Friday, October 17, 2014

Market News In 2 Minutes @ 17th 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. Armarda Group (5EK) - Proposed the acquisition of Guiyang Tech for a price between Rmb160 million to Rmb200 million. The proposed acquisition will enable the group to integrate and enhance its own range of mobile and information technology platforms. In addition, the group will be able to leverage on Guiyang Tech’s data centre and customer base to strengthen its reach in the China market. (source : Shares Investment)

2. BBR Holdings (KJ5) - Secured two specialised engineering projects in Terengganu, Malaysia, worth RM335 million. The first project involves the design and construction of a new marina base and connecting bridge at Pulau Poh and is targeted for completion in June 2017. The second project comprises the design and construction of a 362-metre long precast girders bridge in Kuala Berang District and is targeted to be completed in February 2016. (source : Shares Investment)

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3. Noble Group (N21) - Agreed to fully acquire the share capital in Alcoa Minerals of Jamaica (AMJ), a company incorporated in Delaware, US, for US$140 million in cash. AMJ’s principal business is via its participation in a joint venture in Jamaica for the production and sale of alumina. (source : Shares Investment)

4. Sabana REIT (M1GU) - Reported a 16.3 percent gain in gross revenue to $25.1 million for the third quarter ended 30 September, due to contribution from a newly acquired property in September 2013, as well as higher contribution from 151 Lorong Chuan. However, amount available for distribution was down 18.4 percent to $12.7 million on the back of a four-fold increase in property expenses. The trust declared a distribution per unit of $0.0181 for the third quarter. (source : Shares Investment)


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