Stocks In Focus SG (Fragrance Group, Silverlake Axis, SGX) – 27/11/14

Fragrance Group proposed the acquisition of the properties located at 39-47 Milligan Street and 453-471 Murray Street in Perth, Australia for A$30 million. Situated in the central business district of Perth, these properties are freehold assets and have a total land area of 3,560 square metres. The company intends to re-develop these properties into a mixed-use development.

Silverlake Axis has secured two software upgrading contracts worth RM40 million from existing customers. The first contract involves the upgrading of a core banking system for an ASEAN bank’s operations in Singapore, while the second contract is for a system upgrade of a social security organisation and government agency in Brunei. In addition, after the completion of the second contract that is expected to complete in 12 months, the company will provide system support and maintenance services to the client.

Singapore Exchange announced the launch of a bond trading platform that is scheduled for launch by 1H15. The trading platform will begin with the trading of Asian corporate bonds in G3 currencies followed by the local currencies of Asian countries.

Singapore Medical Group signed a non-binding memorandum of understanding (MOU) for a proposed 51:49 joint venture with Leaders Cosmetics division of Sansung Life & Science Co, a company incorporated in South Korea. Leaders Cosmetics is principally engaged in the aesthetic medicine and cosmeceutical products businesses. Under the MOU, a joint venture company will be set up for the purpose of engaging in the aesthetics and dermatology businesses and distribution of dermatological and cosmeceutical products in the Southeast Asia region.

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