Here are some stocks to watch this Wednesday morning.
City Developments has entered into a deal with Alpha Investment Partners, Keppel Land's property fund management arm, to create a joint office investment platform via its second Profit Participation Securities (PPS) transaction. This platform will acquire three of CDL's prime office assets with a total value of about $1.1 billion. The three assets are: Central Mall (Office Tower) for $218 million; 7 & 9 Tampines Grande for $366 million; and Manulife Centre for $487.5 million. CDL closed 2.99% higher at $7.24 while Keppel Corp. closed 1.13% higher at $6.29.
Noble Group is in advanced talks to sell its remaining stake in its agriculture unit as well as in other strategic transactions, as it seeks to boost its liquidity position. The statement by the commodity trading group on Tuesday night followed media reports that it is planning to sell its 49% stake in Noble Agri to Chinese grain trader Cofco for US$700-750 million ($985-$1,055 million). Cofco last year paid about US$1.5 billion for 51% of the business.
Yoma Strategic Holdings announced that its wholly-owned subsidiary, Yoma Nominee Limited has established a new 50-50 joint venture company, MM Cars Myanmar Limited (MMCM) with Mitsubishi Corporation. MMCM will serve as the official distributor of cars from Mitsubishi Motors Corporation and will be responsible for the wholesale distribution, retail sales, after-sales services, and maintenance services of motor vehicles and spare parts manufactured by Mitsubishi Motors. Yoma Strategic closed 2.3% higher at 44 cents on Tuesday.
Xpress Holdings posted net loss of $190,000 for 1QFY16, compared with net profit of $126,000 in the year-earlier period. This was on the back of a 24% decline in revenue to $1.88 million, dragged down by lower revenue contribution from the group’s local and overseas operations. Shares in Xpress closed 7.14% higher at 1.5 cents.
Leader Environmental Technologies unit Jilin Anjie Environmental Engineering has successfully renewed its loan facilities from China Merchants Bank for a loan amount of up to RMB80 million ($17.4 million) for another one-year tenure commencing from Nov 9 under the same terms and conditions. The purpose of the loan is to fund the working capital requirements of Anjie. Shares in Leader Environment closed 24.32% higher at 4.6 cents on Tuesday.
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City Developments has entered into a deal with Alpha Investment Partners, Keppel Land's property fund management arm, to create a joint office investment platform via its second Profit Participation Securities (PPS) transaction. This platform will acquire three of CDL's prime office assets with a total value of about $1.1 billion. The three assets are: Central Mall (Office Tower) for $218 million; 7 & 9 Tampines Grande for $366 million; and Manulife Centre for $487.5 million. CDL closed 2.99% higher at $7.24 while Keppel Corp. closed 1.13% higher at $6.29.
Noble Group is in advanced talks to sell its remaining stake in its agriculture unit as well as in other strategic transactions, as it seeks to boost its liquidity position. The statement by the commodity trading group on Tuesday night followed media reports that it is planning to sell its 49% stake in Noble Agri to Chinese grain trader Cofco for US$700-750 million ($985-$1,055 million). Cofco last year paid about US$1.5 billion for 51% of the business.
Yoma Strategic Holdings announced that its wholly-owned subsidiary, Yoma Nominee Limited has established a new 50-50 joint venture company, MM Cars Myanmar Limited (MMCM) with Mitsubishi Corporation. MMCM will serve as the official distributor of cars from Mitsubishi Motors Corporation and will be responsible for the wholesale distribution, retail sales, after-sales services, and maintenance services of motor vehicles and spare parts manufactured by Mitsubishi Motors. Yoma Strategic closed 2.3% higher at 44 cents on Tuesday.
Xpress Holdings posted net loss of $190,000 for 1QFY16, compared with net profit of $126,000 in the year-earlier period. This was on the back of a 24% decline in revenue to $1.88 million, dragged down by lower revenue contribution from the group’s local and overseas operations. Shares in Xpress closed 7.14% higher at 1.5 cents.
Leader Environmental Technologies unit Jilin Anjie Environmental Engineering has successfully renewed its loan facilities from China Merchants Bank for a loan amount of up to RMB80 million ($17.4 million) for another one-year tenure commencing from Nov 9 under the same terms and conditions. The purpose of the loan is to fund the working capital requirements of Anjie. Shares in Leader Environment closed 24.32% higher at 4.6 cents on Tuesday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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