Monday, March 30, 2015

Market News In 2 Minutes @ 30th 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. Chip Eng Seng (C29) - Sold a vacant development site in Melbourne for A$64.8 million ($69.3 million) plus goods-and-services tax (GST) as at 27 March 2015. The 2,927 square meter site near the edge of the Melbourne central business district was bought in 2013 for A$32 million plus GST and it included a planning permit obtained in 2014 and marketing material for a 72-storey, 1,305 apartment mixed-use high-rise development. (source : Shares Investment)

2. Loyz Energy (594) - Reported two memorandum of understanding (MOUs) with India’s Sun Petrochemicals as a strategic move to manage its concession portfolio. The first MOU allows Loyz to jointly bid for potential upstream exploration and production (E&P) projects and enjoy a carried participating interest, showing more potential to add producing assets to its portfolio. The second MOU allows its 51.8 percent-owned Interlink Petroleum (IPL) to assign Indian assets to Sun Oil & Natural Gas (SONG), receiving 7.5 percent of the monthly net profits and 50 percent of the recovery cost once certain criteria are satisfied. (source : Shares Investment)

3. Sino Construction (F3V) - Entered into share subscription agreements with four subscribers, who have agreed to subscribe a total of 262 million new ordinary shares at $0.0248 per share. The new shares will produce an estimated net proceeds of approximately $6.5 million, representing a rough 6.4 percent of the existing issued share capital of the company. The proceeds will be used to enhance the company’s current financial position, allowing the company to further fund the construction of modular power plants in South Korea. (source : Shares Investment)


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