Thursday, November 6, 2014

Market News In 2 Minutes @ 6th 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 : Ascott Residence Trust (A68U) - Its top line grew 8.9 percent to $93.7 million in the three-month period ended 30 September, driven by acquisitions in Japan and China as well as stronger demand from corporate and leisure sectors in the UK. Subsequently, amount distributable to unitholders grew 7.8 percent to $32.3 million and the trust declared a distribution per unit of $0.0211. For the nine months, turnover and amount distributable to unitholders expanded 12.7 percent and 4.5 percent to $262.2 million and $92.5 million respectively. (source : Shares Investment)

2. Asian Pay Television Trust (S7OU) - Recorded a 2.4 percent increase in revenue to $80.5 million for the three months ended 30 September, supported by better performances in its basic cable TV and premium digital cable TV segments. However, higher interest and income tax expenses dragged down its bottom line by 17 percent to $15.1 million. For the nine months, turnover more than doubled to $236.9 million while net profit quadrupled to $98.1 million. (source : Shares Investment)

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3. Brooke Asia (5OY) - Has agreed to acquire China Star Food Holdings for $168 million. The latter is engaged in the cultivation, production and distribution of sweet potato food products in China. The purchase will be satisfied via an issuance of 840 million shares of Brooke Asia at $0.20 apiece. The move is considered a reverse takeover as the sellers would own about 90.8 percent of Brooke Asia following the acquisition. source : Shares Investment)

4. TEHO International (5OQ) - Has entered into a 49:51 joint venture with Okhna Sok Bun to engage in real estate development in Cambodia, beginning with an 18,871 square metres plot of land owned by the latter. The move will enable TEHO to participate in the growth prospects of property development in Cambodia. (source : Shares Investment)


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