Singapore shares are likely to rise on Monday, following a jump in U.S. stock index futures on hopes that U.S. lawmakers may reach a deal to raise the country’s debt limit soon and avert a debt default.
Singapore’s benchmark Straits Times Index <.FTSTI> finished 0.02% lower on Friday at 3,189.26 points. Here are some stocks and factors to watch:
Wastewater treatment firm United Envirotech (UNIT.SI) may be in focus after it said on Monday an affiliate of Kohlberg Kravis Roberts & Co. has agreed to invest US$113.8 million ($136.8 million) in a convertible bond of the firm.
Frasers Commercial Trust (FRCR.SI), which owns office properties in Asia, said its third-quarter distribution per unit rose 10% to 1.38 cents from 1.25 cents a year ago, helped by higher net property income from its Australian properties.
Budget carrier Tiger Airways (TAHL.SI) said on Monday it has applied together with the Civil Aviation Safety Authority of Australia for a further adjournment for court proceedings to August 3. Tiger also said on Friday demand for its flights from Singapore remain buoyant despite the suspension of its domestic operations in Australia.
China Fishery (CNFG.SI) said on Monday it will delay its plans for dual primary listing on the Hong Kong stock exchange, “in light of prevailing market conditions”.
Massage chair maker Osim International (OSIL.SI) said its unit has bought a 15% stake in its Malaysia subsidiaries Victoria House and Nutri-Active for $2.4 million. Both firms retail and distribute health supplements in Malaysia through its GNC branded outlets. This comes after a Reuters interview that Osim aimed to acquire one or two firms every year.
International Container Terminal Services Inc (ICT.PS) of the Philippines has decided to withdraw its offer to take over Singapore’s Portek International (PKIL.SI), International Container said on Monday in a Singapore Stock Exchange filing.
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