Latest news with #MCBs
Time of India
01-07-2025
- Time of India
Jamnagar's power poles double as drying racks, cattle tethering posts
Rajkot: The Jamnagar Municipal Corporation recently issued a stern public warning that, while intended to caution against electrocution deaths, has left many amused. Recently, it came to light that streetlight poles in several areas were doubling up as efficient power supply supports and equally effective fixtures for drying clothes. In many places, people even tethered their domesticated animals to the poles. Officials warned that such practices are extremely dangerous, as the live wires in these poles carry between 230 and 440 volts — more than enough to cause serious injury or death. The JMC issued a public warning that it would not be responsible for damage to property or lives in the event of any untoward incident caused by such personal uses and said it would take stern action against those tampering with this infrastructure. The civic teams found that residents in densely populated areas such as Harshad Mill ni Chali, Digjam Circle, and Gulabnagar have been using the poles to dry clothes, tether domestic animals like cows and goats, and put up hoardings. "People tie cords between two poles to hang clothes near their residences. Some even tether their animals to the poles," said Rushabh Mehta, deputy Executive engineer of the JMC light branch. In some instances, people reportedly tampered with the poles' electrical systems — disconnecting wires, stealing fuses and miniature circuit breakers (MCBs), leaving the junction boxes and power feeding sections exposed. This compromises the poles' protective systems and poses a serious risk of electrocution. The advisory clearly states: "JMC will not be held responsible for any loss of life or property damage resulting from such behaviour." Municipal Commissioner DN Modi said, "We issued this warning specifically in view of the monsoon season. With constant moisture, water-logged streets, and wet poles, the chances of electric shocks increase significantly. That's why we urge people to refrain from electric poles and avoid any unsafe activity around them." Sources within JMC said that as the city's jurisdiction expanded, several semi-urban and rural areas — where residents keep milch animals — were merged into the municipal limits. In these areas, it is common for people to tie animals to public infrastructure. The misuse is also prevalent in the older, high-density parts of the city. Get the latest lifestyle updates on Times of India, along with Doctor's Day 2025 , messages and quotes!
Arabian Post
11-06-2025
- Business
- Arabian Post
GulfNav Secures $871 Million Deal to Bolster Oil Storage Hub
Arabian Post Staff -Dubai Gulf Navigation Holding PJSC has signed a definitive agreement to acquire the assets and subsidiaries of Nasdaq‑listed Brooge Energy for AED 3.2 billion, a move set to significantly expand its midstream oil and gas capacity. The transaction spans a blend of cash, share issuance, and mandatory convertible bonds, with completion anticipated by the close of the third quarter of 2025, subject to regulatory and shareholder approvals. The bulk of the deal involves taking over Brooge Petroleum and Gas Investment Company FZE, its Phase III FZE entity, and BPGIC Phase 3 Limited—each operating advanced crude, fuel oil, and refined petroleum storage facilities in Fujairah. These strategically located assets will double GulfNav's existing infrastructure, reinforcing its footprint at a key UAE bunkering and storage hub. ADVERTISEMENT Under the structured settlement, GulfNav will allocate 358.8 million new shares at AED 1.25 each to Brooge Energy, enforceable with a 12‑month lock‑up period. It will also issue AED 2.336 billion in mandatory convertible bonds convertible at the same share price and restricted similarly. Existing shareholders have access to AED 500 million in MCBs at AED 1.10 per share, with major investors covering any unclaimed portion. Additionally, AED 460 million will be disbursed in cash. Chief Executive Ahmad Kilani described this acquisition as transformational, explaining that integrating Brooge's storage infrastructure with GulfNav's maritime services will 'unlock operational synergies, enhance storage capacity and drive long‑term value for shareholders.' Incoming facilities in Fujairah are expected to enhance logistical efficiency, lower costs, and broaden GulfNav's revenue mix. This move aligns with GulfNav's strategy to transition from a legacy maritime operator to a diversified energy‑logistics conglomerate. The firm's board was authorised in March 2025 to proceed with the asset acquisition, capital increase, and issue of MCBs, all in light of its shareholders' approval. Regulatory processes and amendments to the company's articles of association—particularly regarding foreign ownership—are now underway. Brooge Energy has previously attracted scrutiny. In December 2024, U.S. investors filed a fraud claim against auditor Ernst & Young, alleging that revenues were overstated by between 30% and 80% during 2018–2020. The firm reached a $5 million settlement with the U.S. Securities and Exchange Commission over irregular accounting practices. Despite these concerns, GulfNav maintains the deal offers strategic value, citing diligence and planned regulatory housekeeping prior to close. Analysts note the landmark nature of this deal; GulfNav's storage assets are poised to surge, positioning it as a key player in the region's rapidly evolving energy-logistics ecosystem. Fujairah's strategic location outside the Strait of Hormuz means its terminals are well placed to serve global crude oil logistics, with Brooge's high-tech blending capabilities offering an edge in operational efficiency. Transaction conditions encompass customary requirements: shareholder approvals, regulatory consents, debt settlements, and commercial registration. GulfNav expects to finalise the share and bond issuance in tandem with regulatory clearance, with the goal of closing by end‑Q3 2025. After completion, the Brooge Energy shareholders and bondholders will receive equity in GulfNav under lock‑up terms. Post-acquisition, GulfNav's board plan includes integrating Brooge's board representatives to ensure continuity and operational alignment throughout the transition. Integration is expected to elevate GulfNav's EBITDA margins and open fresh revenue streams via enhanced storage, blending, and bunkering services. Although GulfNav navigates complexities from Brooge's previous accounting controversies, analysts emphasise the strategic benefits—particularly the ability to offer complete maritime-to-storage and product blending services from a single platform. The expanded Fujairah facilities will allow GulfNav to capitalise on growing crude export flows, further supported by Abu Dhabi's energy growth ambitions. With conventional execution risk low, attention now shifts to securing regulatory and legal clearances, along with capital-raising for the MCB component. Successful completion will mark GulfNav's transformation into a fully integrated energy logistics powerhouse, ready to meet regional demand while delivering enhanced returns to investors.
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
