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Stocks In Focus SG (CapitaLand, Midas, STATS ChipPac) – 05/06/14
CapitaLand – CapitaLand now holds more than 90 percent of the issued shares of CapitaMalls Asia (CMA). The shares of CMA will be suspended from trading after the close of CapitaLand’s offer for CMA on June 9. An application for the delisting of CMA has been submitted to the Singapore Exchange by CapitaLand.
Jubilee Industries (Jubilee) – Jubilee, along with Jewelstone Properties, will no longer be preceding with the proposed acquisition of Tenderside Ventures. Jubilee mentioned in a statement to the Singapore Exchange that both parties were unable to reach a consensus on some of the principal commercial terms of the proposed acquisition.
STATS ChipPac – The company said that there has been “no major development” since its announcement on May 15 that certain other parties have expressed interest to acquire all the shares in the company. This is in response to the Singapore Exchange’s query on unusual trading activity seen in its shares, where it soared 25.52 percent to close at $0.615 on 4/6/14.
Midas Holdings’ joint venture company Nanjing SR Puzhen Rail Transport Co (NPRT) has secured three metro train contracts worth RMB3.5 billion. The three contracts are expected to contribute to the group’s financial performance positively for the next three years. Midas has a 32.5 percent equity stake in NPRT.
Asiasons Capital’s subsidiary, Asiasons Investment has acquired a 30 percent stake in Hub Media Group for a consideration of US$4.5 million. With the acquisition, Asiasons investments, owns 100 percent of Hub Media Groups share capital, and upon completion Hub Media will be a wholly owned subsidiary of Asiasons Investments.
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