Tuesday, September 3, 2013

Sept 3: China Minzhong, Vard, United Envirotech

Shares in Singapore rose in line with most Asian markets to end firmer on Monday. The Straits Times Index gained 26.78 points, or 0.88%, to 3,055.72. Here are some factors and company news that could affect the market this Tuesday morning:

Indonesia's Indofood, one of the world's biggest instant noodle makers, has launched a takeover offer for China Minzhong that values the food producer at $734 million, just days after an attack by a short-seller eroded almost half of the Chinese firm's market value.

Singapore-listed Vard Holdings said it has secured a contract for the design and construction of one platform supply vessel for Carlotta Offshore. The value of the contract was not disclosed.

Singapore-listed water treatment firm United Envirotech said it has issued $50 million fixed rate notes due in 2016 carrying 7.25%.

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