Monday, December 8, 2014

Market News In 2 Minutes @ 8th 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. Chiwayland International (ACW) - Its Australian subsidiary has entered into a memorandum of understanding with an Australian property firm to explore a possible joint venture (JV) for a project development in Sydney, New South Wales, Australia. (source : Shares Investment)

2. Declout (5UZ) - Its JV, Epicsoft Asia, has bought a web and mobile business, Playworks, from its business partner, Choo See Wee, for a cash amount of US$1 million. The business deals with developing web and mobile portals, and marketing services for the technology and gaming industries. As of 13 October, Playworks’ management accounts show a net tangible asset value of $273,000. (source : Shares Investment)

3. Miyoshi Precision (M03) - Is increasing its investment in Green Galaxy, a light electric vehicle (LEV) maker, from 5.13 percent to 55 percent. Miyoshi’s $3 million investment comprises 32 million new shares of $2 million issued to Hong Kong-based JV partner Promise New Energy Development, and $1 million in cash for capital. (source : Shares Investment)

4. Olam International (O32) - Agreed to buy US-based peanut sheller McClesky Mills for US$176 million. This acquisition will give Olam advancement in the US peanut value chain, and is expected to complete by 3Q15. The acquisition is funded by internal funds as well as existing debt facilities of Olam. (source : Shares Investment)

5. IPO : Keppel DC REIT - Will sell about 261.1 million units at an offer price of 93 cents each to raise $243 million at its IPO, which will be closing at 12 noon on 10/12/2014 (Wed). (source : The Edge Singapore)

6. Xpress Holdings (I04) - Is seeking to raise more than $23 millions to repay debt and fund growth through acquisitions. The company has inked a non-binding memorandum of understanding with Ma Wei Dong, Chairman of Kunming LuChen Group for the fundraising exercise. (source : The Edge Singapore).

7. ASL Marine (A04) - Has reached an agreement with a customer to rescind shipbuilding contracts for two offshore support vessels. (source : The Edge Singapore)

8. IPS Securex (40A) - The provider of security products, is proposing a share split of every one existing ordinary share held by shareholders into two shares. The company currently has issued and paid-up share capital of $9.4 million comprising 81 million shares. (source : The Edge Singapore)


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