The following companies may have unusual price changes in Singapore trading today. Stock symbols are in parentheses and share prices are from the previous close. Singapore’s Straits Times Index rose climbed 3.3% to 2,885.26.
Developers: The government will raise development charges for commercial, residential and hotel properties for the next six months starting today, according to a statement by the Urban Redevelopment Authority. Development charges for houses will increase by an average 17%, while those for apartments will rise 12%, according to the statement.
CapitaLand (CAPL SP), Southeast Asia’s biggest developer by market value, advanced 3.6% to $2.62. City Developments (CIT SP), Singapore’s second-largest homebuilder, fell 1.7% to $10.08. Keppel Land (KPLD SP), the real-estate unit of Keppel Corp. (KEP SP), climbed 5.5% to $3.09.
Global Logistic Properties (GLP SP): The operator of warehouses in China and Japan said it and the Canada Pension Plan Investment Board will each invest US$250 million ($301.2 million) over three years in a joint venture to develop logistics facilities in Japan. The stock rose 1.8% to $1.67.
Hsu Fu Chi International (HFCI SP): The China-based snack and candy maker said it will convene a shareholder meeting to approve the proposed acquisition by Nestle SA, the world’s largest food company, of a 60% stake in the company. Nestle in July offered $2.07 billion, or $4.35 a share, for the stake. Hsu Fu Chi was unchanged at $4.16.
Olam International (OLAM SP): The supplier of agricultural commodities said it bought Hemarus Industries, a sugar miller in India, for US$73.8 million ($88.9 million). Olam surged 11% to $2.59.
Yanlord Land Group (YLLG SP): The China-based homebuilder said it sold 155 residential units of Yanlord Sunland Gardens, an apartment project in Shanghai, for 1.7 billion yuan ($322 million). Yanlord gained 4% to 90.5 cents.
No comments:
Post a Comment