At 10:02 a.m., Cosco Corp shares were down 3.3% at $2.34 on a volume of 1.8 million shares.
Cosco Corporation (Singapore) says it has not received any proposal nor is it currently in any discussions with any party regarding a proposed asset injection.
The announcement was made in response to recent research reports which raised the possibility of a restructuring effort by parent company Cosco Group that would see it inject its 19% interest in Cosco Shipyard Group and its 100% stake in Cosco Shipbuilding Industry Company, which owns two shipbuilding yards in Nantong and Dalian, into the company.
Cosco asked for a trading halt this morning to put forward the SGX statement
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Customers are the most important asset of any company as they are the ones that let them flourish and progress. Thus, no firm can afford to lose any of them due to any misinterpretation or deficiency left by them in any product or services they rendered without knowing about it.
First REIT is a Singapore-based real estate investment trust that is run by a fund management owned by Lippo and Bowsprit Capital Corp., the company said.
If you are a recruitment firm or recruitment department of any company, you can build a Strategic Recruitment Asset by capturing and building on several thousand resumes and job applications that you receive every month.
Mainboard-listed Amara Holdings, the homegrown integrated lifestyle group, says it has embarked on a $32 million asset enhancement plan and repositioning exercise for its Amara Shopping Centre located at 100 Tras Street.
Under the accord, DBS will also take a 7.25% stake in Nikko Asset and the combined firm’s managed assets will total more than $150 billion, the companies said in a joint statement filed to the Singapore stock exchange today.
Under the terms of an agreement announced on Monday, Nikko Asset will acquire DBS’ asset management arm for $137 million. DBS will use the money received to buy a 7.25% stake in the enlarged Nikko Asset.
DBS’ (D05.SG) sale of its asset management arm to Japan’s Nikko Asset Management, announced during midday break, not expected to have material impact on share price near term.
Move deemed strategic, allowing DBS to focus on banking operations in core Singapore, HK markets while letting more established Nikko drive asset management business.
Sumitomo Trust & Banking Co.’s Nikko Asset Management Co. unit agreed to buy DBS Asset Management from DBS Group Holdings for $137 million to tap business from the expanding ranks of wealthy Asians.
Under the accord, DBS Asset will also take a 7.25% stake in Nikko Asset and the combined firm’s managed assets will total more than US$150 billion ($195.5 billion), the companies said in a joint statement filed to the Singapore stock exchange today.
DBS will then acquire a 7.25% stake in Nikko Asset and distribute Nikko funds through its branches throughout the region.
The DBS unit’s joint venture with China’s Changsheng Fund Management Co will not be included in the deal, said the sources, who spoke on condition of anonymity. The deal is likely to be announced next week, they said.
Pakistan President Asif Ali Zardari discussed with the then US envoy to Pakistan, Anne Patterson, his increasing frustration with former premier Nawaz Sharif”s government in Punjab, whom he believed, had tipped off Jamaat ul-Dawa (JUD) about the assets freeze ordered by the federal government, according to whistle-blower website WikiLeaks. During a meeting on January 2, [...]
The art of juggling requires a great deal of expertise, tact, alertness and adaptability. Similarly, manufacturing and industrial enterprises have to skillfully maintain the right balance between inventory, employees, supply chain partners, equipment, and supplies.
Numerous factors, all aligned and intelligently managed, are critical components in successful business operations. This list includes – machinery, facilities, raw materials, logistics, technology, people, purpose, marketing, and many others.
Adds, fee income will get boost once Suntec REIT (T82U.SG), managed by ARA, seals last month’s proposal to acquire one-third stake in phase 1 of Singapore’s Marina Bay Financial Centre for $1.5 billion. Stock +0.6% at $1.57.
ARA Asset Management has reported an 11% increase in net profit for the nine months ended 30 September 2010 (YTD 3Q2010) to $38.1 million.
Total revenue rose 19% to $70.8 million during the period, driven by a 28% jump in recurrent management fees from $48.8 million in YTD 3Q2009 to $62.4 million in YTD 3Q2010. The increase was primarily due to contributions from the group’s real estate management services business division and the ARA Harmony Fund which were established in 4Q2009 and Cache Logistics Trust, which was listed on the SGX on 12 April 2010.
