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Singapore Share Market Update:SGX, CWT, Triyards, Singapore Myanmar Investco, Lian Beng

Singapore Here are some stocks that could move the market this Friday morning.

Law don Tan Cheng Han has been appointed the chairman of Singapore Exchange Regulation, the unit hived off from the Singapore Exchange to focus solely on regulatory matters. Professor Tan, the former dean of the National University of Singapore law faculty, is also chairman of the Centre for Law & Business at the faculty. Shares of SGX closed at $7.65.

HNA Group Co. is in advanced talks about making a formal takeover offer for logistics provider CWT after almost a year of exclusive talks, in a deal valuing the Singapore company at about $1.4 billion, people with knowledge of the matter said. Shares of CWT closed at $2.07.

Triyards Holdings recorded a loss after tax of US$4.2 million ($5.9 million) and US$6.3 million in 1H17 and 2Q17 ended Feb after making a total allowance of US$8.4 million in doubtful receivables. Shares of Triyards closed at 25 cents on Thursday.

Singapore-Myanmar Invesco plans to open up and operate up to 10 retail brands and F&B concepts in the retail & entertainment complex of Junction City, the integrated development in Yangon. Shares of Singapore Myanmar Invesco closed 2 cents lower at 52 cents.

Epic Land, the consortium led by Lian Beng Group, is selling away what could be the last eight strata office units spanning 55,711 sf in Prudential Tower. Lian Beng owns 32% in Epic Land while the other consortium members are KSH, KOP and Centurion Global have 28%, 25%, and 15% stakes. Shares of Lian Beng closed at 62 cents.

Markets
Wall Street’s major indexes closed slightly higher on Thursday but finished well off session highs as investors were nervous about upcoming talks between China’s President Xi Jinping and US President Donald Trump. The Dow Jones Industrial Average closed up 14.8 points, or 0.07%, to close at 20,662.95, the S&P 500 gained 4.54 points, or 0.19%, to 2,357.49 after reaching a session high of 2,364.16 earlier in the day. The Nasdaq Composite added 14.47 points, or 0.25%, to 5,878.95.

The Straits Times Index on Thursday slipped 0.96 of a point to 3,175.59. Turnover amounted to low 3.1 billion units worth $1.03 billion and excluding warrants there were 160 rises versus 325 falls.

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