Tuesday, November 4, 2014

Market News In 2 Minutes @ 4th November 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. REITS : Forterra Trust (LG2U) - Saw a 54.4 percent decline in NPI to $5.3 million for the third quarter ended 30 September led by a broad based reduction of rental contributions across all of its investment properties. Consequently, losses expanded further as net loss came in at $19.7 million. For the nine months, NPI dropped 45.5 percent to $22.1 million as the trust sank into losses of $168.3 million. (source : Shares Investment)

2. Keppel Corporation (BN4) - Secured a contract worth US$240 million for a Keppel FELS Super B Class jackup rig. The vessel which boosts better performance and productivity which is capable of operating at water depths of 400 feet, is expected to be complete by end-2016. (source : Shares Investment)

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3. REITS : OUE Commercial (TS0U) - Posted a net property income (NPI) of $14.9 million that was 6.3 percent above forecast for the third quarter ended 30 September, mainly attributable to better than expected occupancy rates and rental reversions. Subsequently, amount available for distribution came in at $12.2 million, 3.2 percent above forecast. The trust has a distribution per unit of $0.014.  (source : Shares Investment)

4. Sembcorp Marine (S51) - Secured a contract worth US$240 million to build a new jack-up drilling rig. The new rig is capable of operating in water depths of 400 feet and drilling higher pressure and temperature wells to water depths of 35,000 feet. The newest order is expected to be complete and delivered in October 2016. (source : Shares Investment)


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