Singapore shares may see a weak start on Tuesday following losses on most US stock indices overnight as investors remained jittery over the Federal Reserve’s meetings later this week. Singapore’s benchmark Straits Times Index <.FTSTI> lost 0.22% at 3,187.72 on Monday. Here are some stocks and factors to watch:
CapitaLand (CATL.SI), Southeast Asia’s largest property developer, may be in focus after it reported a three-fold increase in first quarter net profit over restated earnings, helped by higher profits from development projects and portfolio gains.
Hotel owner CDL Hospitality Trusts (CDLT.SI) said on Tuesday its first quarter distribution per unit rose 2.6% to 2.38 cents, boosted by higher contributions from its hotels in the city-state.
Neptune Orient Lines (NEPS.SI), the world’s sixth biggest container shipping firm, said current CEO Ron Widdows will retire by the end of 2011 and will be replaced by a senior executive from state investor Temasek Holdings.
New Zealand farming company New Zealand Farming Systems Uruguay Ltd (NZS.NZ) said on Tuesday it had received a takeover offer by majority shareholder Olam International (OLAM.SI) for the 22% it does not control. The takeover offer was priced at NZ$0.70 ($0.69), compared to the company’s last traded price of NZ$0.55.
The Think Environmental (THEC.SI) said it will buy Belvedere Asset for US$1.15 million ($1.4 million), which has an exclusive agreement to own a 40% stake in a Philippine-based gold mining special purpose vehicle.
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