PRE-MARKET TAIWAN AND SINGAPOREAN STOCK NEWS: Advantech reports strong revenue figures

Advantech (2395 TT) - Co. Q2 revenue rose 46% Y/Y to TWD 26.13bln, while H1 revenue grew 32.18% Y/Y to TWD 46.51bln. (Taipei Times)  

E&R Engineering (8027 TT) - Co. said revenue this year would grow at least 20%, benefiting from strong demand from customers in China and North America. (Taipei Times)     

Jentech Precision Industrial (3653 TT) - Co. revenue in Q2 rose 37.1% Q/Q and 40.39% Y/Y to TWD 7.27bln, topping the TWD 6.32bln consensus estimate. (Taipei Times)     

M&A - The FSC approved the two major deals; the merger of Bank SinoPac (2890 TT) and King’s Town Bank (2809 TT), and the acquisition of Mercuries Life Insurance (2867 TT) by E.Sun Financial (2884 TT).    

Frasers (FPL SP) - Co. plans to sell 5 properties in Australia for AUD 288.6mln. (Frasers)      

• Singapore is tightening enforcement and increasing penalties for traffic violations.    
• Singapore’s acting Transport Minister says around USD 800mln will be injected into the transport sector over the next 5 years to strengthen the country’s position as a global transport and logistics hub.     
• Singapore Central Bank has revealed proposals for a protected cell company framework designed to lower the cost and complexity of establishing captive insurance, insurance-linked securities and sovereign risk pool structures.