SINGAPORE (Jan 5): Here are some stocks that could move the market this Thursday morning:
CapitaLand has agreed to divest its share of interest in a group of companies that hold an agreed value of RMB8.37 billion ($1.7 billion) through 20 retail assets in China, each with an average gross floor area (GFA) of about 40,000 sqm excluding car parks. The transaction is expected to be completed in 2Q18 and generate for the group net proceeds and a net gain of about $660 million and $75 million respectively. Shares in CapitaLand closed 5 cents higher at $3.66 on Thursday.
See: CapitaLand divests stakes in companies holding 20 retail assets for $75m gain
The Straits Trading Company is investing in a Savills fund focusing on residential properties in Japan. Straits Trading's subsidiary Straits Real Estate (SREPL), through its wholly-owned subsidiary SRE Japan 11, has entered into a subscription agreement to commit JPY9 billion ($106.5 million) in Savills IM Japan Residential Fund. Shares in Straits Trading closed flat at $2.31 on Thursday.
See: Straits Trading invests $106.5 mil in Savills Japan residential property fund
Nordic Group has announced that several of its divisions have recently clinched contracts amounting to $20.6 million in total from both new and repeat customers, comprising multinational companies (MNCs) and companies in the marine, oil and gas (O&G), infrastructure and petrochemical industries. Shares in Nordic closed flat at 56 cents on Thursday.
See: Nordic Group announces $20.6 mil worth of contract wins
Clearbridge Health’s wholly-owned subsidiary, Clearbridge Health (Philippines), has entered into a conditional share purchase agreement to acquire 65% of the common shares in the issued share capital of Marzan Health Care Inc for 69.6 million Philippine pesos ($1.9 million).
See: Clearbridge Health to acquire 65% stake in medical centre in Manila
Sarine Technologies and its wholly-owned subsidiary, Galatea, are taking legal action against an unnamed manufacturer in Surat, India, for the deliberate under-reporting of rough stone weights and underpayment of amounts owed to Galatea while using the group’s proprietary Galaxy system. Shares in Sarine closed 2 cents higher at $1.02 on Thursday.
See: Sarine to sue overseas manufacturer for fraudulent misuse of Galaxy system
Perennial Real Estate Holdings has launched and priced an issue of $120 million in fixed rate notes due 2021. This series of notes will be issued under its $2 billion multicurrency debt issuance programme. The notes bear 3.9% per annum interest, payable semi-annually in arrears. To be issued on Jan 12, 2018, they will mature three years later on Jan 12, 2021. Shares in Perennial closed 1 cent higher at 90 cents on Thursday.
See: Perennial launches $120 mil 3.9% notes due 2021
Sunpower Group’s wholly-owned subsidiary, Jiangsu Sunpower Technology Co. was awarded an EPC contract worth RMB34.98 million ($7.2 million) from Yangquan Coal Industry Group Taiyuan Chemical New Material Co. Shares in Sunpower closed at 50 cents.
See: Sunpower wins $7.2 mil flue gas desulphurisation contract
Markets
The Dow shot above 25,000 points for the first time on Thursday as strong US private-sector hiring data extended a stocks rally already boosted by the recent US tax reform. Near 1645 GMT, the Dow Jones Industrial Average stood at 25,045.86 up 0.5% from Wednesday's close. The broad-based S&P 500 rose 0.4% to 2,722.80, while the tech-rich Nasdaq Composite Index advanced 0.2% to 7,076.54, both adding to Wednesday's records.
The Straits Times Index (STI) finished 1.1% or 36.88 points higher on Thursday. About 2.63 billion shares worth $2 billion in total changed hands, which worked out to an average unit price of S$0.76 per share. Gainers outnumbered losers 272 to 163.
