Jul 22: Singapore stocks seen up; Keppel Corp, Mapletree Logistics in focus

Singapore shares are set to open higher on Friday as a second bailout package for Greece and signs of progress on the U.S. debt deal boosted investor sentiment.

Singapore’s benchmark Straits Times Index <.FTSTI> gained 0.38% on Thursday to 3,138.51 points.

Here are some stocks and factors to watch:

Singapore’s Keppel Corp (KPLM.SI), the world’s largest oil rig builder, may be in focus after reporting a better-than-expected 9.3% rise in second-quarter net profit as margins from its offshore and marine business remained high.\

Bank of America Merrill Lynch raised its target price on Keppel to $13.15 from $12.07 on the back of the firm’s stronger-than-expected profit margins. It maintained its buy call.

Singapore’s Mapletree Logistics Trust (MAPL.SI) said on Thursday its second quarter distribution per unit rose 3.2% year-on-year to 1.60 cents mainly due to the contribution from its acquisitions.

Suntec REIT (SUNT.SI), which owns malls and offices in Singapore, posted on Thursday quarterly distribution per unit that was little changed from a year ago. Suntec will distribute 2.532 cents per unit for the second quarter ended June, marginally up from 2.528 cents a year ago.

Australia’s air safety regulator says it still hopes to resolve the future of budget carrier Tiger Airways’ (TAHL.SI) Australian operations by the end of the month after plans for a court hearing Friday to extend a flying ban were suspended.

Singapore’s Broadway Industrial (BRWY.SI), which makes components for the hard disk industry, reported a 64 percent year-on-year fall in second-quarter net profit to $3.7 million, hurt by greater wage costs in China and other manufacturing expenses.