Market News In 2 Minutes @ 7th August 2014

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. TEE International (M1Z) - The engineering and real estate group, said it won a total of $60 million worth of contracts to carry out mechanical and electrical works for the The Parisian Macao, located at the Cotai Strip in Macau. . (source : The Edge)

2. Frasers Centrepoint Limited (TQ5) - Says it has received 28.65% acceptances for the offer to acquire up to 100% of Australand Property Group at $4.48 per share as of 6.30pm Sydney time yesterday. (source : The Edge)

 

3. ComfortDelGro Corporation (C52) - Its subsidiary, ComfortDelGro Cabcharge (CDC), has acquired assets which includes three depots and a fleet of 101 buses and coaches of the Blue Mountains Bus Company (BMBC) for a consideration $30.8 million. (source : Shares Investment)

4. Noble Group (N21) - Its subsidiary, Noble Jade B.V, acquired a 70 percent stake in Danube Shipping-Stevedoring Company (DSSC) for a consideration of US$21.7 million. This acquisition will be the first phase of an origination platform and pipeline that will supply the group with up to 3 million metric tonnes of grains and oilseeds per annum. (source : Shares Investment)

 

5. United Engineers (U04) - Its indirect subsidiary MFS Technology has agreed to the divestment its assets and liabilities, including its entire issued share capital of MFS Technology (S) to Novo Tellus PE Fund 1 and Navis Asia Fund VII for an aggregate cash consideration of $124.2 million. Upon completion of the proposed divestment, MFS Technology will no longer be subsidiaries of the group. (source : Shares Investment)

6. Wee Hur Holdings (EB3) - Its subsidiary, Wee Hur International, entered into a joint venture agreement under which it has proposed to acquire the entire stake in a mixed-use development project, which is currently under development, in Jiangsu Province, China for a consideration of Rmb 27.3 million. (source : Shares Investment)

Cheers!