In today’s briefing:
- Dyna-Mac (DMHL SP): No Alternative As Hanwha Group Bumps
- Malaysia Raring To Cross RM30 Bn In Rubber And Products Exports In 2024
- Indian Tire Players In Bid To Expand Reach Within And Outside
- Substantial shareholder Thomas Clive Khoo takes his Zixin stake to above 9%
Dyna-Mac (DMHL SP): No Alternative As Hanwha Group Bumps
- On the 11th September, Hanwha Ocean (042660 KS) and Hanwha Aerospace (012450 KS), collectively holding 25.36%, made a S$0.60/share cash Offer for shares not owned, conditional on a 50% acceptance.
- The transaction stalled on the 24th September, when the estate of Dyna-Mac’s founding shareholder, Desmond Lim Tze Jong (holding ~35% currently) reckoned the Offer “does not adequately reflect” Dyna-Mac’s value.
- Hanwha Group has now bumped terms by 11.67% to S$0.67/share, best & final. That’s a 35.4% premium to undisturbed, and a decade high. No word, yet, from the Lim estate.
Malaysia Raring To Cross RM30 Bn In Rubber And Products Exports In 2024
- USTR clamping 50% duty on Chinese gloves from Jan comes in handy
- Over 35% Malaysian rubber glove exports directed to the US
- Malaysia’s rubber and products exports rise to RM15.5 bn in H1 2024
Indian Tire Players In Bid To Expand Reach Within And Outside
- JK Tyres to pump in INR 1400 crore in two-three years
- Apollo Tyres consolidates R&D in Europe
- Gravita India to acquire waste tire recycling plant in Romania
Substantial shareholder Thomas Clive Khoo takes his Zixin stake to above 9%
- Institutions were net buyers of Singapore stocks over the five trading sessions spanning Oct 4 to Oct 10, with S$211 million of net institutional inflow, adding to the preceding five sessions of S$50 million net inflow.
- Leading the net institutional inflow over the five sessions through to Oct 10 were DBS Group Holdings, Seatrium, Hongkong Land Holdings, Wilmar International, iFAST Corporation, Genting Singapore, SATS, Sembcorp Industries, Singapore Exchange and Frasers Logistics & Commercial Trust.
- Its 1HFY24 (ended June 30) net profit of S$0.3 million compared to a net profit of S$0.4 million for 1HFY23.
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