THE following companies made announcements before the start of today's trading which may affect their share prices.
Frasers Centrepoint Limited (FCL) has entered into a conditional agreement to acquire an 86.56 per cent stake in Geneba Properties, an Amsterdam-based listed real estate investment company, for 315.9 million euros (S$467.8 million).
Raffles Education Corporation Limited (REC) has been handed a163.2 million rupee (S$3.52 million) victory by an arbitration tribunal in India for breaches by Indian education services company Educomp of a prior share purchase agreement.
SINGAPORE
SHARES OPEN DOWN TODAY:
SINGAPORE stocks dipped on Monday morning, as Asian stocks
continued to face geopolitical pressures.
The Straits Times Index (STI) was down 14.05 points, or 0.44
per cent, at 3,155.19 as at 9.07am.
Some 97.3 million shares worth S$63.2 million changed hands.
Losers beat gainers 122 to 49.
Top losers included Jardine Cycle & Carriage, City
Developments, and United Overseas Bank.
Geopolitical tensions in the region remained the focus for
investors worldwide, with US Vice-President Mike Pence touching down in South
Korea on Monday amid heightened tensions on the Korean peninsula to kick off
his four-nation tour of Asia.
Also, China will be releasing its first-quarter gross
domestic product figure on Monday. Bloomberg reports that the world's
second-largest economy is expected to have grown 6.8 per cent in the first
three months of the year for a second straight quarter, according to a
Bloomberg survey of economists, driven by higher property and producer prices.
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