SINGAPORE (Apr 2): Here are some stocks that could move the market this Monday morning:
TSky Development, a 60:40 joint venture between Tiong Seng and Ocean Sky International, is acquiring Cairnhill Heights in a collective sale for $72.6 million. Cairnhill Heights is a 19-unit residential development located at Cairnhill Rise in prime district 9. The site may be redeveloped into a residential development with about 42 units based on an average size of 95 sqm. Shares on Ocean Sky and Tiong Seng last traded at 9.5 cents and 39 cents on Thursday.
Tiong Seng-Ocean Sky JV acquires Cairnhill Heights for $72.6 mil in en bloc sale
Blumont Group, one of the three counters at the centre of the penny stock crash saga in 2013, has entered into a term sheet for the proposed acquisition of Samadhi Retreats for up to $43.8 million. Samadhi Retreats owns and operates hotels, resorts, and villas around Southeast Asia. Shares of Blumont closed 0.1 cent down at 0.4 cent on Thursday.
Blumont eyes resort operator Samadhi Retreats in $43.8 mil deal
ASTI Holdings is disposing several of its subsidiaries, collectively known as STI Group, to Shanghai Pudong Science and Technology Investment (PDSTI) for $90 million. In addition, $38 million in dividends will be declared to ASTI in accordance with the terms and conditions in the sale and purchase agreement. ASTI shares last traded at 7.3 cents on Mar 29.
ASTI disposes specific subsidiaries for $90 mil, plus $38 mil in dividends
Midas Holdings has lodged a police report with the Commercial Affairs Department of the Singapore Police Force. This is in relation to a possible breach of securities laws and other offences arising from the irregularities in the group’s operations in China. Trading in Midas shares remains suspended.
Midas audit committee lodges report with CAD over China ops; SGX RegCo looking into matter
UMS Holdings is acquiring a 70% stake in non-ferrous metal alloys specialist, Starke Singapore. The cash consideration for the acquisition will be determined based on the net tangible assets value per share of Starke for the financial period ended March which is still being prepared. Shares in UMS closed 1 cents higher at $1.17 on Thursday.
UMS Holdings acquires 70% stake in Starke Singapore
Top Glove is diversifying into medical-linked products related to its current customer base. Subsidiary Top Feel has acquired an 85% stake in Duramedical – which manufactures rubber dental dams and exercise bands -- for a cash consideration of RM2.85 million ($0.97 million). Shares in Top Glove closed 2 cents higher at $3.29 on Thursday.
Top Glove acquires 85% stake in Duramedical
Markets
Wall Street stocks finished on a positive note on Thursday, rallying ahead of a holiday weekend, but were down for the quarter for the first time in nearly three years. The Nasdaq Composite Index gained 1.6% to close the week at 7,063.45. The Dow advanced 1.1% to end at 24,103.11, while the S&P 500 jumped 1.4% to 2,640.87.
The Straits Times Index closed 1.34% or 45.19 points higher at 3,427.97. The broader market saw 1.48 billion units of shares with a value of $1.79 billion traded. Gainers outnumbered losers 254 to 167.
