Shares in Singapore closed sharply lower on Thursday. Blue chips all moved down, with the Strait Times Index dropping 80.53 points, or 2.51%, to end at 3,133.26. Here are some stocks to watch this Friday:
Singapore property developer CapitaLand said it had issued unsecured convertible bonds, raising gross proceeds of $650 million. It also completed a repurchase of a total of $721.5 million in principal amount of its outstanding 2016 and 2018 convertible bonds.
Mencast Holdings, which provides services to the offshore, marine and oil and gas industries, said its energy division had won two long-term contracts from an "oil supermajor". The value of the contracts was not disclosed.
SingHaiyi Group said it is setting up a joint venture with Haiyi Properties Pte Ltd to tender for a land parcel at Coronation Road, Singapore, for residential development.
Friday, June 21, 2013
Jun 21: CapitaLand, Mencast, SingHaiyi
Tuesday, March 20, 2012
March 20: Global Logistic, STX OSV, Mencast
Singapore shares may open higher on Tuesday after Wall Street rose overnight as US housing data and sentiment for March remained at its highest level since June 2007.
Singapore’s benchmark Straits Times Index fell 0.68% on Monday to 2,990.09 points. Here are some stocks and factors to watch, according to Reuters:
Global Logistic Properties may be in focus as it announced a 50:50 joint venture with Japanese real estate company, Mitsui Fudosan Co., to develop a multi-tenant logistics facility with a gross floor area of 121,000 square meters in Ichikawa City, Chiba prefecture (Greater Tokyo), Japan.
Shipbuilder STX OSV said it secured two separate contracts worth an approximate total of 1.15 billion Norwegian Crown ($252.7 million) for the construction of an advanced subsea support vessel and an offshore subsea construction vessel. Delivery of the former vessel is scheduled for the first quarter of 2014 and the second quarter of 2013 for the latter.
Singapore sterngear equipment manufacturer and supplier Mencast will issue a total of 22.5 million new shares to four subscribers at $0.53 -- a discount of about 5.4% to the weighted average trading price of shares traded on March 14. The issue represents 11.8% of the total existing share capital of the company. Mencast shares resume trading on Tuesday after having halted its trading on Thursday.
Tuesday, June 21, 2011
Mencast acquires Unidive Group for $15m
Mencast Holdings says it has acquired for $14.85 million Unidive Group, the provider of a full range of topside (rope access) and subsea (diving) services for the offshore and inshore marine industry, particularly in inspections, repairs and maintenance.
Mencast says the acquisition provides Mencast with a new earnings stream from the lucrative inspections, repairs and maintenance business, which is a subset of the Group’s marine maintenance, repair and overhaul business.
Unidive’s unaudited profit before income tax was about $3.17 million for the financial year ended 31 December 2010. The unaudited net asset value of the Unidive as at 31 December 2010 was $6.78 million.
About $12.4 million of the acquisition price will be satisfied in cash and the balance S$2.425 million will be satisfied by the allotment and issuance Mencast shares.