1. Investors are watching Wall Street with bated breath as the global equity roller-coaster ride unfolds. With Asian markets mired deep in red ink, the Dow Jones Industrial Average and Nasdaq threatened to hit fresh lows overnight.
2. As equity markets tumbled, firms jumped in to buy back their shares. For example, Ho Bee Land paid an average of $1.932 apiece for 842,100 shares while Wilmar bought six million shares at prices ranging from $2.82 to $2.96.
3. Aspial Corp also conducted a share buy-back. The company, which is selling retail bonds with a 5.25 per cent coupon rate, bought back 850,000 shares, out of a total volume of 984,200 traded yesterday. Its shares fell only 2.9 per cent, far less than the broader market.
4. Listed HLH Group has entered a sale and purchase agreement with Mr Mam Sokunthy to acquire a plot of land in Cambodia for US$7.94 million (S$11 million). The freehold land of about 22,000 sq m is for a mixed property development.
5. Singapore-listed Yoma Strategic's new chief executive Melvyn Pun has been awarded four million stock options. Aberdeen Asset Management also upped its stake in the company.