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. PSL Holdings (L6T) - Proposed the acquisition of a 49 percent stake in PT Momentum Indonesia Investama for US$11.5 million. The acquisition will allow the group to venture into a new business segment in marine logistics services. Additionally, the vendors of the company shares have guaranteed an earnings of US$12.2 million for the next 24 months upon the date of completion. The company intends to finance the acquisition via both cash and bank borrowings. (source : Shares Investment)
2. Tat Hong Holdings (T03) - Has disposed a property located at 18 Sungei Kadut Avenue for $7 million. The property is erected on a 3,606 square metres land plot, comprising a four-storey main block and a storage/production area. The disposal is part of the company’s plan to optimise its operations as they are intended to be consolidated into Tuas in Singapore, as well as shifting the less time sensitive operations to Johor, Malaysia. (source : Shares Investment)
3. ValueMax Group (T6I) - Proposed the acquisition of a string of shop units at 261 Waterloo Street from Tye Soon (T08) for a total of $11 million. The properties come with a remaining lease tenure of 83 years and yield a total floor area of 708 square metres. The acquisition will enable the group to consolidate its administrative functions into one location, and also enable it to run its gold trading and moneylending businesses at a more central location. The group intends to fund the acquisition by both internal resources and bank borrowings. (source : Shares Investment)
Cheers!
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