Friday, April 10, 2015

Market News In 2 Minutes @ 10th April 2015 (Hyflux, Noble Group, Singtel)

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. Hyflux (600) - Announced that its wholly-owned subsidiary, Hyflux SIP has entered into Equity Transfer Agreements with Hyflux Filtech to acquire the entire issued and paid-up share capital of Hyflux Filtech and Hyflux Unitech. The purchase consideration is $21.8 million, funded through internal resources. Deposits have been placed with the liquidator of Hyflux Filtech, which is considered disbursed by Hyflux SIP towards its partial payment of the consideration. The remaining will be paid in cash within 5 business days upon completion of the shares transfer. (source : Shares Investment)

2. Noble Group (N21) - Has refuted reports from Muddy Waters Research, rejecting their allegations as inaccurate, unreliable and misleading. Muddy Waters released a report on Noble, criticising its finances and management. Noble rejects the assertions that the group exists to borrow and burn cash and the claim that it could not sustain debt levels. With its debt-to-capitalisation standing at a historic low of 38 percent coupled with US$5.2 billion of liquidity headroom as at end of FY2014, Noble believes that the claims by Muddy Waters that Noble misled investors or manipulated the accounting in the acquisition and disposal of PT Alhasanie are unfounded.  (source : Shares Investment)

3. Singtel (Z74) - Announced the acquisition of Trustwave of some US$810 million for a 98 percent equity stake. With the possibility of Trustwave turning EPS accretive from 2018 onwards, analysts are cautious about their estimations ahead of Singtel’s FY2015 results releasing in early May. Boosted by higher share prices of its listed associates, its SOTP-based fair value increased $0.15 to $4.31. However, analysts maintain a “HOLD”, noting its limited near-term upside. (source : Shares Investment)

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