Tuesday, December 1, 2015

Midas, Ho Bee Land, IPS Securex, Sunvic, iX Biopharma

Here are some stocks to watch this Tuesday morning.

Chinese railway firm Midas Holdings has entered into an agreement to purchase Hong Kong-based Huicheng Capital for $264 million. Huicheng Capital owns Dalian Huicheng, a company based in Dalian, China, which specialises in aluminium products. The stock last traded at 30.5 cents on Nov 27.

Ho Bee Land has entered into a sale and purchase agreement with Lunar House to acquire a freehold property known as Apollo House and Lunar House at Wellesley Road, Croydon, London for £99 million ($210 million). Ho Bee says the acquisition will offer the group recurrent income till 2023. Ho Bee last traded at $2.00.

IPS Securex Holdings, the provider of security products and integrated security solutions, is appointed a subcontractor for the deployment and maintenance of Bio-Nexus’ Care-Nexus software system at the Visy Group’s Chicago site as well as at 15 additional sites of the Visy Group. IPS Securex closed at 31 cents on Monday.

Singapore Exchange has reprimanded Sunvic Chemical Holdings for breaches of listing rules relating to RMB1.6 billion ($353 million) of interested person transactions (IPTs) over the past three financial years. SunVic closed flat at 22 cents.

Specialty pharmaceutical company iX Biopharma has been granted a patent in Indonesia for its WaferiX drug delivery technology. The patent will expire on Oct 26, 2030. Indonesia is the sixth country to grant iX Biopharma a patent for WaferiX. iX Biopharma closed at 38 cents.

Markets

US stocks slipped on Monday, led by declines in health and consumer shares, as investors braced for policy news from central banks. The Dow Jones industrial average fell 78.57 points, or 0.44%, to 17,719.92, the S&P 500 lost 9.65 points, or 0.46%, to 2,080.46 and the Nasdaq Composite dropped 18.86 points, or 0.37%, to 5,108.67.

The Straits Times Index ended the day 0.11% lower at 2,855.94. Decliners outnumbered gainers 225 to 166. A total of 1.43 billion shares worth about $1.67 billion changed hands.

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