Here are some stocks to watch this Tuesday morning.
Singapore Airlines is extending by more than a week the deadline to buy out all the the shares in Tiger Airways Holdings, the unprofitable budget airline it listed less than six years ago. Shareholders of Tiger Airways will now have until Jan. 8 to decide whether to accept Singapore Air’s offer to pay $0.41 a share, SIA said Monday. The decision comes after the Securities Investors Association Singapore asked the airline’s board to consider extending the Dec 28 deadline and also consider improving the offer price. Shares of Singapore Air rose 0.6% to close at $11.12 in the city state. Tiger Airways was unchanged at $0.405.
The Singapore Exchange (SGX) has decided to wait for the results of Singapore Post's upcoming special corporate governance audit before assessing the postal and e-commerce group's compliance with listing rules, it said on Monday. The bourse said this in an e-mail response to a Business Times query on what action it was taking given mainboard-listed SingPost's admission last Tuesday that it had not properly disclosed a conflict of interest for one of its directors, Keith Tay Ah Kee, in an acquisition it made in 2014. SingPost closed 0.93% or 1.5 cents higher at $1.625.
Oxley Holdings has accepted an unsolicited offer for Chiba Port Square in Chiba Prefecture, Japan for US$60 million ($84.2 million). A memorandum of understanding (MOU) was entered into by the group on Dec 25 with Greenland Hong Kong Investment Group and Japanese tax-free store chain operator LAOX Co. Oxley closed 1.14% or 0.5 cent higher at 44.5 cents.
China Yuanbang Property Holdings subsidiary Guangdong Yuanbang Real Estate Development has agreed to dispose of its 25% stake in Wanyuan Yuanbang Resort Development Co to Wanyuan City Qinba Electronic Commerce Co. The agreement will take effect upon the payment of RMB27 million. The total consideration for the proposed disposal is RMB37.5 million ($8.14 million). China Yuanbang says the proposed disposal will enable the company to bring in the purchaser as a strategic partner on the project. The company will realise an estimated net gain of approximately RMB30.15 million from the proposed disposal. It intends to use the sales proceeds as working capital. Shares in China Yuanbang closed 3.64% higher at 28.5 cents.
Alliance Mineral Assets says it has delivered its first order of Tantalite Concentrate under a distribution agreement it signed with Mitsubishi Corporation Japan on Dec 24. In addition, the company has entered into a Memorandum of Understanding (MOU) inked on Dec 13 with Sinosteel Equipment & Engineering to collaborate in the development of tantalite and other mineral resources in Australia “utilizing AMA’s tantalite mine, beneficiation plant and primary processing plant and Sinosteel’s experts, technology and experience of prospecting, mining,beneficiation and smelting.” AMA closed 8.9% lower at 11.2 cents.
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Singapore Airlines is extending by more than a week the deadline to buy out all the the shares in Tiger Airways Holdings, the unprofitable budget airline it listed less than six years ago. Shareholders of Tiger Airways will now have until Jan. 8 to decide whether to accept Singapore Air’s offer to pay $0.41 a share, SIA said Monday. The decision comes after the Securities Investors Association Singapore asked the airline’s board to consider extending the Dec 28 deadline and also consider improving the offer price. Shares of Singapore Air rose 0.6% to close at $11.12 in the city state. Tiger Airways was unchanged at $0.405.
The Singapore Exchange (SGX) has decided to wait for the results of Singapore Post's upcoming special corporate governance audit before assessing the postal and e-commerce group's compliance with listing rules, it said on Monday. The bourse said this in an e-mail response to a Business Times query on what action it was taking given mainboard-listed SingPost's admission last Tuesday that it had not properly disclosed a conflict of interest for one of its directors, Keith Tay Ah Kee, in an acquisition it made in 2014. SingPost closed 0.93% or 1.5 cents higher at $1.625.
Oxley Holdings has accepted an unsolicited offer for Chiba Port Square in Chiba Prefecture, Japan for US$60 million ($84.2 million). A memorandum of understanding (MOU) was entered into by the group on Dec 25 with Greenland Hong Kong Investment Group and Japanese tax-free store chain operator LAOX Co. Oxley closed 1.14% or 0.5 cent higher at 44.5 cents.
China Yuanbang Property Holdings subsidiary Guangdong Yuanbang Real Estate Development has agreed to dispose of its 25% stake in Wanyuan Yuanbang Resort Development Co to Wanyuan City Qinba Electronic Commerce Co. The agreement will take effect upon the payment of RMB27 million. The total consideration for the proposed disposal is RMB37.5 million ($8.14 million). China Yuanbang says the proposed disposal will enable the company to bring in the purchaser as a strategic partner on the project. The company will realise an estimated net gain of approximately RMB30.15 million from the proposed disposal. It intends to use the sales proceeds as working capital. Shares in China Yuanbang closed 3.64% higher at 28.5 cents.
Alliance Mineral Assets says it has delivered its first order of Tantalite Concentrate under a distribution agreement it signed with Mitsubishi Corporation Japan on Dec 24. In addition, the company has entered into a Memorandum of Understanding (MOU) inked on Dec 13 with Sinosteel Equipment & Engineering to collaborate in the development of tantalite and other mineral resources in Australia “utilizing AMA’s tantalite mine, beneficiation plant and primary processing plant and Sinosteel’s experts, technology and experience of prospecting, mining,beneficiation and smelting.” AMA closed 8.9% lower at 11.2 cents.
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