Thursday, February 12, 2015

Market News In 2 Minutes @ 12nd 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 : Lippo Malls Indonesia Retail Trust (D5IU) - Posted a 5.7 percent gain in net property income to $32.9 million for the fourth quarter ended 31 December 2014, on the back of higher gross rental income that was helped by positive rental reversions. Subsequently, total unitholders’ distribution gained 27.4 percent to $17.6 million. For the full year, net property income sank 12.1 percent to $126 million mainly due to translation losses that has caused revenue to take a hit, while total unitholders’ distribution fell 6.9 percent to $68 million. The trust has declared a distribution per unit of $0.0071. (Source : Shares Investment)

2. Sembcorp Industries (U96) - Proposed the acquisition of a 60 percent stake in Green Infra, a renewable energy company in India with a portfolio consisting of wind and solar energy generating sources, for INR10.6 billion (approximately $227 million). This acquisition marks Sembcorp’s entry into India’s renewable energy market, and is aligned with the company’s strategy towards growing its renewable energy business. The transaction is expected to conclude by the end of the month. (Source : Shares Investment)

3. SMJ International Holdings (40B) - Has been awarded three contracts worth $1.3 million for the supply and installation of carpets for the Agency for Science, Technology and Research (A*Star), the Defence Science and Technology Agency, and Mediacorp. Apart from the contract for A*Star which has commenced earlier this year, the other two contracts are expected to commence during the mid of 2015. (Source : Shares Investment)


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