The now-defunct Kardashian Kard is long gone, but the ghost of one of the few business deals to fall through for sisters Kourtney, Kim, and Khloe Kardashian has come back to haunt the publicity-happy trio. On Friday, the socialite/reality stars were hit with a $75 million lawsuit for allegedly breaking their contract with the company [...]
Posts Tagged ‘Kim’
Kim Eng rises to record after Maybank makes buyout bid: Update
January 7th, 2011 |
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Kim Eng Holdings, a Singaporean brokerage, surged to a record after Malayan Banking, Malaysia’s biggest lender, offered to buy the company for $1.79 billion to speed up expansion in Southeast Asia.
Shares of Kim Eng jumped 13% to $3.05 at the 5 p.m. close in Singapore trading, an all-time high, making it the best performer on Singapore’s stock exchange. Maybank, as the Kuala Lumpur-based company is known, slipped 0.1% to 9 ringgit, snapping a three-day gain.
Shares down at midday on profit-taking; Kim Eng surges
January 7th, 2011 |
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Singapore shares were down at midday on Friday, pulling back after a rally in the first few trading sessions of the year, but stockbroker Kim Eng (KEHS.SI) outperformed the broader market after Malaysian lender Maybank made a bid for the firm.
Maybank (MBBM.KL), Malaysia’s largest lender by assets, is snapping up Kim Eng for $1.4 billion in a move to strengthen its grip on the regional stock broking industry and diversify the lender’s source of overseas revenue.
Kim Eng rises to record after Maybank makes $1.79b bid
January 7th, 2011 |
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Kim Eng Holdings, a Singaporean brokerage, surged to a record and Malayan Banking gained after Malaysia’s biggest lender offered to buy the company for $1.79 billion to speed up expansion in Southeast Asia.
Shares of Kim Eng jumped 12% to $3.03 at 10:48 a.m. in Singapore trading, set to close at an all-time high. Maybank, as the Kuala Lumpur-based company is known, added 0.7% to 9.07 ringgit, headed for its highest close since Nov. 16.
Kim Eng +12.6%; offer tipped to be unconditional
January 7th, 2011 |
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Kim Eng (K50.SG) is last +12.6% at $3.03 on resuming trade after Maybank’s (1155.KU) US$1.4 billion ($1.82 billion) offer to buy the brokerage, still below the $3.10 per share offer price which values the brokerage firm at 1.9X book.
Kim Eng rises 13% on Maybank’s takeover bid
January 7th, 2011 |
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Shares of Singapore’s Kim Eng Holdings (KEHS.SI) opened 13% higher on Friday after Malaysia’s largest lender Maybank (MBBM.KL) offered to buy the stockbroker for US$1.4 billion ($1.8 billion).
Around 9:02 a.m., Kim Eng shares were traded at $3.05, below Maybank’s offer price of $3.10 a share but well above its last traded price of $2.70.
Maybank said on Thursday that it has already agreed to buy a 44.6% stake in Kim Eng from two major shareholders.
Jan 7: Singapore Stocks-May open lower on US stocks; Kim Eng in focus
January 7th, 2011 |
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Singapore shares may open lower on Friday, following Tokyo, after US stocks weakened overnight as soft retail sales and a sharp rise in the dollar left investors edgy before December’s US employment report.
Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.78% on Thursday to 3,279.70 points.
Here are some stocks and factors to watch:
Jan 7: China Taisan, Kim Eng, Stratech Systems
January 7th, 2011 |
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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.
Maybank makes $1.8b bid for Kim Eng: Update 3
January 6th, 2011 |
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Malayan Banking Bhd., Malaysia’s biggest lender by assets, offered to buy Singaporean brokerage Kim Eng Holdings Ltd. in a deal valued at $1.79 billion, accelerating its expansion in Southeast Asia.
Maybank, as the Kuala Lumpur-based company is known, agreed to buy a 44.6% stake in Kim Eng from Taiwan’s Yuanta Securities Asia Financial Services and Kim Eng Chairman Ronald Anthony Ooi Thean Yat at $3.10 a share, the companies said in separate statements today. That’s a 36% premium to the stock’s average price over the past 20 days.
