Monday, September 8, 2014

Market News In 2 Minutes @ 9th 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. United Overseas Bank (U11) - Is partnering with Japanese financial services firm Orix Corp to launch a US$200 million ($250 million) mezzanine fund, reported the local media. Called the United Orient Capital Fund, it aims to provide expansion capital to mid-sized companies in South-east Asia. (source : The Edge)

2. Straits Trading Co (S20) - Plans to sell an office building in the bustling financial district for $450 million ($359 million), the company said on Friday. For more details, click here. (source : The Edge)

3. Charisma Energy Services (5QT) - Said it has secured a 7-year contract with a value of US$72 million ($90 million) to provide a fleet of five offshore support vessels to support the marine and oil & gas activities of a Middle Eastern national oil company in the Arabian Sea. (source : The Edge)

4. Tuan Sing Holdings (T24) - Said it has signed an agreement with its joint venture partner, Morgan Stanley, to acquire the remaining 50% interest in Grand Hotel Group (GHG) for a cash consideration of A$126.04 million ($147.2 million). For more details, click here. (source : The Edge)

5. Sunmoon Food Company (AAJ) - Entered into a non-binding memorandum of understanding to acquire a 51 percent stake in Ban Fresh for $5.6 million. The target company is in the business of global procurement of fresh fruits and vegetables as well as engaging in sales of the same products in Singapore and other countries in Asia. (source : Shares Investment)


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