Monday, December 15, 2014

Market News In 2 Minutes @ 15th December 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. ComfortDelGro Corporation (C52) - Reported a divestment of its 25 percent equity interest in Hengyang Citycab Bus Services Co for a cash consideration of Rmb1.7 million, as well as an acquisition of 49 percent of shares in Australian-based bus planning and scheduling specialist, Phillip Boyle & Associates, for a consideration of A$0.5 million. (source : Shares Investment)

2. Sinarmas Land (A26) -  Has entered into an agreement for the sale of New Brook Buildings, a property in United Kingdom, for a consideration of GBP113.4 million. The disposal was commenced to realise an attractive rate of return during an upturn in value of properties in the area. Net proceeds will be used to repay bank loan on property, as working capital and for future acquisition and investment purposes. The company believes the disposal will increase earnings per share as well as the net tangible assets of the company. (source : Shares Investment)

3. AP Oil International (5AU) - Announced its decision to divest its 38.2 percent stake in Systematic Laundry & Uniform Services through a sale and purchase agreement with Systematic Holdings, for a cash consideration of $2 million and $0.3 million subsequently in a separate tranche. Systematic Laundry is a locally incorporated associate of AP Oil International, dealing in the laundry and dry cleaning business. (source : Shares Investment)

4. Falcon Energy Group (5FL) - Disclosed that its subsidiary Energian will make a voluntary conditional cash offer to acquire all the shares of CH Offshore, an offshore service provider in the oil and gas industry, at a price of $0.495 per share. The offer will allow Falcon Energy Group statutory control of the acquired company, and make it a subsidiary to unlock synergistic value while maintaining its listing on the Singapore Exchange. (source : Shares Investment)

5. Hwa Hong Corporation (H19) - Announced that its subsidiary Vantagepro Investment has acquired 70 percent of shares in Capital Eagle. The corporation will indirectly have ownership of Capital Eagle’s recent acquisition of freehold properties at the Eagle House, London. The acquisition will allow the corporation to add the UK-based investment into their portfolio, and is believed to complement Hwa Hong’s other investments in the country. (source : Shares Investment)


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