Here are some stocks that could move the market this Thursday morning.
Olam International is acquiring a 100% interest in Brooks Peanut Company at an enterprise value of US$85 million ($114.5 million). Brooks is the sixth largest peanut sheller in the US, processing 110,000 Farmer Stock Tons (FST) with an annual capacity at 175,000 FST. Founded in 1959, the company is based in Samson, Alabama in the productive Southeast peanut growing region of the US. Olam shares closed 1.1% higher at $1.90.
Otto Marine has received a privatisation offer from its executive chairman Yaw Chee Siew. Yaw, who is also the 61.2% controlling shareholder of Otto Marine, is offering 32 cents cash for each Otto Marine share he does not own through Ocean International Capital, a special purpose vehicle set up for the exit offer. The exit offer price is 39.13% higher than the last transacted price of 23 cents on June 1.
Ascendas Real Estate Investment Trust (A-REIT) is proposing to divest A-REIT Jiashan Logistics Centre, a logistics facilities located near Shanghai, China. Goodman Developments Asia and GCLP Developments No. 3 have agreed to acquire the entire equity stake of A-REIT J.W. Investment for $25.6 million. A-REIT ended lower at $2.34 on Wednesday.
China Everbright Water has entered into a joint venture agreement with Jiangsu Xinyi municipal government to set up Xinyi PPP (Public-Private Partnership) project company. The PPP project company will be responsible for the operation of Xinyi wastewater treatment PPP projects. The total investment of Xinyi PPP projects is 300 million yuan ($61.7 million). China Everbright Water last traded at 66.5 cents.
Luxury property developer Tuan Sing announced a 90:10 joint venture with private Singapore developer, Habitat Properties, to develop a site in Marina City Batam, Indonesia, into an integrated mixed development township. The stake will cost Tuan Sing $39.15 million. The project is expected to launch around end 2017 or early 2018. Tuan Sing closed at 30 cents.
The manager of Starhill Global REIT has announced the new base rents for its Toshin master lease, which is 5.5% higher than the existing rate, and is effective for three years starting June 8. The Toshin master lease accounted for about a fifth of Starhill Global REIT’s portfolio gross rent in March 2016. It covers all the retail strata area of Ngee Ann City owned by the REIT, except level five. Toshin is also the REIT’s largest tenant. Starhill Global REIT closed at 78 cents.
Datapulse Technology, the producer of digital storage media for content distribution, sunk to a loss of $1.2 million in 3Q compared to a profit of $0.2 million a year ago when it recorded an income tax credit of $0.4 million. Revenue for 3Q fell 33.2% to $3.7 million from $5.5 million as a result of weaker demand for media storage products and services in the quarter. The counter last traded at 24 cents.
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Olam International is acquiring a 100% interest in Brooks Peanut Company at an enterprise value of US$85 million ($114.5 million). Brooks is the sixth largest peanut sheller in the US, processing 110,000 Farmer Stock Tons (FST) with an annual capacity at 175,000 FST. Founded in 1959, the company is based in Samson, Alabama in the productive Southeast peanut growing region of the US. Olam shares closed 1.1% higher at $1.90.
Otto Marine has received a privatisation offer from its executive chairman Yaw Chee Siew. Yaw, who is also the 61.2% controlling shareholder of Otto Marine, is offering 32 cents cash for each Otto Marine share he does not own through Ocean International Capital, a special purpose vehicle set up for the exit offer. The exit offer price is 39.13% higher than the last transacted price of 23 cents on June 1.
Ascendas Real Estate Investment Trust (A-REIT) is proposing to divest A-REIT Jiashan Logistics Centre, a logistics facilities located near Shanghai, China. Goodman Developments Asia and GCLP Developments No. 3 have agreed to acquire the entire equity stake of A-REIT J.W. Investment for $25.6 million. A-REIT ended lower at $2.34 on Wednesday.
China Everbright Water has entered into a joint venture agreement with Jiangsu Xinyi municipal government to set up Xinyi PPP (Public-Private Partnership) project company. The PPP project company will be responsible for the operation of Xinyi wastewater treatment PPP projects. The total investment of Xinyi PPP projects is 300 million yuan ($61.7 million). China Everbright Water last traded at 66.5 cents.
Luxury property developer Tuan Sing announced a 90:10 joint venture with private Singapore developer, Habitat Properties, to develop a site in Marina City Batam, Indonesia, into an integrated mixed development township. The stake will cost Tuan Sing $39.15 million. The project is expected to launch around end 2017 or early 2018. Tuan Sing closed at 30 cents.
The manager of Starhill Global REIT has announced the new base rents for its Toshin master lease, which is 5.5% higher than the existing rate, and is effective for three years starting June 8. The Toshin master lease accounted for about a fifth of Starhill Global REIT’s portfolio gross rent in March 2016. It covers all the retail strata area of Ngee Ann City owned by the REIT, except level five. Toshin is also the REIT’s largest tenant. Starhill Global REIT closed at 78 cents.
Datapulse Technology, the producer of digital storage media for content distribution, sunk to a loss of $1.2 million in 3Q compared to a profit of $0.2 million a year ago when it recorded an income tax credit of $0.4 million. Revenue for 3Q fell 33.2% to $3.7 million from $5.5 million as a result of weaker demand for media storage products and services in the quarter. The counter last traded at 24 cents.
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