Asian stocks were poised for a muted start to a new quarter, with investors assessing better-than-estimated U.S. economic data amid concern over the coronavirus spread and Sino-American tensions.

Futures edged up in Japan and dipped in Australia, with Hong Kong closed for a holiday. S&P 500 contracts slipped after the gauge rounded out a 20% second-quarter surge. U.S. consumer confidence posted its biggest increase since 2011. After the close of regular trading, FedEx Corp. soared as the economic bellwether used an efficiency drive and a surge in health-equipment deliveries to shore up earnings. Treasuries and the dollar fell. Gold traded near $1,800 an ounce.

FRASERS Centrepoint Trust (FCT) is acquiring an additional 12.07 per cent stake in PGIM Real Estate Asia Retail Fund (ARF) for S$197.2 million, in line with plans to bolster its presence in Singapore's suburban retail sector. FCT now holds a 24.82 per cent interest in ARF, through its wholly-owned subsidiary FCT Holdings (Sigma). The acquisition, expected to be completed in July, will raise FCT's interest in the fund to 36.89 per cent.

A SUBSIDIARY of offshore services provider Mermaid Maritime has set up a new business unit focused on offshore platform installation and decommissioning, to target demand from major oil operators in Thailand. The offshore transportation, installation and decommissioning services business unit, parked under the subsidiary, Mermaid Subsea Services (Thailand), will comprise Thai personnel with at least a decade's work experience in oil-and-gas operations and offshore facilities construction in the Gulf of Thailand.

THE founder of Mainboard-listed Luzhou Bio-Chem Technology Limited wants to take the company private in a deal that values it at S$17.8 million, so as to gain greater management flexibility and control over the company. Niu Ji Xing, who is also Luzhou's executive chairman and chief executive, on Tuesday launched a voluntary conditional general offer via investment holding company Starnova, of which he is the sole director. Starnova is offering to acquire all the ordinary shares in Luzhou at S$0.03 apiece. The offer price is final and Starnova does not intend to revise it.

VIVIDTHREE Holdings is no longer proceeding with a proposed ordinary share placement that was to have given it S$1.9 million in net proceeds, as the working capital available is sufficient to meet its present and projected requirements, the Catalist-listed group said. The proposed placement - of up to 15.9 million new ordinary shares at a price of at least 12.6 Singapore cents apiece - was meant to strengthen Vividthree’s financial and working capital position.

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR