Singapore stocks are set to rise on Thursday after Wall Street rose sharply on strong corporate earnings and outlooks bolstering economic confidence.
Singapore’s benchmark Straits Times Index <.FTSTI> rose 1.29% on Wednesday to 3,165.80 points.
Here are some stocks and factors to watch:
Keppel Corp (KPLM.SI), the world’s largest rig-builder, may be in focus after posting a better-than-expected 7.8% rise in quarterly net profit, helped by better margins from its offshore and marine business, while new orders for oil rigs rebounded.
Singapore’s Ascott Residence Trust (ASRT.SI) said on Wednesday its first quarter distribution per unit rose 29% year-on-year to 2.14 cents, helped by additional revenue from the 28 properties it acquired in October last year.
CapitaMall Trust (CMLT.SI), which owns shopping malls in Singapore, said on Wednesday its first quarter distribution per unit rose 3% to 2.29 cents from a year earlier, helped by riverfront property Clarke Quay, as well as higher rental rates from new and renewed leases.
Singapore’s Tiong Seng Holdings (TISE.SI) said its unit Tiong Seng Contractors had won a $104 million ($84 million) contract for constructing an upscale housing project in the city.
First REIT (FRET.SI) said on Wednesday its first quarter distribution per unit was 1.58 Singapore cents, down from 1.90 cents a year earlier, after a rights issue in December 2010. But distributable income rose 88.5 percent year-on-year mainly due to the contributions from a cancer centre and a hospital in Indonesia.
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