Latest news with #ADR
Daily Express
17 minutes ago
- Business
- Daily Express
Sabah adopts ADR clause to smoothen contract disputes
Published on: Thursday, July 24, 2025 Published on: Thu, Jul 24, 2025 Text Size: Abidin (left) receives a memento from Bicam Chairman Tan Sri David Wong Dak Wah. - Pic by CMD KOTA KINABALU: The State Government is formalising the use of dispute resolution frameworks, including Alternative Dispute Resolution (ADR), in all its contracts and development-related agreements. Chief Minister Datuk Seri Hajiji Noor said the State Attorney-General's Chambers has advised the adoption of the Borneo International Centre for Arbitration and Mediation (Bicam) model clause to help ensure projects proceed smoothly in the event of disagreements. Encouraging mediation as a first step, he said this approach can help government-linked companies and statutory bodies avoid delays while maintaining productive relationships. Hajiji made these remarks in a speech delivered by Assistant Minister to the Chief Minister, Datuk Abidin Madingkir, at the Bicam Global ADR Horizons 2025 conference here on Thursday. Hajiji added that with Sabah's growing role in regional trade and investment, the presence of an international-standard ADR centre like Bicam signals the State's commitment to upholding contract integrity and fostering investor confidence. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Star
an hour ago
- Business
- The Star
Sabah to embed dispute resolution frameworks into govt-linked transactions, says Hajiji
KOTA KINABALU: The state government is embedding clear dispute resolution frameworks, including Alternative Dispute Resolution (ADR), into government-linked transactions, development projects, and procurement agreements, says Datuk Seri Hajiji Noor. The Chief Minister said the state Attorney General's Chambers has also recommended that the Borneo International Centre for Arbitration and Mediation (BICAM) model clause for mediation and arbitration be adopted in all state government contracts to avoid halting the progress of contracts in case of disagreements. 'Disagreements must be managed professionally, efficiently and fairly. We are also encouraging our government-linked companies and statutory bodies to explore mediation as a first step not only to avoid lengthy litigation, but to preserve relationships and focus on outcomes,' he said. The Chief Minister said this at the BICAM Global ADR Horizons 2025 conference here, Thursday (July 24). Assistant Minister to the Chief Minister Datuk Abidin Madingkir delivered Hajiji's speech. He said Sabah is not just a gateway to Borneo, but also strategically located along vital economic corridors in the Indo-Pacific. As global trade becomes more integrated, and supply chains more regionalised, Sabah stands to benefit from increased investment, industrial activity, and infrastructure growth, he said. However, with growth comes complexity, said Hajiji, adding that as contracts become larger, stakeholder interests become more varied, inevitably disputes may arise and this is where ADR comes in. 'In Asean, we are seeing increased harmonisation of arbitration practices, stronger enforcement regimes, and the emergence of regional institutions that reflect our own legal cultures and economic realities,' he said. 'Sabah, through BICAM, is proud to be part of this global evolution offering a neutral platform aligned with international standards,' he said. To international partners and investors, Hajiji said that Sabah is ready not just with its natural resources and economic opportunities, but also with the right legal and institutional environment. 'The presence of an international-standard ADR centre like BICAM signals our intent to uphold the rule of law, respect contract sanctity, and resolve disputes constructively,' he said. 'This conference is timely in that it seeks to modernise the way we manage differences, build trust between parties, and create resilient institutions,' he said. Hajiji said Sabah is committed to positioning itself as a responsible, reliable, and reform-oriented state, both within Malaysia and on the global stage.
News18
3 hours ago
- Business
- News18
Stocks To Watch: Infosys, Bajaj Finance, Nestle, IndusInd Bank, Natco Pharma, And Others
Last Updated: Stocks to watch: Shares of firms like Infosys, Bajaj Finance, Nestle, IndusInd Bank, Natco Pharma, and others will be in focus on Thursday's trade Stocks to watch on July 24, 2025: Indian markets closed higher in the previous session, rising over half a percent and offering a breather from recent declines. In today's trade, shares of Infosys, Bajaj Finance, Nestle, IndusInd Bank, and Inox Wind, among others, will be in focus amid a flurry of earnings announcements and key corporate developments. Bajaj Finance, Nestle, SBI Life, Adani Energy, Canara Bank, Motilal Oswal, and IEX are set to release their first-quarter results today, drawing investor attention. Infosys Infosys reported a net profit of Rs 6,921 crore for Q1FY26, an 8.7% year-on-year increase that beat market estimates. Revenue rose 7.5% YoY to Rs 42,279 crore, though operating margins declined to 20.8% from 21.1% a year ago. The company revised its FY26 revenue guidance upward to 1–3% in constant currency and noted that free cash flow dropped 17.7% YoY to Rs 7,533 crore but remained over 108% of net profit. IndusInd Bank IndusInd Bank's board approved fundraising of up to Rs 30,000 crore through a combination of debt and equity instruments, including Rs 20,000 crore via domestic or foreign debt securities and Rs 10,000 crore through QIP, ADR, or GDR routes. BEML BEML secured a Rs 293.82 crore order from the Ministry of Defence for High Mobility Vehicles (HMV) 6×6, used in military logistics and support. Oracle Financial Services Oracle Financial Services Software posted a 4% YoY rise in net profit to Rs 641.9 crore and a 6.4% growth in revenue to Rs 1,852 crore. Inox Wind Inox Wind received board approval for a Rs 1,249.33 crore rights issue, offering shares at Rs 120 apiece, with a rights entitlement ratio of 5:78 and July 29 as the record date. Dr. Reddy's Laboratories Dr. Reddy's Laboratories reported a marginal 1.26% rise in Q1 net profit to Rs 1,409.6 crore, with revenue up 11.4% to Rs 8,545.2 crore. Bajaj Housing Finance Meanwhile, Bajaj Housing Finance, a unit of Bajaj Finance, reported a 33.4% YoY increase in net interest income to Rs 887 crore and a 21% jump in net profit to Rs 583 crore, while maintaining strong asset quality with gross NPAs at 0.3% and net NPAs at 0.13%. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Business Upturn
6 hours ago
- Business
- Business Upturn
Subsea 7 S.A. Notice of Extraordinary General Meeting
