SINGAPORE (Jan 29): Here are some stocks that could move the market this Monday morning:
CapitaLand serviced residence business unit, The Ascott, has won contracts to manage four properties with 1,200 units across Malaysia, the Philippines and China. Under the contracts, Ascott has entered new investment destinations Malacca and Davao in Malaysia and the Philippines, respectively. It will also be increasing its presence in Guangzhou, China, while opening its fifth property under the lyf brand in Cebu, the Philippines. Shares in CapitaLand closed flat at $3.84 on Friday.
Ascott wins contracts to manage 4 properties in Southeast Asia; sets 160,000-unit target for 2023
Micro-Mechanics Holdings delivered record 1H18 earnings ended Dec of $9.1 million, up 34.6% from the same period a year ago. The manufacturer of high precision tools and parts for the semiconductor industry achieved its highest-ever first half revenue of $33.3 million in 1H18, up 21.1% from 1H17. Gross profit margin in 1H18 also improved to 58.7% from 56.4% in 1H17. Shares in Micro-Mechanics closed at $2.42 on Friday.
Micro-Mechanics posts record 1H earnings of $9.1 mil
City Developments has failed in its takeover bid of Millennium and Copthorne Hotels (M&C Hotels). As at 1pm on Jan 26, the CDL parties received a total of 53.3 million shares, representing 47.14% of the shares not already owned by them. This is less than the 50% required for the bid to be successful. CDL had earlier extended its final offer deadline from Jan 23 to Jan 26, after securing 44.21%. As at the close of Jan 25, CDL and its parties hold 211.7 million shares out of 324.8 million issued shares in M&C Hotel, representing a 65.2% stake. Shares in London-listed M&C Hotels closed 27 pence lower at 546 pence on Friday.
City Developments' takeover bid for M&C Hotels fails
Chen Tong, executive chairman of ISR Capital, now owns a total of some 269.6 million shares in the company. With this purchase, he lifted his stake from 0.92% to 10.51%. According to ISR’s filings on Friday night, Chen bought a total of more than 246 million shares for some $1.26 million, which works out to an average of 0.512 cent per share. Shares in ISR closed at 0.6 cents on Friday.
ISR chairman Chen Tong raises stake to more than 10%
Roxy-Pacific Holdings has sucessfully acquired a prime District 10 property for redevelopment through an en bloc sale. Subsidiary RP Ventures along with a JV partner TE2 Development have entered into a conditional agreement to acquire The Wilshire for $98.8 million. Shares in Roxy-Pacific closed at 58 cents on Friday.
Roxy-Pacific acquires The Wilshire for $98.8 mil in collective sale
Markets
Wall Street stocks were in full-throttle rally mode Friday, with all three major indices surging to records following strong earnings reports from Intel and other companies. The Dow Jones Industrial Average rose 0.9 per cent to finish the week at 26,616.71, its third straight record. The broad-based S&P 500 gained 1.2 per cent to 2,872.87, and the tech-rich Nasdaq Composite Index jumped 1.3 per cent to 7,505.77.
On Friday, the STI ended 3,567.14, down 5.48 points, or 0.15 per cent. More than 1.6 billion shares, worth S$1.2 billion, were traded. There were 224 gainers to 217 losers.
