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Reports Singapore

Singapore stock market and companies daily report (Singapore NODX, Noble Grp, ST Engineering) (August 18, 2014)

August 18, 2014, Monday, 05:25 GMT | 01:25 EST | 09:55 IST | 12:25 SGT
Contributed by Shares Investment

Singapore’s non-oil domestic exports in July extended its decline to 3.3 percent from 4.6 percent in June, stemmed from a decline in both electronic and non-electronic exports. Electronic exports fell 7.9 percent in July compared to 17.4 percent in June, as a result of shrinking sales of integrated circuits, computer components and disk media products. Non-electronic exports dipped 1.1 percent in July as opposed to an expansion of 1.3 percent in June, mainly due to lesser demand for structures of ships and boats, aircraft parts and civil engineering equipment parts.

Fraser & Neave (F&N) proposed the acquisition of up to 15 million shares in the issued share capital of Vietnam Dairy Products Joint Stock Company (Vinamilk), a company incorporated in Vietnam and listed on the Ho Chi Minh Stock Exchange. Post-acquisition, F&N will own 11 percent of the issued capital in Vinamilk. The purchase consideration for the acquisition was not disclosed at the point of the announcement.

Noble Group has agreed to acquire 22.8 percent of equity interest in Sitio 0 de Quequén for a purchase consideration of US$17 million. The amount excludes an amount of US$3 million that is subjected to Sitio 0’s financial performance over an agreed period. As Sitio 0 is part of a consortium that was awarded with a concession to build and operate a deep sea port and related facilities in Argentina, the acquisition is expected to offer Noble with future business development opportunities and synergise with its grains business plan that is in the pipeline.

Singapore Technologies Engineering has increased its investment in LeeBoy Brazil Equipamentos De Construção by an aggregate amount of approximately $321.2 million. The purpose of the investment is for general working capital for LeeBoy’s operations in Brazil.