Singapore Exchange said four Southeast Asian securities exchanges invited vendors to provide technology infrastructure for the Asean Trading Link, which it expects to launch toward the end of this year. The four exchanges are Bursa Malaysia, the Philippine Stock Exchange Inc., Singapore Exchange and the Stock Exchange of Thailand.
Singapore shares may open higher on Wednesday after global markets rallied on strong manufacturing data and easing concerns about the Middle East, although volumes are expected to be light on the eve of Chinese New Year. Citigroup in a note its clients on Wednesday said ample global liquidity suggests continued Singapore dollar strength, low interest rates and buoyant commodity prices. Singapore’s benchmark Straits Times Index <.FTSTI> was up 0.16% to 3,184.74 points. Here are some stocks and factors to watch:
The following companies may have unusual price changes in Singapore trading. Stock symbols are in parentheses, and share prices are from the previous close. Singapore’s Straits Times Index gained 0.2% 3,184.74.
Cerebos Pacific (CER SP): The maker of Brand’s Essence of Chicken health tonic said net income in the three months ended December rose 16% to $42.6 million from a year earlier. The shares lost 1.2% to $4.87.
Tuan Sing Holdings says it posted a net profit after tax attributable to shareholders of $68.2 million for the year ended 31 December 2010, an increase of 53% compared to last year.
Property generated profit after tax of $52.3 million, driven by strong sales and profit recognition on Lakeside Ville Phase III in Shanghai and a fair value gain of $28.6 million largely from investment properties in Singapore.
Genting Singapore PLC says its wholly-owned subsidiary, Resorts World Properties, has agreed to purchase Singapore Technologies Building at 3 Lim Teck Kim Road for $146 million from Singapore Technologies Holdings.
Singapore Technologies Building is a 13-storey freehold office building with office space on the ground floor. The property has an existing gross floor area of 128,600 square feet and an approved plot ratio of 6.6 over its freehold site area of 1,802.5 square metres. The property also contains 135 car parking lots.
As the property is close to the Resorts World Sentosa, Genting Singapore plans to house its support departments for the integrated resort in that building.
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Boustead Singapore says it has won a contract of an undisclosed amount to design, build and lease an integrated private jet sales and maintenance, repair and overhaul facility for Hawker Pacific Asia at Seletar Aerospace Park. Expected to be completed in 1Q 2012, the facility has a gross floor area of 9,400 square metres.
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Shares on the measure trade at an average 14.5 times estimated earnings, compared with about 15.6 times at the end of 2010, according to data compiled by Bloomberg. The following shares were among the most active in the market.
Rob Bier has been appointed independent director wef Jan 25
Work experience: Operation executive, TowerBrook Capital LLP, London/Singapore; founder/CEO, SPARCK Hypotheken, Amsterdam; MD, Kensington Mortgages, London
Tash Tobias has been appointed GM, InterContinental Singapore wef January 2011
Work experience: Hotel manager, InterContinental Asiana Saigon; regional director, Revenue Management, Australasia, InterContinental Hotels Group
Sellers of 380-centistoke fuel oil, or bunkers, will receive an average US$4.20 ($5.37) a metric ton more than what they pay for the cargoes in Singapore this year, according to the median estimate in a survey of six traders conducted Jan. 24-27. The difference, known as the bunkers premium, shrank to an average US$3.40 a ton last year from US$5.92 in 2009 and $12.14 in 2008, according to data compiled by Bloomberg.
Shares on the measure trade at an average 14.6 times estimated earnings, compared with about 15.6 times at the end of 2010, according to data compiled by Bloomberg. The following shares were among the most active in the market.
Singapore will defer its mid-year review of bus and subway train fares till the fourth quarter of the year, delaying what will likely have resulted in higher cost of public transport, the Straits Times newspaper reported on Tuesday.
Singapore’s public transport fare review mechanism takes into account inflation and average wage changes in the preceding year, meaning operators SMRT (SMRT.SI) and ComfortDelgro (CMDG.SI) would have gotten the greenlight to raise fares at the next review.
The following companies may have unusual price changes in Singapore trading. Stock symbols are in parentheses, and share prices are from the previous close. Singapore’s Straits Times Index declined 1.6% to 3,179.72.
CEI Contract Manufacturing (CEI SP): The maker of electronics components said full-year net income increased to $5.2 million from $2.3 million a year ago. The stock surged 8.7% to 12.5 cents.
