Wednesday, September 10, 2014

Market News In 2 Minutes @ 10th September 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. Olam International (O32) - The agri-business operating across the value chain in 65 countries, said its wholly-owned dairy farming subsidiary New Zealand Farming Systems Uruguay (NZFSU) will be investing US$80 million ($100.8 million) to establish a new dairy processing facility in the central region of Uruguay, accessible to its farms. For more details of the report, click here. (source : The Edge)

2. Global Logistic Properties (MC0) - The provider of modern logistics facilities in China, Japan and Brazil, has signed new lease agreements totalling 936,000 square feet with three leading third-party logistics (3PL) companies in Eastern and Midwestern China. GLP is also extending strategic partnerships with Sinotrans and Best Logistics. (source : The Edge)

3. Singapura Finance (S23) - Proposed a rights issue of 79.3 million shares at $1 per share to strengthen its capital base, and allow the company to be better positioned to take advantage of opportunities for business growth. In addition, based on the proposed number of rights, four parties are expected to participate in these rights issue through the subscription of 52.3 percent of these rights. (source : Shares Investment)

4. Singapore Shipping Corporation (S19) - Purchased a new build Pure Car Truck Carrier for US$80 million. Upon delivery, the vessel is expected to be deployed on a long-term charter to a major shipping company. (source : Shares Investment)

5. Starburst Holdings (40D) - Have been awarded a contract worth $3.2 million for the maintenance of certain firearm shooting ranges in Southeast Asia. Under the contract, the group will provide comprehensive services for the maintenance of ballistic protection system of these firearm shooting ranges (which were previously completed by the group in 2012) for a period of three years up to July 2017. (source : Shares Investment)

6. Swiber Holdings (AK3) - Intends to issue Rmb450 million worth of fixed rate notes, yielding 7.75 percent per annum and mature in 2017. The notes will be issued under the $1 billion multicurrency debt issuance programme established by the company. The net proceeds generated from the notes issued will be used to finance the general working capital, capital expenditure requirements and the refinancing of existing borrowings of the company. (source : Shares Investment)


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