Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-JEL jumps after tycoon's investment

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STOCKS NEWS SINGAPORE-JEL jumps after tycoon's investment Apr 3rd 2012, 02:10 Mon Apr 2, 2012 10:10pm EDT Shares of consumer goods distributor JEL Corp (Holdings) Ltd soared as much as 44 percent to a 3-year high on expectations the company's new majority shareholder, a Singapore billionaire tycoon, will help improve its operations. JEL shares rose 33 percent to S$0.024 after jumping 64 percent on Monday. About 128 million shares were traded, 2.6 times the average daily volume traded over the last five sessions. JEL was the second-most actively traded stock by volume. The loss-making firm, currently on the watch-list of the Singapore Exchange, said on Friday that Goi Seng Hui, also known as Sam Goi, will acquire 2 billion new shares in JEL at about S$0.007 each. This will give him a 57.8 percent stake in JEL. "Sam Goi will have a pretty large stake in JEL, and investors are hoping that this will turnaround the company," said a trader. Goi, a food tycoon, was Singapore's twelfth richest person with a net worth of $1.2 billion, according to Forbes last year. For related story, click: 0951 (0151 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok.thomsonreuters.com) ************************************************************ 08:48 STOCKS NEWS SINGAPORE-Index futures rise 0.4 pct Singapore index futures were up 0.4 percent on Tuesday, signalling the benchmark Straits Times Index will open higher. Asian shares rose in early trading, riding on the back of strong gains in global equities overnight after solid manufacturing data from the United States and leading Asian exporters offset signs of mild recession in Europe. For related story click: 0844 (0044 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok.thomsonreuters.com) Link this Share this Digg this Email Reprints

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