New York: 12:23 || London: 17:23 || Mumbai: 20:53 || Singapore: 23:23

Reports Singapore

Singapore stock market and companies daily report (SingTel, Fragrance Grp, Asiasons Capital) (June 11, 2014)

June 11, 2014, Wednesday, 06:45 GMT | 01:45 EST | 10:15 IST | 12:45 SGT
Contributed by Shares Investment


- Singapore Telecommunications agreed to acquire Adconion Media, Adconion and Kontera Technologies for an aggregate purchase consideration of US$359 million. Adconion is a digital advertising group which offers digital advertising solutions for Fortune 500 brands across a range of marketing channels, while Kontera is a digital content intelligence and marketing technology company that provides real-time digital content analysis across mobile, web and social networks.

- Fragrance Group agreed to acquire a property located at 555 Collins Street, Melbourne, Australia, for a purchase consideration of A$78 million. The freehold property comes with a total land area of 2,300 square metres and an existing high-rise commercial building, which the company intends to re-develop into a high-rise mixed development.

- Asiasons Capital agreed to acquire 10.7 percent of the issue and paid-up share capital in EMS Holdings for a purchase consideration of $2.7 million. The target company is principally involved in the business of exhibitions and events managements. The company views the acquisition as an opportunity to leverage on EMS’ platform in order to further develop and enhance its business in the events marketing and management industry.

- China Kunda Technology Holdings agreed to dispose three of its subsidiaries, namely Kunda (Mould) International, Kunda (Mould Shenzhen) and Changchun FAW-Sihuan Lida Pressed Component for a sale consideration of about HK$37 million. The move will allow the company to restructure its business mix in order to achieve stronger financial performance. When completed, consolidated net loss attributable to shareholders of the company for FY14 will decrease from HK$73.1 million to HK$26 million on a proforma basis.