Singapore shares may open higher on Tuesday after the S&P 500 hit a two-year high overnight, continuing a steady upward march that investors believe will continue in 2011.
The following companies may have unusual price changes in Singapore trading today. Stock symbols are in parentheses, and share prices are from the previous close. Singapore’s Straits Times Index dropped 0.6% to 3,132.96.
Amtek Engineering (AMTK SP): The supplier of precision components to companies such as Sony Corp. said Capital Group LLC raised its stake in the company to 6.3% from 5.5%. Amtek dropped 2.7% to $1.09.
China Animal Healthcare (CAL SP): The Beijing-based manufacturer of veterinary drugs said its shares will start trading today in Hong Kong. The stock was unchanged at 39.5 cents.
Genting Singapore Plc (GENS SP): Genting’s Resorts World Sentosa and Marina Bay Sands may post $3.7 billion in casino revenue this year and US$7.2 billion in 2011, Today reported, citing PricewaterhouseCoopers LLP. Genting Singapore, part of Malaysia’s Genting Bhd., fell 1.4% to $2.08.
GMG Global (GGL SP): The Singapore-based owner of rubber plantations in West Africa said it has seen shipment delays amid civil unrest from Ivory Coast. The shares were unchanged at 30 cents.
Noble Group (NOBL SP): The Hong Kong-based supplier of commodities backed by China’s sovereign fund said it agreed to buy sugar mills in Brazil for US$1.25 billion, including debt, to increase its production of the sweetener by 81%. The stock decreased 1.5% to $2.04.
Wilmar International (WIL SP): The world’s biggest palm-oil trader said it will invest $36.2 million in a palm-oil refinery and food ingredients venture with PZ Cussons Plc, the UK maker of Imperial Leather soap, in Nigeria. Wilmar lost 1% to $5.95. The venture could generate “several hundred million dollars,” said Brandon Leigh, PZ Cussons finance director.
Palm oil refiner Mewah International said on Monday its unit, Mewah Oils and Fats, has been granted credit facilities with a principal amount of US$132 million by Rabobank International.
Hengxin Technology (HNGX.SI), which manufactures telecommunications cables, said on Tuesday it had set the offer price for its proposed dual primary listing on the Hong Kong Stock Exchange at HK$2.25 (38.1 cents) per share.
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