Monday, June 23, 2014

Market News In 2 Minutes @ 23rd June 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. SIA (C6U) -  (1) An air operators' permit (AOP) is expected to be issued to the Tata-Singapore Airlines (SIA) joint venture in July and commercial operations are likely to start in September, according to India’s Financial Express newspaper. (source : The Edge) ; (2) Singapore Airlines’ Scoot entered a joint venture agreement with Nok Airlines Public Company Nok Mangkang Company and Pueannammitr Company (PNM) to set up a joint venture airline through the acquisition of the existing Pete Air Company (@ 2 billion baht or $80 million). The company believes that acquiring Pete Air will expedite the start-up in Thailand as compared to a green field venture. (source : Shares Investment)

2. Genting Singapore (G13) - Plans by Genting Singapore to develop a casino in South Korea's Jeju Island have hit a road bump. Just days before a planned ground-breaking event on June 24, the company has decided to reschedule the ceremony. For more details, click here. (source : The Edge)

3. Sunningdale Tech (T35) - Said it has entered into placement agreements with several high-profile investors including Yarwood Engineering & Trading and Sam Goi. It has agreed to issue an aggregate of 153 million new shares at $0.1633 each to both the investors to raise gross proceeds of roughly $24.9 million. (source : The Edge)

4. EuroSports Global (5G1) - Has acquired a 60 percent stake in the following companies: (1) Autoinc Sports, (2) Autoinc Lifestyle (3) Birel Singapore for a consideration of $1.5 million. The target companies are involved in the trading of sports and luxury automobiles, maintenance and grooming services for luxury automobile and the retail of go-karts and provision of maintenance and storage service for go-karts. (source : Shares Investment)

5. Advance SCT (5FH) - Has proposed the placement of 1.7 billion new shares at $0.0019 per share, representing a discount of approximately 5 percent to the weighted average price of $0.002 per share as of 19 June. The proceeds for the placement will be around $3.1 million and the bulk of it will be used to fund the company’s growth and expansion plans. (source : Shares Investment)

6. Vibrant Group (F01) - Its wholly owned subsidiary Singapore Enterprise has purchased a 51 percent stake in Shentocil for $51,000. Vibrant intends to upgrade the property to maximise gross floor area and views it as a good investment held for rental and capital appreciation. (source : Shares Investment)


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