Tuesday, July 8, 2014

Market News In 2 Minutes @ 8th 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. Ascott Residence Trust (Ascott REIT) has entered into agreements to acquire its first serviced residence in Kuala Lumpur, Malaysia as well as Wuhan and Xi’an in China at a total property value of $173.9 million and an EBITDA yield of 5.1% on a pro forma basis for FY 2013. The accretive acquisitions are expected to increase FY 2013 distribution per unit by 1.2% from 8.71 cents1 to 8.81 cents on a pro forma basis. (source : The Edge)

2. Cordlife Group (P8A) - Corporate Moves : Tan Huiying has been appointed director, diagnostic business unit wef July 1 ; Woon Geok Peng has been appointed director, banking strategic business unit wef July 1 (source : The Edge)
3. Q&M Dental Group (QC7) - Plans to open more branches in Asia, especially in China and Malaysia. The move comes after Q&M officially opened the Aoxin Q&M Children Dentistry Centre in Shenyang, Liaoning province, China, on 4 July 2014. (source : The Edge)
4. JES International Holdings (EG0) - the China-based shipbuilding group, announced that it has entered into a sales and purchase agreement in relation to the group’s proposed acquisition of 51% of the entire issued and paid-up capital of SCIBOIS. For complete report, click here. (source : The Edge)
5. Vard Holdings (MS7) -  Has acquired STX Canada Marine, a marine engineering and design company that is incorporated in Vancouver, Canada, for a purchase consideration of NOK65.4 million in cash. The acquisition is in line with the company’s strategy of increasing its engineering and design capacity, and growing its business in North America. STX Marine will operate under the name of Vard Marine. (source : Shares Investment)

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