Monday, March 28, 2016

Halcyon Agri, GMG Global, Creative, Global Yellow Pages, Parkway Life REIT

Here are some stocks to watch this Monday morning.

China’s Sinochem International Corp says a unit has offered to buy a 30.1% stake in Halcyon Agri Corp at 75 cents per share for at least $240 million, according to Reuters. Halcyon Agri and GMG Global, a subsidiary of Sinochem, both requested for trading to be halted on Thursday afternoon pending the release of an announcement. Halcyon and GMG Global were trading at 73 cents and 62 cents respectively when the halt was called.

Keppel FELS, a subsidiary of Keppel Corp’s offshore & marine unit, has delivered two jackup rigs to Mexican company, Grupo R. Built to Keppel's proprietary KFELS B Class design, the rigs, Cantarell I and Cantarell II, will be chartered to PEMEX, Mexico's national oil company, for operations in the Cantarell oil field in offshore Mexico. They are the first two of five jackup rigs that Keppel FELS is building for Grupo R. With the deliveries, Keppel FELS has delivered three rigs in 2016 to date. Keppel closed at $5.87 on Thursday.

Creative Technology has filed a complaint with the United States International Trade Commission, to seek injunctions against seven smartphone makers. They are Samsung, LG, Sony, HTC, ZTE, Blackberry as well as Lenovo, which now owns the Motorola smartphone brand. The company has also filed parallel patent infringement lawsuits against these seven companies in the Eastern District of Texas. Creative did not indicate which of its patents the seven have allegedly infringed. Creative shares closed at $1.02.

Information directory firm Global Yellow Pages has filed a writ of summons against travel firm Leisure Empire on the monies allegedly owed to it related to a counter-guarantee. Global Yellow Pages wants to claim damages totalling $414,219.08 together with all interests and costs. The two companies had been in a joint venture to operate river tour and taxi services along the Singapore River. Global Yellow Pages last traded at 13.5 cents.

Parkway Life REIT has acquired a nursing home facility in Japan for 1.1 billion yen ($13.4 million). The facility, Silver Heights Hitsujigaoka Ichiban-kan & Niban-kan, has been acquired from Sapporo-based nursing home operator Kabushiki Kaisha Silver Heights Sapporo. The acquisition is expected to generate a net property yield of 6.7%. It will be funded via long-term Japanese yen-denominated debts. The REIT closed at $2.35.

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