Heavy Electrical Equipment
Sasebo Heavy Industries Co Ltd Announces Early-retirement Program
Sasebo Heavy Industries Co Ltd announced that it has decided to offer an early-retirement program, during the period from July 29, 2013 to August 2, 2013. The Company expects approximately 250 employees to take up the offer. The retirement date is September 30, 2013. The Company will provide retirement payment and special allowance, as well as reemployment support.
Cosco Corporation (Singapore) Ltd's Subsidiary Dissolves Cosco Lianyungang Shipyard Co Ltd
Cosco Corporation (Singapore) Ltd announced that Cosco Lianyungang, a 60% owned subsidiary of the Company’s 51% owned subsidiary, Cosco Shipyard Group Co. Ltd, have passed a resolution to dissolve Cosco Lianyungang.
Austal Ltd Consolidates Service Divisions and Starts Ramp Up of Australian Construction Activity
Austal Ltd (Austal) announced that the Company is consolidating its two Henderson bases into its primary facility and closing its Spanish service business. The Company is also increasing construction activity at Henderson as the Cape Class Patrol Boat program shifts from first-in-class construction and trials to steady-state construction operations. Austal is transferring service operations from its satellite service base at Henderson, Western Australia, to its nearby primary shipbuilding facility to reduce overhead costs and drive margin growth for both its shipbuilding and service operations. A decision has not been made whether to sell or lease out the shipyard infrastructure at the service base. Austal will close its service centre in Spain, however its other service businesses in the Middle East, Americas, Asia and Australia are unaffected. Austal expects approximately 14 staff will be made redundant at the service centre in Spain, with two staff repatriating to Australia. At Henderson, 12 positions have been made redundant as a result of the consolidation. Meanwhile, the Company is intending to recruit more than 100 people in trade positions over the coming months at the Henderson shipyard to work on the Cape Class Patrol Boat (CCPB) program for the Australian Customs and Border Protection Service.
DAIFUKU CO LTD to Merge with Subsidiary
DAIFUKU CO LTD announced that it has decided to merge with a wholly owned subsidiary, which is engaged in the research and development of logistics systems and related consultant business in Osaka, Japan, effective April 1, 2013. As a result, the Company will be the surviving company and the subsidiary will be dissolved.
Jaya Holdings Ltd Announces Restructuring Of Corporate Structure; Subsidiary Executes Sale And Purchase Agreement
Jaya Holdings Ltd announced the streamlining of the Group's corporate structure, the Company’s wholly owned subsidiary, Jaya Logistics Pte Ltd has been renamed as Jaya Offshore Support Services Pte. Ltd. (JOSS). The following subsidiaries of the Group are directly owned by JOSS JSE Shipping Pte. Ltd; JSE Offshore Shipping Pte. Ltd; Jaya Offshore Services Pte. Ltd. The Company’s wholly owned subsidiary, Java Marine Lines Pte Ltd (JML), has executed a sale and purchase agreement with Batamindo Shipping & Warehousing Pte Ltd (BSW), an associated company of Sembcorp Industries Ltd (Sembcorp) for the disposal of JML’s entire holding of 175,000 ordinary shares (the Sale Shares) or 35% interest in Batamindo Carriers Pte Ltd (Batamindo Carriers) for a total cash consideration of SGD290,850 (the Consideration).
NICHIDEN Corp to Merge with Osaka-based Subsidiary
NICHIDEN Corp announced that it has decided to merge with an Osaka-based wholly owned subsidiary, which has been engaged in leasing of real estate, effective January 26, 2013. After the transaction, the Company will be the surviving company and the subsidiary will be dissolved.
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Sector Summary
| Energy |  -0.46% |
| Basic Materials | -1.54% |
| Industrials | -1.64% |
| Cyclical Goods & Services | -1.62% |
| Non-Cyclical Goods & Services | -0.92% |
| Financials | -2.03% |
| Healthcare | -0.55% |
| Technology | -0.62% |
| Telecoms | -0.85% |
| Utilities | -1.37% |
| DOW | 15,294.50 | -12.67 |
-0.08% |
| S&P 500 | 1,650.51 | -4.84 |
-0.29% |
| NASDAQ | 3,459.42 | -3.88 |
-0.11% |
| TR US Index | 149.65 | -0.40 |
-0.26% |
Analyst Research
| Report Title | Price |
|---|---|
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Provider: Edison Investment Research
|
$10.00
|
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Provider: Bohai Securities Co.,Ltd.
|
$35.00
|
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Provider: Bohai Securities Co.,Ltd.
|
$35.00
|
|
Provider: Auerbach Grayson & Co., Inc.
|
$10.00
|
|
Provider: GlobalData
|
$125.00
|
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