PRE-MARKET AUSTRALIAN, JAPANESE & SOUTH KOREAN STOCK NEWS: Tuas (TUA AT) planned USD 1.1bln acquisition of Singapore telecom operator M1 collapsed amid regulatory scrutiny

AUSTRALIA

AMP (AMP AT) - Co. named Jackie Cleary as CFO, expected to start on July 20 and be based in Sydney. (Dow Jones Newsplus)

BlueScope Steel (BSL AT) - Co. named Michael Morley as nonexecutive director effective June 1, while Rebecca Dee Bradbury will retire from the board at the close of the annual shareholder meeting in November. (Dow Jones Newsplus)

Guzman y Gomez (GYG AT) - Co. will exit the US market and immediately close its Chicago restaurants after financial performance failed to meet expectations. (Dow Jones Newsplus)

Monadelphous Group (MND AT) - Co. secured construction and maintenance contracts across the resources and renewable energy sectors valued at around AUD 120mln combined. (Dow Jones Newsplus)

Tuas (TUA AT) - Co.’s USD 1.1bln acquisition of Singapore telecom operator M1 collapsed amid regulatory scrutiny. (Dow Jones Newsplus)

Other News

ACCC approved Barings, Aware Super and Rest Super’s AUD 1.5bln acquisition of Moorabbin Airport. (Street Talk)

Broker Ratings/Price Target

Nick Scali (NCK AT) Downgraded to Hold from Buy, PT cut 44% to AUD 14.00/shr by Jefferies.

JAPAN

Honda Motor (7267 JT) - Co. will begin sales of the Super-ONE compact EV, offering a new value for EVs aimed at transforming everyday mobility into an exciting experience. (Newswires)

Kawasaki Heavy Industries (7012 JT) - Co. will partner with NVIDIA (NVDA) on physical AI and open a US robot centre, with the joint development initiative also including Microsoft and Fujitsu. (Nikkei)

Mazda Motor (7261 JT) - Co.’s “inchworm” brand strategy hinges on transformed dealerships, with the Japanese carmaker to open new-generation showrooms alongside the launch of the new CX-5. (Nikkei)

Pasona Group (2168 JT) - Oasis cut its stake in the Co. to 0.19% from 5.02%, according to a filing. (Newswires)

Orix (8591 JT) - Co. and Qatar Investment Authority’s joint private equity fund purchased Japanese systems developer Nippon Information Industry. (Nikkei)

Toyota Motor (7203 JT) - Co. is set to sell Taiwan-made minivans in Japan as it leans on overseas supply chains amid rising domestic investment risks. (Nikkei)

Japanese Banks - Japan’s top three banks and regional lenders will offer loans backed by technology or growth potential rather than physical assets under a new programme aimed at supporting startups. (Nikkei)

SOUTH KOREA

SK Inc (034730 KS) – SK On ended its joint partnership with Ford Motor Co. to separately own and operate EV battery plants in the US. (Yonhap)

Other News

South Korea froze price ceilings on fuel products for the fourth consecutive time amid lower volatility in global crude prices and stable oil supply. (Yonhap)

South Korea’s trade watchdog decided to impose anti-dumping tariffs on PVC paste resin products from four European nations. (Yonhap)