Wednesday, December 31, 2014

Market News In 2 Minutes @ 31st 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. Lian Beng Group (L03) - Has announced a disposal of indirectly owned Epic Land (19-2), to an unrelated third party for a consideration of $16.7 million. Upon completion of the disposal, Epic Land (19-2) will no longer be an associate company of its parent company Epic Land, as well as Lian Beng Group, which holds a 32 percent stake in the latter. (source : Shares Investment)

2. United Engineers (U04) - Has signed a conditional sales agreement with Asia Facility Solutions to dispose its 51 percent stake in UE Managed Solutions and 100 percent stake in UE Service Corp (Taiwan). UE Managed Solutions is an investment holding company having four wholly owned subsidiaries, while UE Service Corp (Taiwan) provides facilities management services. The total consideration of the sale was derived at $12.7 million, after taking into account net asset value and prospect of the two businesses. (source : Shares Investment)

3. Lorenzo International (5IE) - Is in talks to set up a joint venture initially worth $124 million as part of its proposed acquisition of a company specialising in genetics. (source : The Edge Singapore)

4. ASTI Holdings (575) - Is selling its entire 24.2% stake in Singapore-incorporated APSI, for $8.9 million. (source : The Edge Singapore)

5. Compact Metal (T4E) - Will raise $8 million through a share placement to fund its new cement business. It will place out 160 million new shares at 5 cents each to SL Capital Ventures. (source : The Edge Singapore)


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