Singapore shares are likely to rise on Tuesday following gains on Wall Street overnight as optimism about progress in tackling Greece’s debt crisis lifted investor confidence. Singapore’s benchmark Straits Times Index <.FTSTI> fell 0.61% to 3,048.28 points on Monday. Here are some stocks and factors to watch:
Neptune Orient Lines (NEPS.SI), the world’s seventh-largest container shipping firm, may be in focus after it said on Monday it carried 7% more cargo in the four weeks to June 3 from a year ago, helped by higher volumes on intra-Asia and Asia-Europe routes.
Singapore Airlines (SIA) (SIAL.SI), the world’s second largest carrier by market value, and its pilots’ union are taking their dispute over pay rise to the country’s Industrial Arbitration Court, Straits Times newspaper reported on Tuesday.
Shipbuilder Cosco Corporation (COSC.SI) said it has appointed Wang Yu Hang as the general manager of Cosco Shipyard Group, following the resignation of previous general manager Wang Xing Ru.
Artivision (ARTT.SI) said private equity firm Tembusu Growth Fund has lowered its stake in the company to 4.97% from 11.22% after it sold shares on the open market.
Oil and gas services firm KS Energy (KSTL.SI) said its wholly-owned subsidiary Atlantic Rotterdam has secured a 1-plus-1 year bareboat charter contract worth up to 12 million euros ($21.3 million) for its jack-up offshore accommodation rig.
Freight forwarding firm Freight Links Express (FLEH.SI) said its net profit for the year ended April 30 rose 17.6% to $16.3 million, from $13.9 million a year earlier, due to higher business volume and contributions from its management fees business.
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