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Italian energy group Eni ENI said on Thursday its fourth-quarter adjusted net profit fell 46% from the previous year, hit by lower energy prices and continued weakness at its refining and chemicals divisions.
The adjusted net profit came in at 892 million euros ($934 million) between October and December, below an analyst consensus of 960 million euros compiled by the company and down from 1.66 billion euros in the fourth quarter of 2023.
Eni said its pro-forma leverage, which measures total debt in relation to equity taking into account also agreed disposals yet to be completed, fell to 15% at the end of last year.
“Our portfolio actions mean our pro-forma leverage is now an historically low 15%, enabling us to continue to invest in the…
PUTRAJAYA: A businessman from Sarawak won his appeal at the Federal Court to set aside a tour agent’s counterclaim against him, which sought to recover gambling debts.
In a unanimous decision delivered yesterday, the three-judge panel led by Chief Judge of Sabah and Sarawak Tan Sri Abdul Rahman Sebli ruled that gaming and wagering contracts are deemed unlawful and gambling debts are not enforceable under Malaysian law.
Fellow Federal Court judge Datuk Nordin Hassan who read out the court’s judgment, said tour agent Ting Siu Hua’s counterclaim was to claim recovery of gambling debts from businessman Datuk Ting Ching Lee.
“It is undisputed that the credit lines and the rolling rebate were for the appellant (Ching Lee) to purchase…
Kuala Lumpur: The Federal Court has ruled that gambling debts are not legally enforceable in Malaysia as betting is a vice.
According to Free Malaysia Today, a panel at the apex court unanimously noted that the government has consistently opposed gambling in Parliament, citing its lack of public benefit.
Justice Datuk Nordin Hassan, who chaired the panel, said this was patent from laws such as Sections 24 and 31(1) of the Contracts Act 1950 and Section 26 of the Civil Law Act 1956.
“Public perception of gambling is also without doubt that such activities are something bad and should be discouraged. Thus, gambling activities and their transactions are against public policy,” he was quoted as saying.
PUTRAJAYA: A businessman from Sarawak has won his appeal at the Federal Court to set aside a tour agent’s counterclaim against him, which sought to recover gambling debts.
In a unanimous decision delivered on Wednesday (Feb 26), the three-judge panel, led by the Chief Judge of Sabah and Sarawak Abdul Rahman Sebli, ruled that gaming and wagering contracts are deemed unlawful and gambling debts are not enforceable under Malaysian law.
Fellow Federal Court Judge Nordin Hassan, who read out the judgment, said that tour agent Ting Siu Hua’s counterclaim was to recover gambling debts from businessman Datuk Ting Ching Lee.
Hyvia announced in a brief statement that the Court of Economic Activities of Versailles had converted the insolvency proceedings, which had been ongoing for several weeks, into a court-ordered liquidation on 18 February. The reason given by the joint venture is that the insolvency administrator had not come across a “credible takeover offer” in his search for potential buyers. It added: “The difficulties encountered by HYVIA essentially result from the too slow emergence of hydrogen mobility ecosystems in Europe and the very significant development costs required for hydrogen innovation.”
As reported earlier this month, Hyvia filed for bankruptcy in December at the Versailles Commercial Court and has since obtained an extension…
KUALA LUMPUR, Feb 27 — The Federal Court has ruled that gambling debts are not legally enforceable in Malaysia as betting is a vice.
According to Free Malaysia Today, a panel at the apex court unanimously noted that the government has consistently opposed gambling in Parliament, citing its lack of public benefit.
Justice Datuk Nordin Hassan, who chaired the panel, said this was patent from laws such as Sections 24 and 31(1) of the Contracts Act 1950 and Section 26 of the Civil Law Act 1956.
“Public perception of gambling is also without doubt that such activities are something bad and should be discouraged. Thus, gambling activities and their transactions are against public policy,” he was…
After going into a brief trading halt on Monday, New Zealand medical cannabis company Greenfern Industries emerged to announce it was going into receivership.
“Damien Grant and Adam Botterill of Waterstone Insolvency have been appointed as receivers and managers over Greenfern Industries Limited (NZX: GFI). This appointment has been made pursuant to the powers granted under a General Security Agreement between GFI and Emdex Limited, dated 20 December 2024.”
Waterstone is also handling the insolvency of another NZ cannabis firm – the company behind Medical Kiwi, which entered liquidation on February 4. Medical Kiwi was not NZX listed, but raised funds through sources including crowdfunding.
In a devastating blow to local crafters and DIY enthusiasts, JOANN Fabric and Crafts announced Sunday the closure of all 800 stores nationwide, including the American Fork location in Utah.
The American Fork store, situated in a shopping center that recently lost Big Lots, will begin liquidation sales immediately. The closure marks the second major anchor tenant to vacate the shopping center in recent months, raising concerns about the future viability of the retail complex.
“Following a comprehensive sale process and auction, GA Group together with the Prepetition Term Loan Agent, has been selected as the winning bidder to acquire substantially all of JOANN’s assets,” a company…
