MARKET UPDATES :
- CAPITALAND on Wednesday said its wholly-owned subsidiary Sound Investment Holdings and its concert parties have on Tuesday received valid acceptances amounting 3.5 billion shares,representing approximately 89.9 per cent of the issued share capital of CapitaMalls Asia (CMA).This follows the acquisition of an additional 350.9 million shares in CMA, representing approximately nine per cent of CMA’s issued share capital.
- JUBILEE Industries Holdings on Wednesday said that the company, along with Jewelstone Properties, will no longer be proceeding with the proposed acquisition of Tenderside Ventures In a statement to SGX, Jubilee said that both parties were “unable to reach a consensus on some of the principal commercial terms of the proposed acquisition.”
- Shares in Australand Property Group jumped 7 per cent on Wednesday after the Australian property company said it received a A$2.6 billion (US$2.41 billion) takeover offer from Singapore’s Frasers Centrepoint.
STOCK RECOMMENDATION :
- BUY OLAM INTERNATIONAL ABOVE 2.330 TG 2.370, 2.410, 2.460 SL 2.270