NOT FOR DISTRIBUTION IN OR INTO THE UNITED STATES, OR IN ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW Luxembourg – 24 July 2025 – Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) (the Company) today published and distributed to eligible holders of common shares the notice of meeting for an extraordinary general meeting of shareholders (the EGM). The purpose of the EGM is to consider the proposed combination between Subsea7 and Saipem SpA. The EGM is scheduled to take place at 15:00 (local time) on 25 September 2025 at 5, place Winston Churchill, L-1340 Luxembourg. The holders of common shares on record at the close of business on 11 September 2025 will be entitled to vote. The deadline for submission of votes for holders of common shares is 19 September 2025. The notice of meeting and supporting materials, including the common merger plan, the report of the board of directors with respect to the common merger plan, and the reports of the respective independent experts of the Company and Saipem SpA, will shortly be available on the Company's website, The EGM agenda includes the proposal to distribute a dividend of €450m, equating to approximately NOK 18.00 per share as at today's date. This distribution is in accordance with the terms of the merger with Saipem S.p.A., conditional on completion of the merger and expected to be paid immediately before the proposed merger effective date. In addition, the EGM agenda includes a proposal to distribute a special dividend of €105m, equating to approximately NOK 4.15 per share, as at today's date. This distribution is related to a permitted business divestment in accordance with the merger agreement with Saipem SpA. The distribution is expected to be paid after closing of the relevant transaction or (if earlier) immediately before the proposed merger effective date. The key dates relating to both proposed dividends shall be published as soon as these dates are fixed. ******************************************************************************* Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry's partner and employer of choice in delivering the efficient offshore solutions the world needs. Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62. ******************************************************************************* Contact for investment community enquiries:Katherine TonksInvestor Relations DirectorTel +44 20 8210 5568 [email protected]
Business Upturn
12 hours ago
- Business
- Business Upturn
Subsea7 awarded substantial contract
By GlobeNewswire Published on July 23, 2025, 21:21 IST Luxembourg – 23 July 2025 – Subsea7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a substantial(1) contract. The project involves the engineering and offshore installation of flexible pipe, umbilicals, subsea equipment and a mooring system. Project management and engineering activities will begin immediately at Subsea7's office in Houston, Texas, with offshore operations expected to start in 2027. No additional details will be provided at this time. (1) Subsea7 defines a substantial contract as being between $150 million and $300 million. ******************************************************************************* Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry's partner and employer of choice in delivering the efficient offshore solutions the world needs. Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62. ******************************************************************************* Contact for investment community enquiries:Katherine TonksInvestor Relations DirectorTel +44 20 8210 5568 [email protected] Contact for media enquiries:Ashley ShearerCommunications ManagerTel +1-713-300-6792 [email protected] Forward-Looking Statements: This document may contain 'forward-looking statements' (within the meaning of the safe harbour provisions of the U.S. Private Securities Litigation Reform Act of 1995). These statements relate to our current expectations, beliefs, intentions, assumptions or strategies regarding the future and are subject to known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements may be identified by the use of words such as 'anticipate', 'believe', 'estimate', 'expect', 'future', 'goal', 'intend', 'likely' 'may', 'plan', 'project', 'seek', 'should', 'strategy' 'will', and similar expressions. The principal risks which could affect future operations of the Group are described in the 'Risk Management' section of the Group's Annual Report and Consolidated Financial Statements. Factors that may cause actual and future results and trends to differ materially from our forward-looking statements include (but are not limited to): (i) our ability to deliver fixed price projects in accordance with client expectations and within the parameters of our bids, and to avoid cost overruns; (ii) our ability to collect receivables, negotiate variation orders and collect the related revenue; (iii) our ability to recover costs on significant projects; (iv) capital expenditure by oil and gas companies, which is affected by fluctuations in the price of, and demand for, crude oil and natural gas; (v) unanticipated delays or cancellation of projects included in our backlog; (vi) competition and price fluctuations in the markets and businesses in which we operate; (vii) the loss of, or deterioration in our relationship with, any significant clients; (viii) the outcome of legal proceedings or governmental inquiries; (ix) uncertainties inherent in operating internationally, including economic, political and social instability, boycotts or embargoes, labour unrest, changes in foreign governmental regulations, corruption and currency fluctuations; (x) the effects of a pandemic or epidemic or a natural disaster; (xi) liability to third parties for the failure of our joint venture partners to fulfil their obligations; (xii) changes in, or our failure to comply with, applicable laws and regulations (including regulatory measures addressing climate change); (xiii) operating hazards, including spills, environmental damage, personal or property damage and business interruptions caused by adverse weather; (xiv) equipment or mechanical failures, which could increase costs, impair revenue and result in penalties for failure to meet project completion requirements; (xv) the timely delivery of vessels on order and the timely completion of ship conversion programmes; (xvi) our ability to keep pace with technological changes and the impact of potential information technology, cyber security or data security breaches; (xvii) global availability at scale and commercially viability of suitable alternative vessel fuels; and (xviii) the effectiveness of our disclosure controls and procedures and internal control over financial reporting. Many of these factors are beyond our ability to control or predict. Given these uncertainties, you should not place undue reliance on the forward-looking statements. Each forward-looking statement speaks only as of the date of this document. We undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 23 July 2025 at 18:20 CET. Attachment Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. 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