Friday, October 3, 2014

Market News In 2 Minutes @ 3rd October 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. KS Energy (578) - Says client OP Hawler Kurdistan recently terminated its contract with subsidiary Atlantic Onshore Services BV to provide drilling services using KS Discoverer 1. OP Hawler Kurdistan has declared a force majeure after continuing unrest in Kurdistan restricted access to the work-site and shut down operations. (source : The Edge)

2. Sysma Holdings (5UO) - says it has secured a new contract to erect a two-storey detached dwelling house at Maryland Drive. Valued at $8 million, construction of the house is scheduled to take place over a period of 18 months starting from October 2014. (source : The Edge)

3. Rex International Holding (5WH) - Says its subsidiary Rexonic AG has secured its first contract from an undisclosed state-owned oil company. The contract, valued US$10 million ($12.7 million), is expected to start at the end of 2014 and should be completed over 24 months. (source : The Edge)

4. Sino Grandness Food Industry Group (T4B) - Said it has agreed to place out 86 million new shares to PM Group Company Limited and Soleado Holdings at 61 cents each to raise $52.5 million. (source : The Edge)

5. UOB (U11) - Was among nine of the international banks to be awarded a licence by the Central Bank of Myanmar to open a banking branch in Myanmar. UOB views that the licence would allow the group to more actively participate in Myanmar’s rapid economic development. (source : Shares Investment)

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