Thursday, March 26, 2015

Market News In 2 Minutes @ 26th 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. Keppel Corporation (BN4) - Has crossed the 90 percent threshold required to delist its real estate subsidiary, Keppel Land. As at 5 p.m. on Singapore Exchange, Keppel Corp has agreed to acquire 90.9 percent of the total number of issued Keppel Land shares. Keppel Land’s shares will be suspended on 26 March 2015, but Keppel Corp still needs to acquire at least 95.5 percent of Keppel Land to complete the acquisition through the compulsory buying of remaining shares in which it does not own.  (source : Shares Investment)

2. Swiber Holdings (AK3) - Has clinched a series of contracts totaling US$405.6 million, strengthening its order book to US$1.8 billion. The new contracts include its latest US$333 million deal for engineering, procurement, installation and construction (EPIC) services in India, a US$710 million offshore field development project in West Africa last December and a few other smaller contracts in the Asia-Pacific region. With ten years of experience in the India market and seven years with the same client, Swiber intends to mitigate market pressures by maximising the usage of its vessels and equipment. The new contract in India is expected to contribute to the group’s earnings in 2Q15. (source : Shares Investment)


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