Tuesday, July 22, 2014

Market News In 2 Minutes @ 22nd July 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. Land Transport Authority (LTA) said it will impose $1.6 million in fines on train operator SMRT (S53) for four train service disruptions that happened between October last year and May this year. It will also fine SBS Transit (S61), which runs the North East Line (NEL), $50,000 for a disruption in March this year. (source : The Edge)

2. IPO Watch : Tritech Group, the homegrown firm focused on high-tech-oriented engineering products and services said wholly-owned subsidiary, Terratech Group, has launched its initial public offering (IPO) in Sinagpore and has registered its offer document with the SGX acting as agent on behalf of the Monetary Authority of Singapore.

Terratech will issue some 108.7 million shares, comprising 43.5 million new shares and 65.2 million vendor shares, at 23 cents each. The placement will close close at 12 noon on July 25. Listing and trading of Terratech’s shares will start at 9 a.m. on July 30. (source : The Edge)

3. Golden Agri-Resources (E5H) - Has established a 50:50 joint venture with CEPSA Química to jointly develop, formulate, produce, distribute and sell fatty alcohols at a global level. The joint venture company, Sinarmas Cepsa will be headquartered in Singapore and is expected to benefit from both companies’ expertise, knowledge and capabilities throughout the fatty alcohols supply chain. (source : Shares Investment)

4. Jubilee Industries Holdings (5OS) - Proposed the acquisition of WE Components, a subsidiary of WE Holdings, for a purchase consideration of US$8.4 million. (source : Shares Investment)


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