Malaysia Maybank may need 500m ringgit to bid for Kim Eng units
January 6th, 2011 |
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Malaysia’s top lender, Maybank (MBBM.KL), will finance its purchase of Singapore broker Kim Eng Holdings (KEHS.SI) through a mix internal and external funds, its chief executive Abdul Wahid Omar said on Thursday.
Maybank may sell bonds to help finance Kim Eng takeover bid
January 6th, 2011 |
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Malayan Banking may sell bonds to help finance the takeover of Kim Eng Holdings, Chief Executive Officer Abdul Wahid Omar said in Kuala Lumpur today.
The plan may include selling Singapore dollar debt as Kim Eng is a Singapore entity, he said.
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Boustead Singapore rated ‘buy’ by Kim Eng
January 6th, 2011 |
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Kim Eng Research in a Jan 3 research report says: “Boustead has been quietly delivering, reporting record profits year after year from FY Mar03 to FY Mar09, with sustained double-digit growth rate. Multiple growth opportunities exist for Boustead’s varied businesses.
Raffles Education +5.5%; buybacks give confidence – Kim Eng
January 6th, 2011 |
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Raffles Education (E6D.SG) +5.5% at $0.290 with over 45 million shares changing hands, extending yesterday’s 7.8% rise, also on increased volume.
Kim Eng Securities says the company recently caught its attention because of the significant number of directors increasing their shareholding and company share buy-backs over 2010.
Maybank makes $1.79b bid for Singapore’s Kim Eng: Update 2
January 6th, 2011 |
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Malayan Banking, Malaysia’s biggest lender by assets, offered to buy Singaporean brokerage Kim Eng Holdings in a deal valued at $1.79 billion, accelerating its expansion in Southeast Asia.
Maybank, as the Kuala Lumpur-based company is known, agreed to buy a 44.6% stake in Kim Eng from Taiwan’s Yuanta Securities Asia Financial Services and Kim Eng Chairman Ronald Anthony Ooi Thean Yat at $3.10 a share, the companies said in separate statements today. That’s a 36% premium to the stock’s average price over the past 20 days.
Buoyed by commodities; Kim Eng in focus
January 6th, 2011 |
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Singapore shares were up 0.6% by midday on Thursday, buoyed by commodity stocks and stronger-than-expected data on U.S. jobs that signal its economic recovery may be on track.
Kim Eng Holdings (KEHS.SI) may be in focus in the afternoon after it said Maybank (MBBM.KL), Malaysia’s biggest lender, will make an offer to buy the Singapore brokerage for $1.4 billion, or S$3.10 per share, in the biggest ever deal involving a securities house in the city-state.
Kim Eng starts RH Petrogas at Buy; $1.35 target
January 6th, 2011 |
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Kim Eng starts RH Petrogas (T13.SG) at Buy with a target of $1.35 based on a conservative sum-of-the-parts valuation of its oil field assets.
“We expect the company to cement its place as a major player in the regional upstream energy sector…(the company) is backed by the Rimbunan Hijau Group, one of the largest conglomerates in Malaysia. RHP is therefore able to leverage the broader capabilities and financial strength of the group. It is also likely that there will be more oil field assets injected into RHP from the RH Group,” Kim Eng says.
The house expects RH Petrogas to issue new equity shares to fund its development parts and Temasek may become a significant shareholder under the terms of the sale of Orchard Energy.
The stock is +10% at $0.82.
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Maybank makes $1.79b bid for Singapore’s Kim Eng: Update
January 6th, 2011 |
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Malayan Banking, Malaysia’s biggest lender by assets, offered to buy Singaporean brokerage Kim Eng Holdings in a deal valued at $1.79 billion, accelerating its expansion in Southeast Asia.
Maybank, as the Kuala Lumpur-based company is known, agreed to buy a 44.6% stake in Kim Eng from Yuanta Securities Asia Financial Services and Kim Eng Chairman Ronald Anthony Ooi Thean Yat at $3.10 a share, the companies said in separate statements today. That’s 15% above Kim Eng’s latest price.
Maybank to make $1.81b offer for Kim Eng
January 6th, 2011 |
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Maybank (MBBM.KL), Malaysia’s biggest lender, will make a US$1.4 billion ($1.81 billion) offer for Singapore brokergage Kim Eng Holdings (KEHS.SI), Kim Eng said on Thursday.
The offer translates to $3.10 per share for Kim Eng.
The offer translates to $3.10 per share for Kim Eng.