potential ridership scenario of 8 lakh to 10 lakh passengers a day once the second phase becomes operational. HAML has reportedly stated that the ridership numbers is a 'conservative' estimate considering the growth of city in the last 10 years, and promised to take further traffic studies while stating that the capital region has expanded into the suburbs and beyond including offices, factories, warehouses, etc. It is also pointed out that Bengaluru, Chennai, Nagpur and Pune Metros witnessed riders count doubling once the new lines were added with inter-connectivity varying from 1.5 lakh to 7.5 lakh a day. Incidentally, Chennai Metro Rail Phase Two got Centre's approval in October last year but it took six years though the Tamil Nadu government had started the construction work. Finally, it will be the Prime Minister's Office that will take the call.
Business Standard
3 days ago
- Business
- Business Standard
Prostarm Info Systems IPO subscribed 12.65 times
The offer received bids for 14.16 crore shares as against 1.12 crore shares on offer. The initial public offer of Prostarm Info Systems received bids for 14,16,94,842 shares as against 11,200,000 shares on offer, according to stock exchange data at 17:00 IST on Wednesday (28 May 2025). The issue was subscribed 12.65 times. The issue opened for bidding on 27 May 2025 and it will close on 29 May 2025. The price band of the IPO is fixed between Rs 95 and 105 per share. An investor can bid for a minimum of 142 equity shares and in multiples thereof. The Initial Public Offer comprises a fresh issue of up to 1,60,00,000 equity shares of Rs 10 each. Of the net proceeds from the fresh issue of equity shares, about Rs 72.50 crore will be used to meet working capital requirements, Rs 17.96 crore for repayment/prepayment in full or in part of certain outstanding borrowings, and the balance for general corporate purposes. Total outstanding as onMarch 31, 2025, stood at Rs 66.92 crore. Ahead of the IPO, Aegis Prostarm Info Systems on Monday, 26 May 2025, raised Rs 50.40 crore from anchor investors. The board allotted 48,00,000 shares at Rs 105 each to 8 anchor investors. Prostram Info Systems, founded in 2008, is a power solutions provider specializing in UPS systems, inverters, lithium-ion battery packs, and solar EPC projects. The company designs, manufactures, and assembles products in-house and via partners in India and China. It serves sectors like healthcare, IT, defense, and energy through direct sales and a nationwide distributor network. Prostram operates three units in Maharashtra and has strengthened its tech capabilities through strategic acquisitions and licensing agreements. The firm reported a consolidated net profit of Rs 22.93 crore and total income of Rs 268.63 crore for the nine months ended on 31 December 2024.
