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Reports Singapore

Singapore stock market and companies daily report (Asia-Pacific Strategic Invs, Sunmoon, Zhongmin Baihui) (September 05, 2014)

September 5, 2014, Friday, 05:37 GMT | 01:37 EST | 10:07 IST | 12:37 SGT
Contributed by Shares Investment

Asia-Pacific Strategic Investments posted an 18.1 percent growth in turnover to RM0.2 million for the year ended 30 June 2014, underpinned by the recognition of a higher amount of service income. Coupled with a RM3.7 million of losses incurred from discontinued operations, that were mainly attributable to a higher cost of sales and allowance for impairment of trade and other receivables, the group’s losses widened to RM8.6 million.

Sunmoon Food Company entered into a non-binding memorandum of understanding to acquire a 51 percent stake in Ban Fresh for $5.6 million. The target company is in the business of global procurement of fresh fruits and vegetables as well as engaging in sales of the same products in Singapore and other countries in Asia.

Zhongmin Baihui Retail Group opened the twelveth store in Quanzhou Development District. The new Quanzhou Qiaonan store located in Quanzhou city, China, is part of a mixed commercial and residential development, which occupies a central location connected to the central urban area of Quanzhou City, Jinjiang District, as well as the Jiangnan area.