Here are some stocks that could move the market this Tuesday morning.
Great Eastern Holdings, the insurance subsidiary of OCBC Bank, is selling its Vietnam business to FWD Life Insurance Company (Bermuda) for $48.2 million. But the insurance group says it is increasing its focus to grow core markets of Singapore and Malaysia, as well as its business in Indonesia and Brunei. Shares of Great Eastern closed 1.2% lower at $21.50 on Monday.
Swiber Holdings has secured three contracts worth $291.4 million (US$215 million) for engineering, procurement, construction and installation (EPCI) related works. One of the contracts relates to pipeline replacement work in Qatar, which was awarded by a European oil major. Swiber says it has commenced the engineering phrase of this project. Shares of Swiber ended lower at 17.2 cents on Monday.
Engineering and construction firm Yongnam has secured two contracts worth $29.6 million for projects in Singapore and Hong Kong. The first is awarded by Vanguard Properties for sites on 1 & 3 Kallang Junction. The second contract came from China Road and Bridge Corporation for works on an underground excavation and lateral support system in Hong Kong. Yongnam ended 8.6% lower at 26.5 cents on Monday.
Otto Marine on Monday has obtained approval from the Singapore Exchange for an extension of its trading halt by two market days. This is to enable the company to convene a board meeting to consider the proposal from an offeror and to make an announcement thereafter. On Monday, Otto Marine received a privatisation offer from and undisclosed potential offeror. Shares of Otto Marine last traded at 23 cents.
Q&M Dental Group is seeking to buy a 47.14% equity interest in Shenzhen New Perfect Dental Research (SZNP) for RMB66 million ($13.75 million). SZNP is a China-based dental prosthetic devices provider, focusing on custom-making prostheses for individual dental patients. Shares of Q&M ended higher at 76 cents on June 6.
Vallianz Holdings and China’s state-owned rail corporation CRRC have terminated the share subscription deal announced on Jan 25. Under the deal, CRRC was to acquire a 13.9% stake in the offshore support vessel provider for $23.65 million. “The parties failed to reach an agreement with regard to the terms of the commercial cooperation agreement,” says Vallianz. Shares of Vallianz closed at 4 cents on Monday.
Haw Par Corp will close the 25-year-old Underwater World Singapore on June 26 with nearly two years to go before the expiry of its lease on the facility on Sentosa. Haw Par’s leisure unit took an impairment charge of $4.6 million on its fixed assets at Underwater World Singapore in FY2015. The segment posted a profit of $300,000, a drop of 89.6% year-on-year on the back of an 18.4% decline in revenue due to lower visitorship. Haw Par shares closed 0.7% higher at $9 on Monday.
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Great Eastern Holdings, the insurance subsidiary of OCBC Bank, is selling its Vietnam business to FWD Life Insurance Company (Bermuda) for $48.2 million. But the insurance group says it is increasing its focus to grow core markets of Singapore and Malaysia, as well as its business in Indonesia and Brunei. Shares of Great Eastern closed 1.2% lower at $21.50 on Monday.
Swiber Holdings has secured three contracts worth $291.4 million (US$215 million) for engineering, procurement, construction and installation (EPCI) related works. One of the contracts relates to pipeline replacement work in Qatar, which was awarded by a European oil major. Swiber says it has commenced the engineering phrase of this project. Shares of Swiber ended lower at 17.2 cents on Monday.
Engineering and construction firm Yongnam has secured two contracts worth $29.6 million for projects in Singapore and Hong Kong. The first is awarded by Vanguard Properties for sites on 1 & 3 Kallang Junction. The second contract came from China Road and Bridge Corporation for works on an underground excavation and lateral support system in Hong Kong. Yongnam ended 8.6% lower at 26.5 cents on Monday.
Otto Marine on Monday has obtained approval from the Singapore Exchange for an extension of its trading halt by two market days. This is to enable the company to convene a board meeting to consider the proposal from an offeror and to make an announcement thereafter. On Monday, Otto Marine received a privatisation offer from and undisclosed potential offeror. Shares of Otto Marine last traded at 23 cents.
Q&M Dental Group is seeking to buy a 47.14% equity interest in Shenzhen New Perfect Dental Research (SZNP) for RMB66 million ($13.75 million). SZNP is a China-based dental prosthetic devices provider, focusing on custom-making prostheses for individual dental patients. Shares of Q&M ended higher at 76 cents on June 6.
Vallianz Holdings and China’s state-owned rail corporation CRRC have terminated the share subscription deal announced on Jan 25. Under the deal, CRRC was to acquire a 13.9% stake in the offshore support vessel provider for $23.65 million. “The parties failed to reach an agreement with regard to the terms of the commercial cooperation agreement,” says Vallianz. Shares of Vallianz closed at 4 cents on Monday.
Haw Par Corp will close the 25-year-old Underwater World Singapore on June 26 with nearly two years to go before the expiry of its lease on the facility on Sentosa. Haw Par’s leisure unit took an impairment charge of $4.6 million on its fixed assets at Underwater World Singapore in FY2015. The segment posted a profit of $300,000, a drop of 89.6% year-on-year on the back of an 18.4% decline in revenue due to lower visitorship. Haw Par shares closed 0.7% higher at $9 on Monday.
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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