Towards Financial Freedom
DBS Equity Research: Wired Daily 8 Apr 2016
Innovalues - Appointed advisers to review options to enhance and unlock shareholder value
Innovalues has appointed Rippledot Capital Advisers to conduct a review of the strategic options available to the company with a view to enhancing and unlocking shareholder value.
CEFC Internationalis engaged in discussions with a party to acquire equity interest in a European company that currently owns certain oil and gas distribution network, logistics and storage facilities in Europe in the mid- and downstream areas. No binding agreement in relation to the potential acquisition project has been entered into at this stage.
SIA has increased its stake in Virgin Australia (VA) slightly from 22.91% to 23.11% after it paid A$3.18m (S$3.24m) to settle a series of return equity swaps. This comes as VA's biggest shareholder, Air New Zealand, is looking to pare or divest its existing 25.9% stake in the Brisbane-based carrier to focus on growth opportunities.
The legal tussle between PACC Offshore Services Holdings (POSH) and Saudi Arabia-based Makamin Offshore Saudi Ltd pertaining to offshore support vessel business dealings between the two parties looks set to heat up with the latter countersuing the former. Makamin said in a statement issued to BT that it had filed a lawsuit against POSH in Saudi Arabia on March 16 relating to alleged breaches of obligations under Saudi laws.
Memstar Technologyhas terminated the proposed acquisition of Longmen Group by way of a proposed reverse takeover (RTO) of Memstar Technology. Longmen Group had "failed to fulfil certain deliverables" under the RTO sale and purchase agreement (SPA), Memstar Technology said.
Singapore's government expects global economic uncertainty to weigh on the country's growth until the end of the decade, and it is ready to provide more help when necessary, said Trade Minister Lim Hng Kiang. The government continues to fashion Singapore's external environment through trade agreements, and is making efforts to help companies and specific sectors to overcome challenges.
In a further sign of stability setting in the public housing resale market, SRX Property's flash estimates for March 2016 showed prices continuing their flattish performance, amid a 37.6% month-on-month jump in the number of Housing and Development Board flats resold to 1,651 last month. The marginal 0.1% month-on-month drop in SRX's overall HDB resale price index in March follows a 0.2% gain in February. SRX Property's March flash estimate for the index reflects a modest 0.1% year-on-year increase. From the peak in April 2013, the index has eased 11%.
US stocks fell as the prior day's rebound fizzled out on renewed concerns that central bankers' recent monetary easing policies may fail to revive global growth. The IMF chief Christine Lagarde signaled Thursday the organization is likely to lower its outlook for world growth. Investors are also taking a guarded stance ahead of the 1Q results season with Alcoa kicking off next Monday.
Source: DBS
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