Sept 4: China Minzhong, SGX, Interra

Shares in Singapore ended flat on Tuesday ahead US economic data due later this week. The Straits Times Index fell 0.94 of a point, or 0.03%, to 3,054.78. Here are some factors and company news that could affect the market this Wednesday morning:

Singapore-listed China Minzhong said the supplemental report from Glaucus Research was “lacking substance and self-serving”, adding that no fresh allegations were raised. Separately, Indonesian food company PT Indofood Sukses Makmur, which had launched an offer for Minzhong, said the vegetable producer complements its business and “various opportunities exist for strategic integration and synergies”. These include industrialised farming in Indonesia using both their expertise and resources, as well as the potential sale and distribution of Minzhong produce by tapping Indofood’s extensive network in Indonesia.

Singapore Exchange said its total securities turnover for August fell 8% from a year earlier to $27.3 billion. But total futures and options volume increased 32% year-on-year to 8.6 million contracts.

Oil and gas firm Interra Resources said it has agreed to acquire PT Benakat Barat Petroleum, which holds all the rights to explore and develop the Benakat Barat field in South Sumatra, Indonesia.

Cord blood services provider Cordlife said it has agreed to acquire a 19.92% interest in Malaysia’s StemLife Berhad for 29.58 million ringgit ($11.5 million).