Monday, December 29, 2014

Market News In 2 Minutes @ 29th December 2014

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. The Straits Trading Company (S20) - Has entered into a share transfer agreement to dispose all shares of its indirect subsidiary Shanghai Straits Trading Co, to Baijia International Group (Hong Kong) for a consideration of Rmb19.3 million. After the disposal, Shanghai Straits Trading Co will cease to be a subsidiary of the company. (source : Shares Investment)

2. Wee Hur Holdings (E3B) - Has acquired a 16,946 square metres plot of land located in Woolloongabba, Brisbane, from a third party for a consideration of AUD51.3 million ($55.2 million). The acquisition is in line with the company’s strategy to venture into overseas property development, and the company will in due time acquire an additional 2,194 square metres of land for AUD5.2 million ($5.6 million), a necessary acquisition as it forms part of the intended development. (source : Shares Investment)

3. Isetan (I15) - Has said that "it shall likely" stop its retail operations at its Wisma Atria outlet from 2H2015 onwards. What isetan plans to do is lease out the space to other retailers and F&B business operators. (source : The Edge Singapore)

4. Stamford Land (H07) - Its subsidiary SLC Campsie has agreed to sell freehold property in new South Wales to an Australian real estate fund for A$51 million ($54 million). (source : The Edge Singapore)

5. REITS : Parkway Life (C2PU) - has solf 7 nursing homes in Japan for 7.95 billion Yen ($88.3 million) to Fortress Japan Investment Holding LLC, a leading global investment firm. The manager said the maiden divestment is in line with their recycling strategy to rebalance and strengthen the overall quality and growth potential of its Japanese portfolio. (source : The Edge Singapore)

6.  TEE Land (S9B) - Via its subsidiary, TEE Hospitality, has bought another hotel (Diamant Hotel) in Sydney for A$23.2 million ($24.89 million). The deal was made via a joint venture company, Potts Point Hospitality Pty Ltd, in which TEE Land holds a 55% stake. (source : The Edge Singapore)

7. IPC Corp (I12) - has sold two of its hotels in Japan for a total of $29.6 million to Ichigo Group Holdings, a manager of a Tokyo-listed REIT. (source : The Edge Singapore)


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