Market News In 2 Minutes @ 28th April 2014

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. Raffles Medical Group (R01) - Posted a net profit of $14.56 million for the first quarter ended March, 8% higher than the $13.48 million a year ago. (source : The Edge)

2. Wilmar International (F34) - Australian food company Goodman Fielder said it had received a takeover offer proposal from Wilmar International and Hong Kong's First Pacific Company, but said the offer undervalued the company. (source : The Edge)

3. Ramba Energy (R14) - Has received proposals from interested bidders for the acquisition of a minority interest in the Lemang Block in Indonesia. The upstream oil and gas player holds a 51% working interest in the block. (source : The Edge)

 

4. GuocoLand (F17) - Posted a net profit of $21.5 million for the 3Q ended March. This reverses the $13.3 million loss it posted in the same period last year. Revenue nearly tripled to $270.2 million, up from $92.4 million previously. (source : The Edge)

 

5. Chip Eng Seng Corporation (C29) - Agreed to purchase two pieces of leasehold land in Malacca, Malaysia, measuring 4,210 square metres, for RM19 million. The company intends to develop them into a mixed-use high rise development comprising a hotel, retail units and serviced apartments. (source : Shares Investment)

 

6. OKP Holdings (5CF) -  Secured a $37.3 million contract to widen Tanah Merah Coast Road, design and build vehicular bridges with services trough and all related drainage works for the area. The contract, awarded by Land Transport Authority, commenced on 21 April and is expected to be completed by 31 May 2017. (source : Shares Investment)

 

7. Union Steel Holdings (V69) - Acquiring eight parcels of land in Malaysia, along with the accompany buildings, plant, machineries, equipment and vehicles for RM41.8 million ($16.1 million). The proposed acquisition is expected to increase its market share and presence in Malaysia. (source : Shares Investment)

 

Cheers!