Tuesday, June 24, 2014

Market News In 2 Minutes @ 24th 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. Nam Cheong (N4E) - Malaysia’s largest Offshore Support Vessel (OSV) builder announced that it has sold two Accommodation Work Barges (AWB) worth US$84 million ($105 million), with the option to purchase another two vessels, to a repeat customer, Bursa-listed Perdana Petroleum Berhad. For more details of the report, click here. (source : The Edge)

2. Singapore real estate company Frasers Centrepoint (FCL) , backed by Thai billionaire Charoen Sirivadhanabhakdi, plans to raise $365 million by listing its hospitality real estate investment trust (REIT) in Singapore at $0.88, IFR reported. For more details of the report, click here. (source : The Edge)

3. MoneyMax Financial Services (5WJ) - Its subsidiary, Cash Online, has entered into an investment agreement to hold 51 percent stake in a new holding company dealing in the business of pawn broking, to be incorporated in Malaysia. The aggregate consideration of the investment is RM15.6 million. (source : Shares Investment)

4. Wilmar International (F34) - Has entered into a 50:50 joint venture with Repi Soap and Detergent S. The joint venture includes plans to upgrade an existing manufacturing facility in Kolfe Karenio Sub city and to build an integrated manufacturing complex in the Oromia region of Ethiopia. (source : Shares Investment)

5. Yamada Green Resources (MC7) - Its wholly-owned subsidiary, Fuzhou Wangcheng Foods Development (Wangcheng) has agreed to acquire a 19 percent stake in Zhangzhou Meisei Foods Company (Meisei) for Rmb36.4 million. Meisei has a net asset value of Rmb190.8 million as of December 2013. (source : Shares Investment)


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