Saturday, January 24, 2015

Trending News-

United Fiber System gets SGX nod for RTO deal with Golden Energy Mines

SINGAPORE (Jan 23): United Fiber System said it has received approval-in-principle for the reverse takeover deal with Indonesian coal mine owner PT Golden Energy Mines Tbk.
Golden Energy is controlled by Indonesia's Sinar Mas Group through its listed unit PT Dian Swastatika Sentosa Tbk and holds the coal assets of the group.
The backdoor listing will give Sinar Mas Group coal-mining assets access to more funds while shifting United Fiber's business away from forestry and construction to coal-mining.

Singapore shares rally; STI above 3,400

SINGAPORE (Jan 23): Singapore stocks rallied, with the Straits Times Index rising above 3,400 for the first time since May 2013, as the European Central Bank's massive bond-buying programme boosted risk appetite.
The €60 billion ($91 billion) worth of bonds that the ECB will buy every month from March this year till September 2016 was more than what markets had expected.

 

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