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. REITS : CitySpring Infrastructure Trust (A7RU) - Its revenue slipped 2 percent to $127.1 million for the second quarter ended 30 September, mainly as a result of lower contributions from SingSpring and Basslink. While total expenses fell 2.4 percent led by an 18.3 percent reduction in other operating expenses, losses expanded to $1.6 million. For the six months, revenue edged up 1.5 percent to $260.5 million while the trust returned to the black to recognise profit of $0.9 million. A distribution per unit of $0.0082 was declared for the quarter. (source : Shares Investment)
2. REITS : Forterra Trust (LG2U) - Received a conditional cash offer of $1.85 per unit from New Precise Holdings, a subsidiary of Nan Fung International Holdings to acquire 177.9 million units in the trust. This was upon New Precise’s move of exercising its unit options at $0.35 per unit to acquire 3.1 million units in Forterra Trust, resulting in New Precise to own 30.8 percent of the total issued units in Forterra Trust. (source : Shares Investment)
3. Koon Holdings (5DL) - Has entered into a 20:80 joint venture (JV) with Penta-Ocean Construction Company to partake in a land preparation work for the expansion of Changi Airport which was secured via a contract that is worth $1.1 billion. Under the JV company, Penta-Ocean/Koon Joint Venture, will carry out works in phases to allow the construction of new facilities including the extension of Runway 3 and Terminal 5 at Changi Airport. (source : Shares Investment)
4. REITS : OUE Hospitality Trust (SK7) - Revenue was up 31.8 percent to $28.5 million for the third quarter ended 30 September, mainly as a result of higher revenue generated from Mandarin Orchard Singapore. Consequently, net income accelerated 81.1 percent to $19.1 million. For the same quarter, the trust has declared distribution per unit of $0.0164. (source : Shares Investment)
Cheers!
2. REITS : Forterra Trust (LG2U) - Received a conditional cash offer of $1.85 per unit from New Precise Holdings, a subsidiary of Nan Fung International Holdings to acquire 177.9 million units in the trust. This was upon New Precise’s move of exercising its unit options at $0.35 per unit to acquire 3.1 million units in Forterra Trust, resulting in New Precise to own 30.8 percent of the total issued units in Forterra Trust. (source : Shares Investment)
3. Koon Holdings (5DL) - Has entered into a 20:80 joint venture (JV) with Penta-Ocean Construction Company to partake in a land preparation work for the expansion of Changi Airport which was secured via a contract that is worth $1.1 billion. Under the JV company, Penta-Ocean/Koon Joint Venture, will carry out works in phases to allow the construction of new facilities including the extension of Runway 3 and Terminal 5 at Changi Airport. (source : Shares Investment)
4. REITS : OUE Hospitality Trust (SK7) - Revenue was up 31.8 percent to $28.5 million for the third quarter ended 30 September, mainly as a result of higher revenue generated from Mandarin Orchard Singapore. Consequently, net income accelerated 81.1 percent to $19.1 million. For the same quarter, the trust has declared distribution per unit of $0.0164. (source : Shares Investment)
Cheers!
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