Singapore Hot Stocks-China Sky Chem up on acquisition deal

SINGAPORE, Jan 29 (Reuters) - Shares of China Sky Chemical Fibre rose as much as 9.6 percent to S$1.48 with 1 million shares traded after the nylon fibre manufacturer said it has agreed to acquire Qingdao ZhongDa Chemical Fibre for RMB450 million ($62.53 million).

The Singapore-listed Chinese firm will pay 60 percent of the amount in cash, and the remaining 40 percent through the issue of 21 million new ordinary shares for between S$1.70 and $2.00 per share.

0127 GMT - Straits Times Index down 0.05 percent.

BBR HLDGS RISES ON CONTRACT WIN

Shares of BBR Holdings rose as much as 14.3 percent to S$0.08 with 2.4 million shares traded after the firm said it secured a S$95.3 million ($67.11 million) contract to build an office complex.
The two 12-storey tower blocks in western Singapore are expected to be completed by August 2009, the firm said in a statement on Monday.

0127 GMT - Straits Times Index up 1.18 percent.