Wednesday, May 21, 2014

Market News In 2 Minutes @ 21st May 2014

Market News in 2 minutes

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. Singapore’s 1Q14 Gross Domestic Product (GDP) grew 4.9 percent on a year-on-year basis, led by a 9.8 percent expansion in the manufacturing sector. The figure was marginally lower than the government’s initial estimate of 5.1 percent and the median estimate of 5.5 percent by 10 economists polled by Thomson Reuters. (source : Shares Investment)

2. Olam International (O32) - Has secured a US$2.2 billion revolving credit facility to refinance its existing debt as well as meeting working capital and general corporate funding purposes. (source : Shares Investment)

3. ST Engineering (S63) - Has acquired Aviation Academy of America, a US flight school, for US$0.8 million ($1 million). The move is part of ST Engineering’s strategy to grow its pilot training capacity and capabilities to support the growing worldwide demand. (source : Shares Investment)

4. MYP (F86) - Proposed to acquire Affreton and the remaining 80-percent stake of Grace Shine, which it does not own, for $193.5 million. The target firms own two commercial buildings, ABI Plaza and MYP Plaza, as well as three condominium units. The combined market value of the properties is $504.5 million. (source : Shares Investment)

5. Vard Holdings (MS7) - Has secured a contract for the design and construction of one platform supply vessel for Carlotta Offshore, with delivery scheduled in 3Q15. (source : Shares Investment)


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