Friday, June 20, 2014

Market News In 2 Minutes @ 19th June 2014

Market News in 2 minutes

TGIF! Wish everyone have a great weekend ahead of you!

My quotes for the weekend : 
Our life is as good (or bad) as what is in our mind! 

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. KS Energy (578) - Announced that its 80% owned subsidiary, KS Drilling, has agreed to sell jack-up rig KS Orient Star 1, for US$84.88 million ($106.1 million). (source : The Edge)

2. Kian Ho Bearing (K22) - The privately-held Raffles United has issued a mandatory unconditional cash offer (23.5 cents in cash for each share) for Kian Ho Bearings offering. The offer price representing a premium of 6.82% to the last transacted price of 22 cents and the closing date is July 17. (source : The Edge)

3. Geo Energy Resources (RE4) - Announced it will be acquiring two coal concessions in South Kalimantan, Indonesia for $55 million. The management said that the acquisition is in line with its strategy to expand its business operations and increase its coal production levels, and will grant access to and control over the coal deposits in the mining permit area. (source : The Edge)

4. Halcyon Agri Corp (5VJ) - Said on Thursday it has offered to buy rubber processing plants in Indonesia for $450 million. For more details, click here. (source : The Edge)

5. Asia Fashion Holdings (GH3) - Via its subsidiary, Rich Circles Enterprise, agreed to purchase China Construction Material, an investment company incorporated in Hong Kong, whose primary business activities include the manufacture and sale of different types of building panels. The purchase consideration of the acquisition is expected to be at Rmb100 million. (source : Shares Investment)

6. CNA Group (5GC) - Proposed a private placement of 16.7 million shares, representing 4.6 percent of the existing share capital in the company. The net proceeds of $1.2 million after deducting expenses will be placed in deposits with banks or financial institutions, while waiting for plans on their utilisation. (source : Shares Investment)


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