• US stocks mostly rose on Wed, amid signs that political leaders were willing to compromise in talks to avoid the fiscal cliff. The Dow rose 0.6%, the S&P 500 +0.2%; but Nasdaq fell 0.8%, weighed by Apple Inc’s court battle with Samsung.
• Majority shareholder Simon Cheong is offering to take SC Global Developments private at S$1.80 a share, valuing the firm at S$745m. Trading is set to resume today.
• Oakwell Engineering plans to raise up to S$10m in working capital through the sale of five-year convertible bonds paying interest of 8% a year, to an individual investor. The bonds are convertible into Oakwell shares at S$0.0875 each.
• Keppel REIT's subsidiary, Ocean Properties, has obtained a S$505m five-year term loan to refinance its outstanding loans. The loan facility will be secured by a mortgage against Ocean Financial Centre.
• Sysma Holdings is offering S$35m to buy De Paradiso Development Pte Ltd, a Singapore investment holding company which owns two plots of land at Serangoon. The proposed acquisition is non-binding and subject to due diligence checks and the approval of Sysma's shareholders.
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