Trading in Singapore shares is likely to start on a cautious note on Thursday amid uncertainty over the resolution of sovereign debt problems in the United States and Europe. Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.98% on Wednesday to 3,126.53 points. Here are some stocks and factors to watch:
Keppel Land (KLAN.SI), Singapore’s third-largest property developer, may be in focus after it reported second quarter net profit fell 65% from a year ago. Keppel land’s revenue from property trading plunged as a result of its adopting a new accounting policy.
Singapore’s CapitaMalls Asia (CMAL.SI) posted on Thursday a doubling in second quarter net profit due to higher traffic at its shopping malls in China and revaluation gains. The firm earned $164.9 million in the quarter ended June 2011, up from $82.1 million a year earlier.
Singapore budget carrier Tiger Airways (TAHL.SI) said on Wednesday it engages in talks from time to time with various parties in relation to business opportunities or strategic direction. But the firm has not made a decision to pursue any of the initiatives, it said in a reply to a query by the Singapore Exchange. Tiger shares ended 13.5% higher on heavy volumes on Thursday, with most of the gains coming in the last hour of trading.
Singapore-listed Chinese property developer Pan Hong (PNHG.SI) said on Thursday it has priced the 300 million offer shares in its Jiangxi-based unit Sino Harbour’s initial public offering at HK$1.10 (17.1 cents) each. Trading on the Hong Kong Stock Exchange is expected to start on Friday.
Singapore’s Otto Marine (OTTO.SI) said late on Wednesday it had secured three contracts worth US$15 million ($18.2 million) to charter three of its offshore service vessels, marking its entry into new markets like Middle East as well as West and South Africa.
Singapore’s Cache Logistics Trust (CALT.SI) said on Wednesday it had acquired a warehouse in eastern Singapore for around $13.8 million. The property will be leased to Air Market Express for five years with an option for another five.
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