Tuesday, September 1, 2015

SembMarine, P99 Holdings, IPS Securex, Olam, Chasen

The following stocks are in focus and may see price action today:

Sembcorp Marine's subsidiary, SMOE Pte Ltd, has secured an engineering, procurement and construction (EPC) contract worth over US$1 billion ($1.41 billion) from Maersk Oil North Sea UK Limited.

P99 Holdings, a cafe business turned cash company, will soon take on the role of a road and port owner and operator in Indonesia. In a reverse takeover deal valued at US$163.1 million ($230.4 million), Barito, the owner and operator of the road and port, will inject its assets into P99 in exchange for 970.5 million new consolidated P99 shares at 23.56 cents each.

IPS Securex Holdings, the provider of security products, is proposing a share split of every one existing share held by shareholders of the company into three shares.

Olam International has announced the issuance of JPY6.2 billion ($72.2 million) of five-year senior notes due 2020 in a private placement under its US$5 billlion Euro Medium Term Note Programme established in July 2012.

Chasen Holdings, a specialist in relocation solutions, technical and engineering services and third-party logistics, has secured contracts worth $44.5 million since the start of FY15 in March.

Markets
Wall Street ended lower on Monday and wrapped up its worst month since 2012 after comments from a senior Federal Reserve official heightened fears among investors of a potential U.S. interest hike in September. The Dow Jones industrial average lost 0.69% to end at 16,528.03 points and the S&P 500 fell 0.84% to 1,972.18. The Nasdaq Composite dropped 1.07% to 4,776.51.

The Straits Times Index ended the day 1.17% lower at 2,921.44, after trading between 2,921.44 and 2,987.18. Excluding warrants, decliners outnumbered gainers 270 to 178.

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