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Reports Singapore

Singapore stock market and companies daily report (SGX, Sheng Shiong Grp, Logistics Hldgs) (September 04, 2014)

September 4, 2014, Thursday, 04:36 GMT | 00:36 EST | 08:06 IST | 10:36 SGT
Contributed by Shares Investment

Global Yellow Pages’ revenue dropped 8.5 percent to $4 million for the first quarter ended 30 June 2014, mainly due to a decline in its search solutions business which was partly alleviated by increased contribution from Singapore river tour & taxi services business.  Helped by a $0.2 million in income tax credit, losses shrank 4.6 percent to $0.6 million.

Logistics Holdings proposed the acquisition of a piece of land located in Johor, Malaysia, at its valuation price of RM38.8 million (approximately $15.3 million). The freehold land is measures 1.2 million square feet and is located in Senai Industrial Park which is a part of Flagship E of Iskandar Malaysia. The group intends to build light and medium industrial factories to meet the expected demand of industrial space fueled by budding new townships.

Sheng Shiong Group proposed a rights issue for up to 120 million shares at $0.67 per share, where the rights represent 8 percent of the enlarged share capital. The expected gross proceeds of $80.4 million to be raised from the rights issue, will be mainly used to finance future expansion plans of the group in Singapore.

Singapore Exchange reported a growth in daily average value in securities and volume growth in derivatives in August. Securities average daily value was up 5 percent month-on-month but 27 percent lower year-on-year. Total derivatives volume in August climbed 5 percent month-on-month and 9 percent year-on-year to 9.4 million contracts. For commodities, total Asiaclear volume was 10 percent higher month-on-month at 0.2 million contracts and more than triple the volume from last year.