Tuesday, February 10, 2015

Market News In 2 Minutes @ 10th February 2015

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 : Cache Logistics Trust (K2LU) - Proposed the acquisition of three warehouse properties located in Australia for their valuations of AUD70 million (approximately $73.4 million). The trust intends to finance the acquisition through bank borrowings. The properties will be fully leased for a weighted average lease to expiry of 9.7 years with fixed annual escalations of 3 to 3.5 percent. (Source : Shares Investment)

2. Jardine Cycle & Carriage (C07) - Via its subsidiary, Platinum Victory, acquired 8 million shares in Refrigeration Electrical Engineering Corporation (REE), a diversified business group, for US$12.3 million. Post acquisition, JCC’s shareholding in REE will be lifted to 21.6 percent where REE will be an associated company to JCC. The acquisition will be funded by internal resources. (Source : Shares Investment)

3. Singapore Post (S08) - Has acquired an additional 1.8 million shares in the capital of GD Express Carrier (GDEX), an associated company of SingPost that is listed on the main market of Bursa Malaysia, for RM2.4 million (approximately $0.9 million). In addition, the company has also received 72.2 million shares in GDEX from a bonus issue. Post acquisition and bonus issue, SingPost will own 24.2 percent of the enlarged share capital in GDEX. (Source : Shares Investment)

4. Starburst Holdings (40D) - Has been awarded contracts totalling $2.5 million for a project located in the Middle East. Under the contracts, the company’s subsidiary, Starburst Engineering will undertake ballistic protection works for a firearm training facility in the Middle East. The contract is scheduled to commence in February 2015 and complete in September 2015. (Source : Shares Investment)


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