Tuesday, December 30, 2014

Market News In 2 Minutes @ 30th 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. Keppel Corporation (BN4) - Its unit, Keppel Offshore & Marine has secured a more than US$100 million contract to build one of the world’s largest land drilling rigs for a major operator. The drilling rig is scheduled for delivery in mid-2016. (source : Shares Investment)

2. Nam Cheong (N4E) - Has secured a sales contract of two vessels worth US$45 million, selling an anchor handling towing supply vessel to Netherlands-based Vroon BV, and a platform supply vessel to EA Temile Development Company of Nigeria. Both are repeated customers. With the above contracts, Nam Cheong’s order book stands at RM1.7 billion. (source : Shares Investment)

3. Otto Marine (G4F) - Has sold an anchor handling tug supply vessel to a renowned unrelated third party for US$100 million. The vessel is still under construction in Batam, Indonesia, and is expected to be completed in 2Q15. Upon completion of the vessel, Otto Marine’s subsidiary GO Offshore (L) will charter it for eight years. As at 30 September 2014, the company’s net order book stood at approximately US$500 million. (source : Shares Investment)

4. OUE (LJ3) - Has entered into a conditional agreement with Gemdale Properties and Investment Corporation to subscribe for HK$1.5 billion ($256.4 million) worth of shares, representing approximately 23 percent of its enlarged issued share capital. The acquisition target will allow OUE access into China’s real estate, and provide OUE the opportunity to leverage on future potential collaborations and partnerships. (source : Shares Investment)

5. Sheng Siong Group (OV8) - Has executed a US$10 million joint venture effort with Kunming LuChen Group Co to operate supermarkets in China. Sheng Siong will contribute to 60 percent of the venture’s equity, followed by 30 percent from LuChen Group and 10 percent by Tan Ling San, Sheng Siong’s executive director. The conditional agreement is still subject to the Chinese authority’s approval. (source : Shares Investment)

6. Ryobi Kiso (J8O) - Said its wholly-owned subsidiary, PT Mulia Indah Perkasa (MIP) has entered into an agreement with PT Eka Karya Konstruksi (EKKONN) to jointly develop a property in Bekasi, greater Jakarta, Indonesia (source : The Edge Singapore)

7. Digiland (G77) - Said it has entered into an agreement to sell up to 7.3 billion new shares at 0.1 cent each to Goodwood Associates Pte Ltd. (source : The Edge Singapore)


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