The following companies may have unusual price changes in Singapore trading today. Stock symbols are in parentheses, and share prices are from the previous close. Singapore’s Straits Times Index gained 0.8% to 3,279.70.
China Taisan Technology Group (CTSAN SP): The maker of knitted fabric used in sports apparel said it will buy $28 million of new machinery to boost production capacity, twice the amount it estimated earlier. The stock fell 2.6% to 19 cents.
GMG Global (GGL SP): The Singapore-based owner of rubber plantations in West Africa said shipments from its facilities in the Ivory Coast have resumed after delays last month caused by the nation’s political crisis. The shares slipped 1.7% to 29.5 cents.
Kim Eng Holdings (KEH SP): The Singaporean brokerage, which received a takeover offer from Malayan Banking Bhd. (MAY MK), said it will resume trading today. Maybank, as Malaysia’s biggest lender by assets, will pay $3.10 for each Kim Eng share in a deal valued at $1.79 billion. Kim Eng, whose trading was halted yesterday, climbed 2.7% to $2.70 on Jan 5.
Mirach Energy (MENR SP): The explorer of oil and natural gas said it signed an agreement with Shanghai Petroleum and Natural Gas Co. to operate and seek new fields. Shanghai Petroleum is partly owned by China Petroleum and Chemical Corp. or Sinopec and CNOOC. Mirach was unchanged at 9 cents.
SHC Capital (SHC SP): The insurance underwriter said it signed an agreement that may lead to the purchase of an Indonesian general insurance company it didn’t identify. The shares climbed 3.9% to 13.5 cents.
Stratech Systems (STRA SP): The provider of software related services said it agreed to buy 80% of Global Telecom Co., a provider of network solutions in South Korea, for US$7.6 million ($9.8 million) in cash and shares. It will pay US$1.2 million cash and US$6.4 million worth of Stratech shares, valued at 3.5 cents each, for the acquisition. The stock surged 17% to 3.5 cents.
Tee International (TEE SP): The Singapore-based engineering and real estate developer said first half net profit increased to $6.9 million from $4.5 million a year ago. Tee jumped 10% to 27.5 cents.