Home THE DAILY EDGE Business Sept 1: M1, Ezra, FJ Benjamin, Yanlord, Yongnam, Yangzijiang
Sept 1: M1, Ezra, FJ Benjamin, Yanlord, Yongnam, Yangzijiang

Tags: Ezra Holdings | FJ Benjamin | FJ Benjamin Holdings | M1 Limited | Tee International | Yangzijiang | Yangzijiang Shipbldg Hldgs | Yangzijiang Shipbuilding | Yanlord | Yanlord Land Group | Yongnam Holdings

Written by The Edge   
Wednesday, 01 September 2010 08:47
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Singapore shares may see a weak start on Wednesday after persistent economic fears left US stocks little changed in choppy trade overnight. Singapore’s benchmark Straits Times Index <.FTSTI> fell 0.23% on Tuesday to 2,950.33 points. Here are some stocks and factors to watch:

M1 (MONE.SI) said it will launch its high-speed fibre broadband service with speeds of up to 1 gigabit per second and fixed voice service on Wednesday. It will also offer a free three-month trial of the fibre broadband service at 100Mbps to residential customers whose homes are ready for service.

Ezra Holdings (EZRA SP): The provider of logistics services to the oil and gas industry said it plans to raise $155 million selling shares to existing shareholders at $1.18 a share. Ezra, which was suspended from trading yesterday, rose 1.1% to $1.77 when it last traded on Aug 30.

FJ Benjamin Holdings (FJB SP): The Singapore-based retailer of Guess Inc. and Gap Inc. said it bought a 60% stake in Arcangel, a fashion design company owned by London-based designer Catherine Deane, for US$500,000 ($677,600). Its shares were unchanged at 35.5 cents.

Yanlord Land Group (YLLG SP): The China-based homebuilder said it sold 84 percent, or 361 of the 428 apartment units it started selling on Aug. 28 in Nanjing, China. The company generated 708.8 million yuan ($141 million) from the sale, it said. Yanlord slipped 1.7% to $1.76.

Yongnam Holdings (YNH SP): The Singapore-based construction company said it won a $25 million contract to build a station for a new commuter train line. Yongnam dropped 4.3% to 22.5 cents.

Yangzijiang (YAZG.SI) said it expects to raise about $153 million via issuing Taiwan depository receipts at NT$18.80 each, or about $1.585 a share.

Hotels: The government received 13 bids for a hotel site in the Clarke Quay area, reflecting the booming tourism and hospitality sector. CB Richard Ellis said the top bid of $813 per square foot based on the plot ratio was much higher than the price paid for two nearby sites sold in 2006.

Tee International (TEEI.SI) said it had secured two engineering contracts from Citibank in Singapore and the island’s National University Hospital for a total of $54.2 million.

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Last Updated on Wednesday, 01 September 2010 08:49