Monday, April 27, 2015

Market News In 2 Minutes @ 27th April 2015 (A REIT, Otto Marine, EMS Energy)

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. REITS : Ascott Residence Trust (A68U) - Is looking for accretive acquisitions in key gateway cities in Asia-Pacific and Europe, seeking to raise its portfolio size from the current $4.1 billion to $6 billion by 2017. A-REIT has been acquiring assets valued at $300 million to $500 million in the past few years, historically acquiring approximately 70 percent from sponsor The Ascott while the remaining are third-party assets. To enhance financial flexibility, A-REIT is looking into diversified funding sources including equity and issuance of perpetual securities. (source : Shares Investment)

2. Otto Marine (G4F) - Its creditor has filed an application with the Singapore High Court to wind up the marine company over a debt of about $1.6 million in total. The application will be heard on 15 May 2015. The company is currently in negotiations with the creditor’s solicitors to reach a settlement in respect of the debt. A separate winding-up application filed by a creditor against subsidiary Go Offshore Asia is being withdrawn after the latter paid the debt of US$118,000 to the creditor. (source : Shares Investment)

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3. EMS Energy (5DE) - Is acquiring its major customer (Koastal Group) in a $150 million cash-and-scrip deal in a bid to diversify its earnings stream. (source : The Edge Singapore)


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