Wednesday, March 11, 2015

Market News In 2 Minutes @ 11th March 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. Nam Cheong (N4E) - Has won contracts for two vessels – a 200-men accommodation work vessel and a 12,000 brake horsepower anchor handling towing supply vessel – worth US$58 million. The new contracts raises the firm’s order book to approximately RM1.7 billion and are expected to contribute positively to its FY15 and FY16 results. (source : Shares Investment)

2. WE Holdings (5RJ) - Has entered into a non-binding memorandum of understanding to acquire the entire stake in Singapore Hua Kai Engineering Co, a firm primarily engaged in the trading of sand, dredging and the supply of processed sand, for $25 million. The group believes the proposed acquisition will provide it with a ready entry into the land reclamation business, which it anticipates will have an increased demand. The consideration will be paid in $8 million cash and $2 million worth of the firm’s shares, with the remaining $15 million paid over a three-year period subjected Hua Kai attaining certain net profit targets. (source : Shares Investment)


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