Here are some stocks that could move the market this Thursday morning:
SMRT has received an offer of privatisation from state-owned investment holding company Temasek Holdings. Belford Investments, a wholly-owned subsidiary of Temasek, is offering $1.68 in cash for each share, 9.1% higher than SMRT’s last traded price of $1.54 on July 15. With an outstanding issued share capital of about 1.53 billion shares, the offer price values SMRT at about $2.6 billion. As Temasek already owns some 54% of SMRT, the takeover would cost it nearly $1.2 billion. There will be no special dividend arising from the sale.
Offshore and specialised vessels manufacturer Vard Holdings posted a NOK53 million ($8.5 million) loss in earnings in 2Q16 ended June compared to a gain of NOK58 million in the same period last year. The loss was due to the recognition of NOK38 million in restructuring costs incurred in relation to statutory payments pertaining to temporary lay-offs and termination benefits, mainly at Vard Niterói. Vard Holdings closed 0.6% higher at 16.3 cents on Wednesday.
ST Engineering has secured a total of about $650 million worth of contracts in 2Q16 via its electronics arm, ST Electronics. Lee Fook Sun, president of ST Electronics, says the company’s recent 2Q contract wins add up to a total of $1.16 billion of new orders in the first half of 2016 for the company. Shares of ST Engineering closed 1.19% higher at $3.4.
Ascott Residence Trust (ART) posted a 2% rise in distribution per unit (DPU) of 2.13 cents for the 2Q16 ended June compared to 2.09 cents in the same period of last year. Revenue for 2Q16 increased 21% to $119.4 million mainly due to the additional revenue of S$27.8 million from ART’s acquisitions in 2015 and in 2016, which included the Sheraton Tribeca New York Hotel. Ascott Residence Trust closed 0.9% higher at $1.145.
Keppel Telecommunications and Transportation's (Keppel T&T) saw 2Q ended June earnings rise 18.5% to $18.81 million from a year ago. This came on the back of a 2.1% rise in revenue to $50.18 million. Separately, Keppel Data Centres, a subsidiary of Keppel T&T has secured more than $144 million in contracts at two of its data centres, Keppel DC Singapore 3 and Keppel DC Singapore 4. Keppel T&T closed 1.1% higher at $1.42.
Cache Logistics Trust posted a 7.1% decline in distribution per unit (DPU) of 1.989 cents for the 2Q16 ended June compared to 2.14 cents in the same period of last year. This was due to an enlarged units base and a one-off capital distribution of 0.185 cents per unit from the divestment proceeds of Kim Heng Warehouse in 2Q15. Units of Cache Logistics Trust closed 0.6% lower at 87.5 cents.
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SMRT has received an offer of privatisation from state-owned investment holding company Temasek Holdings. Belford Investments, a wholly-owned subsidiary of Temasek, is offering $1.68 in cash for each share, 9.1% higher than SMRT’s last traded price of $1.54 on July 15. With an outstanding issued share capital of about 1.53 billion shares, the offer price values SMRT at about $2.6 billion. As Temasek already owns some 54% of SMRT, the takeover would cost it nearly $1.2 billion. There will be no special dividend arising from the sale.
Offshore and specialised vessels manufacturer Vard Holdings posted a NOK53 million ($8.5 million) loss in earnings in 2Q16 ended June compared to a gain of NOK58 million in the same period last year. The loss was due to the recognition of NOK38 million in restructuring costs incurred in relation to statutory payments pertaining to temporary lay-offs and termination benefits, mainly at Vard Niterói. Vard Holdings closed 0.6% higher at 16.3 cents on Wednesday.
ST Engineering has secured a total of about $650 million worth of contracts in 2Q16 via its electronics arm, ST Electronics. Lee Fook Sun, president of ST Electronics, says the company’s recent 2Q contract wins add up to a total of $1.16 billion of new orders in the first half of 2016 for the company. Shares of ST Engineering closed 1.19% higher at $3.4.
Ascott Residence Trust (ART) posted a 2% rise in distribution per unit (DPU) of 2.13 cents for the 2Q16 ended June compared to 2.09 cents in the same period of last year. Revenue for 2Q16 increased 21% to $119.4 million mainly due to the additional revenue of S$27.8 million from ART’s acquisitions in 2015 and in 2016, which included the Sheraton Tribeca New York Hotel. Ascott Residence Trust closed 0.9% higher at $1.145.
Keppel Telecommunications and Transportation's (Keppel T&T) saw 2Q ended June earnings rise 18.5% to $18.81 million from a year ago. This came on the back of a 2.1% rise in revenue to $50.18 million. Separately, Keppel Data Centres, a subsidiary of Keppel T&T has secured more than $144 million in contracts at two of its data centres, Keppel DC Singapore 3 and Keppel DC Singapore 4. Keppel T&T closed 1.1% higher at $1.42.
Cache Logistics Trust posted a 7.1% decline in distribution per unit (DPU) of 1.989 cents for the 2Q16 ended June compared to 2.14 cents in the same period of last year. This was due to an enlarged units base and a one-off capital distribution of 0.185 cents per unit from the divestment proceeds of Kim Heng Warehouse in 2Q15. Units of Cache Logistics Trust closed 0.6% lower at 87.5 cents.
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