You are here
Stocks to watch: YuuZoo, Noble, Lizhong Wheel, SATS, SingPost, Japfa
YuuZoo: The e-commerce company said on Tuesday it has acquired the key assets of Shanghai-based mobile game developer Camigo Media LLC, including user data for over 26 million users, 11 leading mobile games and the Camigo brand.
When contacted, YuuZoo chairman & CEO Thomas Zilliacus declined to give the value of the deal, except to say that the full payment will be made in YuuZoo shares - representing less than 0.5 per cent of YuuZoo's issued shares. Based on its approximately 632 million shares in issue, and last closing price of S$0.16, that adds up to about S$500,000.
YuuZoo said it will benefit from Camigo's distribution and payment relationships that include China Mobile, China Unicom, China Telecom, DoMob, LiMei and AliPay. YuuZoo will also be able to market its new gamified social e-commerce platform to the now-acquired user base of over 26 million.
Noble Group: The commodity trader said on Monday it is keeping all options open to preserve the strength of its balance sheet, even if it means selling businesses that are considered core.
In its inaugural Investor Day on Monday, the group's management sought to explain its business model, address criticisms regarding its accounting practices and reaffirm the quality of its current balance sheet.
It also said that the group will be taking on board all of PricewaterhouseCooper's recommendations to improve its mark-to-market valuation processes, and will engage the auditor again by the end of the year to review its progress on these.
Lizhong Wheel Group: Its major shareholder on Monday launched a voluntary cash offer for the aluminium alloy wheel maker for 50 Singapore cents apiece. The offer was made by Berkley International, an investment holding firm owned by Tianjin Dong An Brothers, which in turn is owned by Li Zhong Investment - the investment vehicle of the Zang family that owns 64.23 per cent of Lizhong Wheel.
Li Zhong Investment and two other shareholders have executed irrevocable undertakings in favour of the offer with the undertaking shareholders, as at the date of the announcement of the offer, representing 66.77 per cent of the total issued shares.
SATS Ltd and Singapore Post (SingPost): The firms said on Monday they are tying up to provide airmail consignment handling services to the postal carrier from a new automated facility within the Changi Airfreight Centre.
SingPost will be the anchor customer at SATS's 6,000-square-metre facility - SATS eCommerce AirHub - which is expected to be operational by December 2016 and located at SATS Airfreight Terminal 1, said the firms in a joint statement. This will make SATS the first ground handler in the world to own such an airside facility.
Japfa: The agri-food group said on Monday it has tied up with Europe-based dairy and milk-processing company Food Union Group to build, own and operate a US$200 million premium milk-processing plant in Shandong province, China.
The joint venture (JV) is between Japfa's 61.87 per cent owned subsidiary AustAsia Investment Holdings (AIH) and Food Union. AIH will invest up to US$20 million in stages for a 10 per cent stake in the milk-processing plant, which will manufacture high value-added dairy products, while Food Union will hold the remaining 90 per cent stake in the JV.