Friday, October 10, 2014

Market News In 2 Minutes @ 10th October 2014

Market News in 2 minutesAs 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. EMAS Offshore (UQ4) - Ezra’s associated firm kicked off its secondary listing on the Singapore Exchange's Mainboard yesterday on a lacklustre note, trading as low as 14% below its initial public offer price of $1.21 on its first day. EMAS closed at $1.045. (source : The Edge)

2. Global Logistic Properties (MC0) - Signed a partnership agreement with China Development Bank (CDB) Capital, a subsidiary of China Development Bank. Under the strategic partnership, GLP will become CDB Capital’s major partner for logistics infrastructure development. The agreement is expected to enhance GLP’s access to land and financing resources in China. (source : Shares Investment)

3. Mapletree Logistics Trust (M44U) - Acquired two properties in China, namely Mapletree Yangshan Bonded Logistics Park (MYBLP) and Mapletree Zhengzhou Logistics Park (MZLP) for Rmb197.2 million (approximately $41.1 million) and Rmb205.6 million respectively. MYBLP comes with a 50-year land tenure which began in August 2006 and has a gross floor area (GFA) of 46,000 square metres (sqm), while MZLP has a GFA of 79,315 sqm and 50-year land tenure with effect from May 2012. Both properties are purchased below valuations and will be financed through the use of debt. (source : Shares Investment)

4. Ryobi Kiso Holdings (J8O) - Clinched new contracts worth $130.4 million involving the provision of foundation and geo-service works. Including the newest wins, the company’s order book stands at $179.2 million. The above new contracts are expected to be delivered during June 2015 and June 2016. (source : Shares Investment)

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