Showing posts from June, 2016

MAS aware of ISR stake sale to Rigoll, says Value Capital Asset Management

Value Capital Asset Management, the fund manager that placed a commanding stake in ISR Capital in the hands of David Rigoll, says that the Monetary Authority of Singapore (MAS) was aware of its transactions and the source of its funds.

Ezra's two deals on Emas Chiyoda Subsea fail to excite investors

Shares in Ezra Holdings staged a modest comeback on June 8 hours before the Singapore-listed company requested a trading halt pending the announcement of a stake deal involving its 50-50 joint-venture company Emas Chiyoda Subsea (ECS). The stock, however, saw its gains pared when trading resumed on June 13 after the deal for ECS to take in Japanese shipping giant Nippon Yusen Kabushiki Kaisha (NYK) as a strategic partner was announced.

Extension of MTP deadline needed, given state of market

In just over two months, the extension given by the Singapore Exchange (SGX) to companies that have yet to comply with the minimum trading price (MTP) requirement of 20 cents will come to an end.

KLW shares up 14.3% after announcement of CEO stake sale

Door maker KLW Holdings gained 0.1 cent, or 14.3 per cent, to S$0.008, after announcing that CEO and controlling shareholder Quek Chek Lan will sell his entire stake in KLW to Sunny Wealth Ltd.

Secura unit to buy IT wholesaler Red Sentry for S$2.7m

Catalist-listed security solutions provider Secura Group has announced a proposed buyout of IT wholesaler Red Sentry Pte Ltd for S$2.7 million in cash.

Trendlines associate company in talks to be sold for US$16m

Catalist-listed Trendlines Group said on Friday that its 26.46 per cent-owned associated company ETView Medical could soon be acquired for US$16 million - in what would be the medical tech (medtech) incubator's first exit of a portfolio company since it listed on the Singapore Exchange in November 2015.

ISR Capital re-designates David Rigoll to executive director

Mainboard-listed fund manager ISR Capital announced on Friday that David Rigoll has been re-designated from non-executive director to executive director of the company.

CIMB lays off 12 from Singapore broking business

The lacklustre markets have claimed more victims, as CIMB laid off a dozen staff from its broking business in Singapore a week ago.

S&P cuts Singapore's Noble Group rating again

Standard and Poor's cut Noble Group's credit rating deeper into junk status on Wednesday and described its outlook as negative, citing elevated refinancing risks over the next 12 months.

Platinum Partners to shut main hedge fund following arrest of associate

U.S. hedge fund Platinum Partners is returning the majority of its assets to clients following the arrest of a long-time associate on allegations he orchestrated a US$60,000 cash bribe to secure an investment from a New York city union.

ISR to buy 19.9% stake in Madagascar concession for S$13.3m

Mainboard-listed investment firm ISR Capital on Friday said it has signed a deal with REO Magnetic, a private Singapore firm, to buy its 19.9 per cent shareholding in Tantalum Holding.

Best World plunges from dizzying heights

Like a roller coaster, Best World International plunged on Thursday by a whopping 22.9 per cent or 31.5 cents, after hitting an all-time peak of S$1.39 on Tuesday.

ISR Capital and Best World among stocks offering hope in a dull market

The stock market operates in mysterious ways, very often ignoring fundamentally sound stocks to the point that frustrated owners and major shareholders are driven to consider a takeover, privatisation or delisting, yet at the same time rewarding other stocks for reasons that the market might struggle to pinpoint.

Otto Marine's chairman seeks firm's delisting

Otto Marine's executive chairman and controlling shareholder Yaw Chee Siew has proposed a voluntary delisting for the offshore and marine player amid a protracted industry downturn.

Otto Marine jumps on S$68m delisting offer

Shares of Otto Marine jumped on Thursday, after executive chairman and controlling shareholder Yaw Chee Siew proposed a voluntary delisting that valued the offshore and marine player at about S$68 million.

Noble's cash call a one-year reprieve

Noble’s cash call should buy it a year of breathing space. The embattled commodity trader is tapping its long-suffering shareholders for US$500 million, days after its chief executive resigned. Chairman Richard Elman has also announced plans to step down in the next 12 months. The main question for investors, however, is whether Noble's core business can consistently generate cash.

Cash call, founder's exit plan maul Noble's shares

Shares of commodity trader Noble Group tanked on Friday after it unveiled a US$500 million one-for-one rights issue, priced at an over 60 per cent discount to its Thursday's closing stock price.

SGX grants 13 firms three-month MTP extension

A lucky 13 companies on the Singapore Exchange (SGX) mainboard have been given a three-month reprieve from being assessed for compliance with SGX's minimum trading price (MTP) rule, with no company being sent to the watch-list due to MTP in the June round of review.

Noble's new CEOs face outstanding challenges

Yusuf Alireza has gone but Noble Group Ltd's challenges remain. The commodity trader that announced Mr Alireza's resignation as chief executive officer on Monday as yet more assets were put up for sale, still faces the hurdle of raising about US$1 billion to shore up its balance sheet.

Technics O&G seeks JM as it faces a series of claims

With its back against the wall after a series of claims from its Singapore- listed landlord and a past executive director, distressed offshore support services firm Technics Oil & Gas has sought court intervention as a last-ditch rescue attempt.

Volatile penny stocks demonstrate need for minimum trading price

The penny stock volatility over the past few weeks was a timely reminder of why the need exists for a minimum trading price on the Singapore Exchange (SGX).