Singapore shares may have a tepid opening on Monday after Wall Street ended a strong year with a quiet and little changed session, but may be supported by news that Singapore's economy grew 14.7% in 2010. The benchmark Straits Times Index <.FTSTI> was down 0.7% last Friday to 3,190.04 points. Here are some stocks and factors to watch, say Thomson Reuters and Bloomberg:
Singapore lender Oversea-Chinese Banking Corporation (OCBC.SI) may be in focus after it said the merger of its two licensed bank subsidiaries in Indonesia — Bank OCBC Indonesia and Bank OCBC NISP — has taken effect from January 1.
China New Town (CNTW.SI), which develops large-scale towns in China, said on Friday it had acquired the land use right of a land block for mixed use of residential property and public facilities in Pi County, Chengdu for 446.5 million yuan ($86.9 million).
Singapore property developer Allgreen Properties (AGRN.SI) said last Friday it will transfer 15% equity interest in Kerry (Shenyang) Real Estate Development to Shangri-La Asia for 473.85 million yuan ($92.2 million).
Singapore healthcare real estate investment trust First REIT (FRET.SI) said on Friday it had completed the acquisition of two Jakarta hospitals, which have nearly doubled its assets under management to $612.8 million.
Singapore firm Oakwell Engineering (OAKW.SI), which provides design and fabrication services, said on Friday it had received a term loan of up to US$45.4 million ($58.3 million) from Standard Chartered to finance the building of two survey vessels.
TPV Technology (TPV SP): the computer-monitor maker said it had completed the purchase of entire interests in two Koninklijke Philips Electronics N.V. units in China. An agreement whereby Philips grants TPV exclusive rights to use its trademark on TV products in China for five years also came into effect at the end of last year, the company said. TPV shares rose 0.6% to 82 cents.
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