Tuesday, April 1, 2014

Market News In 2 Minutes @ 1st April 2014

Market News in 2 minutes
Happy April Fool's Day to all and don't get fooled, especially by Mr Market ;-)

As stock investors (even though a small one), it is important to keep abreast with the latest financial and market news. Since I am in it, I thought it might be worthwhile to share it out with my readers too.

Hence, I started this "Market News In 2 Minutes" series.
Following are the "Market News In 2 Minutes" for today :
1. Nam Cheong (N4E) - Malaysia’s largest Offshore Support Vessel (OSV) builder, sold two vessels worth US$43.1 million ($54.4 million). With these two latest sales contracts, Nam Cheong’s order book has hit $539.8 million. (source : The Edge)
2. Tan Chong International (T15) - Posted a 91% rise in net profit to HK$2.06 billion ($329.2 million) for the year ended Dec 31. Contribution to consolidated profit derived from an increase in fair values of listed securities amounted to HK$1.4 billion. Full year revenue rose 40.1% to a record HK$9.15 billion. (source : i3 investor)
3. Second Chance Properties (528) - Reported a modest 3.9% gain in revenue to $10.5 million from $10.1 million, for the quarter ended 28 February 2014. The increase was mainly due to better performance from its securities business while performances of all other business segments were weaker.  Earnings slumped 9.9% to $2.7 million from $3 million. For the six-month period, revenue remained flat at $19.7 million and earnings was up 3.2% to $6.6 million. (source : Shares Investment)

4. Zagro Asia (Z01) -  Proposed to acquire Orion Crop Protection, a company incorporated in New Zealand which distributes agriculture chemicals, for an estimated purchase consideration of NZ$8.4 million (approximately $9.2 million).


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