Tuesday, December 9, 2014

Market News In 2 Minutes @ 9th 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. REITS : Cambridge Industrial Trust (J91U) - Announced an acquisition proposal of 16 International Business Park, Singapore, for a consideration of $28 million. The three-storey building located within International Business Park in Jurong has a gross floor area of approximately 69,258 square feet (sqf) and remaining land tenure of 41.6 years. Upon completion of the acquisition, the property will be leased to M+W Singapore for 11.6 years, with the option to renew for two consecutive five-year terms. (source : Shares Investment)

2. REITS : Fortune REIT (F25U) - Announced plan to acquire Laguna Plaza, as well as existing borrowings of the company that owns the property. The acquisition is worth HK$1.9 billion, which completion is expected by 9 January 2015. Valued at HK$2.1 billion with estimated net property yield of 4.3 percent, the target property has a gross rental area of 163,203 sqf, a 150-slot parking facility and 77 tenants as of 31 October. The committed occupancy rate of the target property as at 8 December is approximately 96.7 percent. (source : Shares Investment)

3. PNE Micron Holdings (5BS) - Proposed to acquire a 50 percent stake in SMC Industrial for $11.3 million. SMC is engaged in the trading of commodities including copper, stainless steel and other special alloy. The move is in line with PNE’s strategy to diversify into the trading business related to coal, commodities and other products within the energy, minerals and resource sector. (source : Shares Investment)

4. Technics Oil & Gas (5CQ) - Its subsidiary, Technics Offshore Engineering, has entered into a memorandum of understanding to sell Vina Offshore Engineering for $11 million to Y.H.H Marine Engineering. Incorporated in Vietnam, Vina produces, processes, maintains and repairs ports, materials and equipment for the oil and gas industry. (source : Shares Investment)

5. Global Logistic Properties (MC0) - Is making its entry into the US in a big way. It's teaming up with sovereign wealth fund GIC to buy Blackstone Group's portfolio of industrial properties for US$8.1 billion ($10.1 billion). (source : The Edge Singapore)


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