Hong Kong Court Adjourns Shimao Group Petition

02 Aug 2024 CW Team

The Hong Kong court has adjourned the liquidation petition filed against Shimao Group until August 12, 2024. This postponement comes amidst ongoing discussions and negotiations regarding the financial restructuring of the troubled real estate developer.

Shimao Group, one of China's prominent property developers, has been grappling with significant financial difficulties. The company?s liquidity issues have led to the initiation of liquidation proceedings, a move that underscores the severe financial strain affecting many players in the real estate sector.

The adjournment allows additional time for Shimao Group to explore potential restructuring options and negotiations with creditors. It provides the company with a crucial opportunity to address its financial challenges and seek solutions that could help stabilize its operations.

Investors and stakeholders will be closely watching the developments as Shimao Group works towards a viable resolution. The outcome of the liquidation proceedings will have significant implications for the company's future and its ability to navigate the current economic climate.

Infrastructure Urban

16 May 2025

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Infrastructure Urban

16 May 2025

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Infrastructure Urban

16 May 2025

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, 鈥淲e are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..