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Singapore stock market and companies daily report (PMI, GLP, Yangzijiang) (April 03, 2014)

April 3, 2014, Thursday, 03:26 GMT | 22:26 EST | 07:56 IST | 10:26 SGT
Contributed by Shares Investment


- Singapore’s March Purchasing Managers’ Index (PMI), a key indicator of manufacturing activity, came in at 50.8, lower than February’s reading of 50.9 and below economists’ estimates of 51.1. In line with other Asian economies such as China and India, new orders and production levels dipped. A silver lining was seen in the electronic sector’s PMI reading of 51.6. The sector has expanded for 14 consecutive months.

- Global Logistic Properties has inked two agreements with China National Pharmaceutical Group Corporation to lease 13,000 square meters of space in Shanghai and Suzhou. Partnership between the two firms now extends to four cities in China.

- Sim Lian Group’s joint venture, Sim Lian JV (Vision), proposed the sale of units in a development project, Vision Exchange, to several management and board members. A total of seven units make up the sale consideration worth $15.8 million.

- Yangzijiang Shipbuilding (Holdings) has secured 18 orders of bulk carriers and containerships worth US$815 million. The orders are scheduled for delivery from 2015 to 2017. Year to date, Yangzijiang has secured a total of 26 shipbuilding contracts worth US$1.1 billion.