Thursday, April 16, 2015

Market News In 2 Minutes @ 16th April 2015 (Ezra, Sembcorp Industries, SIA Engineering, SMRT, Tee International)

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. Ezra Holdings (5DN) - Announced that it has clinched US$55 million worth of new contracts through its subsea division. Work has begun for several projects, with the others slated for offshore execution from the third quarter of this year. Ezra continues to show resilience with contract wins across the globe amidst the volatile oil price environment and current headwinds faced by the oil and gas industry. Its order book stands at approximately US$2.3 billion, with most of the contracts expected to be executed over the next 24 months. (source : Shares Investment)

2. Sembcorp Industries (U96) - Announced the expansion of its renewable energy business in China through the development of a 150-megawatt wind farm in Huanghua, Hebei Province. Through its 49 percent owned joint venture with Guohua Energy Investment, Sembcorp’s share of the equity investment will be about 200 million yuan and will be funded through a mix of internal and external borrowings. The 1.3 billion yuan ($300 million) farm in Laoshibeihe has received approval and will commence construction this year, expecting completion by the second half of 2017. (source : Shares Investment)TY2015). (source : Shares Investment)

4. SMRT (S53) - Announced that it was entering an agreement with OMGTel to work exclusively in connection with OMG’s bid for the fourth telco license in Singapore. The collaboration agreement will be for the provision of such services and will seek to leverage on synergies that can be derived from SMRT’s extensive media presence and commuter reach. (source : Shares Investment)

5. Tee International (M1Z) - Its real estate subsidiary has recently acquired another hotel in Sydney, Australia and a property in Christchurch, New Zealand. The management is cautious on the muted property market in Singapore and Malaysia, confident of the long term prospects of the real estate in Thailand, New Zealand and Australia. Tee International is expecting the competitive operating environment to remain challenging and will take a prudent stance in evaluating growth prospects in Singapore and the region. (source : Shares Investment)

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