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Posts Tagged ‘freight links’

Freight Links +11.1%; Sabana REIT debut in focus

Freight Links (F01.SG) +11.1% at $0.010, off $0.105 intraday high, highest level in 3 years.

Stock is SGX’s most active today with over 125 million shares changing hands vs 50-day average volume of 12 million; increased interest likely due to upcoming debut of Sabana REIT, which due to list on SGX Friday.

Sabana REIT’s IPO priced at $1.05 per unit; likely to gain on debut, given it’s Singapore’s first Shariah-compliant listing, will be world’s largest listed Shariah-compliant REIT by assets. Freight Links earlier this month completed sale and leaseback of 5 properties with REIT ($99.4 million net proceeds), company to subscribe for 27 million units (4.3% of units after listing), will be participating as REIT Manager, Property Manager, which will generate additional income, broaden group’s network.

Group will also derive stable income stream from REIT’s distributions. Orderbook quotes suggest further upside unlikely today.

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China and Taiwan presidents swap telegrams

Hu Jintao and Ma Ying-jeou talk of peace in a sign of improved relations that could lead to historic summit

First came direct flights, then freight links, and now a single telegram. The presidents of Taiwan and China exchanged direct messages today for the first time in 60 years, in the latest sign of their thawing relations.

Hu Jintao wrote to Taiwan’s Ma Ying-jeou to mark the latter’s election as chairman of the Nationalist party.

Bacuse of the enduring mutual sensitivities, the message was sent simply to Mr Ma, while Ma’s reply was addressed to Hu as general secretary of the Communist party.

Beijing still claims sovereignty over Taiwan, which has been self-ruled since Chiang Kai-shek fled there following his defeat in the civil war in 1949. China has warned it could use force if Taipei pursued formal independence.

“I hope our two parties can continue to promote peaceful cross-strait development, deepen mutual trust, bring good news to compatriots on both sides and create a revival of the great Chinese race,” said Hu in his telegram.

“We should continue efforts to consolidate peace in the Taiwan Strait and rebuild regional stability,” Ma replied, adding that they should “put aside disputes”.

Ma was elected president in spring last year on a platform of improving relations with China and because of widespread dissatisfaction with the ruling Democratic People’s party.

But while he has signed landmark trade deals, he has avoided political issues, due in large part to powerful anti-Beijing sentiment on the island.

Lin Chong-pin, a strategic studies professor at Tamkang University in Taipei, told Reuters that the telegram suggested the Chinese leader wants to meet Ma eventually. “It’s sort of expected … It is in Hu Jintao’s benefit or advantage to meet,” Lin said. “It would be a personal feat.”

But analysts believe both sides may take years to weigh up the risks before proceeding.

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