Forget Password?
  1. Indices
  2. Commodities
  3. Currencies
Straits Times 3,308.76 -2.77 -0.08%
Hang Seng 28,128.89 -384.11 -1.35%
Dow Jones 26,727.54 +8.41 +0.03%
Shanghai Composite 2,962.85 -45.30 -1.51%
Daily Bulletin – 10/03/09
Daily Bulletin | 10 March 2009
Related stocks:

Chartered Semicon Makes Rights Offering To Raise US$300m; Improves 1Q09 Profit Guidance
Chartered Semiconductor Manufacturing has made a 27-for-10 rights offering of new ordinary shares and its American Depository shares (ADS) at $0.07 per rights share and US$0.45 per rights ADS respectively to raise net proceeds of approximately US$300m. The company maintained that it has enough cash and credit facilities to meet its debt obligations for at least the next 12 months and that the rights issue will serve to strengthen the company’s capital position and improve its debt to equity ratio from 1.46 to 1.21. Meanwhile, the company has improved its 1Q09 net loss forecast from $147m to $127m due to lower cost per wafer during the first quarter.

Adventus Buoyed By Bonds Issue Of Up To $60m
Adventus Holdings has inked a bond subscription agreement with Asia Convertible Bond Opportunities, under which, the company proposes to issue up to $60m (in 60 equal successive tranches) in aggregate principal amount of redeemable zero coupon convertible bonds to the latter. The first tranche of $1m has been slated to use for business expansion through acquisition and working capital.

Goldtron Splashes Rmb18m On PRC Hospital Management Business
Goldtron has inked a JV agreement with a PRC company (上海康全医疗科技有限公司) to establish a JV enterprise in the PRC to provide, inter alia, hospital investment and management services. The company has deemed this as a viable investment opportunity and will invest cash Rmb18m for a 70% shareholding interest in the JV while its PRC counterpart will invest Rmb2m and transfer two of its trademarks to the JV company.

Mermaid Rakes In Additional US$10-20m Through Extension Of Contract; Expands Subsea Services Into M East
Mermaid Maritime Public Mermaid’s 95%-owned subsidiary, MTR-1, has had its drilling contract with Hess being extended by the latter to cover additional drilling services of 100 to 180 days for US$10-20m. Meanwhile, the company has secured a US$10m contract with National Petroleum Construction Company in Abu Dhabi to provide its first subsea construction support services in the Middle East. Both contracts are expected to contribute positively to company’s earnings.

ASJ Pulls Back Proposed Rights Issue
ASJ Holdings has indefinitely postpone its proposed rights issue as the company’s share price has been adversely impacted by the current economic downturn and that the company has managed to reduce its outstanding balance payable to approximately $4.8m. Furthermore, the global economic crisis has affected the current prospects of the company.

TEE International Wins $55.4m In Contract Values
TEE International has won three construction-based contracts totaling $55.4m, with the longest project lasting till May 2011. To date, the company has achieved an outstanding order book of approximately $278m for the Singapore and Malaysia subsidiaries, which will be recognised substantially for FY09 and FY10.

Asia Tiger Terminates Acquisition Deal
Asia Tiger Group has terminated its proposed agreement to acquire up to 100% shareholding interest in Virgo Pulse from two of latter’s shareholders for $16m as an agreement with the related parties could not be struck through.

Adventus Hldgs  -- -- --   
Business: Co is engaged in property investment and development.

Insight: Aug-18, 1H18, Co present activities include both t... Read More
Mermaid Maritime Public Co  0.074 -0.002 -2.63%   
Business: Co is a provider of subsea & drilling services for the offshore O&G industry.

Insight: May-19, 1Q19 total revenue rose 25.5% primarily du... Read More
LionGold Corp  0.001 -- --   
Business: Co has interests in gold mining and exploration companies in Australia and Ghana.

Insight: May-19, FY19 revenue rose 18.6% due to increased t... Read More

Join The Conversation
The Shares Investment editorial team welcomes constructive feedback on our coverage and content. We would also be delighted to answer any questions on the above article. Leave us a comment below, and we'll get back to you shortly!

All Rights Reserved. Pioneers & Leaders (Publishers) Pte Ltd. Best viewed with Mozilla Firefox 3.5 and above.