Mercator International's stake in Mercator Lines Singapore drops from 71.95% to 68.44%

Thu, Feb 28, 2013 at 09:18

Mercator International's stake in Mercator Lines Singapore drops from 71.95 percent to 68.44 percent.

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Mercator International's stake in Mercator Lines Singapore drops from 71.95% to 68.44%

Mercator International's stake in Mercator Lines Singapore drops from 71.95 percent to 68.44 percent.

Like this story, share it with millions of investors on M3

Mercator International's stake in Mercator Lines Singapore drops from 71.95% to 68.44%

Mercator International's stake in Mercator Lines Singapore drops from 71.95 percent to 68.44 percent.

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With reference to the earlier announcement dated January 02, 2013 regarding the Company's Singapore based step-down subsidiary, Mercator Lines (Singapore) Ltd. (MLS) entering into early termination and settlement agreements with the owners of two vessels and the compensation payable in the form of cash compensation and issue of new ordinary shares in the capital of MLS. MLS has issued and allotted 64,215,205 new ordinary shares in its capital pursuant to the terms of early termination agreement, Mercator Ltd has now informed BSE that the total capital of MLS stands increased to 1,316,294,879 ordinary shares. Consequently, the holding of the Company's WOS, Mercator International Pte. Ltd. (MIPL) into MLS has reduced from 71.95% to 68.44%.Source : BSE

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highlights

• Economic slowdown a wake-up call for stepping up reforms
• Future shift in RBI policy stance would be desirable.
• Tight RBI policy led to sharper-than-expected slowdown
• April-December data shows 5.3% fiscal gap aim 'achievable'.

more »

flashes

• Budget a significant event given current BoP crisis: Nirmal Jain
• Freeze in government spending to impact economic growth: Vetri Subramaniam
• FY14 Budget not a make or break event for economy: Vetri Subramaniam
• Budget unlikely to be populist but may be driven by politics:Vetri Subramaniam

more »

InterpretationS

• Railway minister has done a commendable job in meeting competing demands of improving services and controlling expenditure: PM
• It is a reformist and forward- looking Budget: PM
• If you look at the overall Budget, it was relatively muted and there was nothing exciting and no steps were taken, which would make the market happy: ICICI Direct
• There is no major capex from the civil construction on the freight corridor, though some investments are coming on the metro side: KEC International

more »

SECTOR IMPACT

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EXPECTATIONS

expectation on: Policy

Latha Venkatesh

Banking editor | CNBC-TV18

expectation on: Policy

Kiran Mazumdar Shaw

CMD | Biocon

expectation on: People

Saumitra Chaudhuri

Member | PMEAC

expectation on: Markets

Tirthankar Patnaik

NULL | Religare Cap Markets

expectation on: Markets

Ajay Srivastava

CEO | Dimensions Consulting

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