Singapore stocks may fall as disagreement among European policy-makers dampened speculation of a breakthrough in talks to resolve the region’s debt crisis.
At the end of trading yesterday, the benchmark Straits Times Index was down 53.76 points to close at 2,621.4. A total of 1.49 billion shares, valued at $1.43 billion, were traded. Losers outnumbered gainers 439 to 74.
Keppel FELS, a unit of Keppel Corp., received an order from Safin Gulf FZCO to build a jackup rig for US$199 million.
Stamford Land Corporation has signed a Memorandum of Understanding (MOU) for the sale and lease-back for three of its hotel properties: the Stamford Plaza Melbourne, Stamford Grand Adelaide and Stamford Plaza Sydney Airport hotels.
Nera Telecommunications says the company has received purchase orders from a global telecom operator for the maintenance of IP network equipment for an aggregate value of $7.4 million.
PEC has signed a contract with JGC Corporation to provide steel structure erection, piping and electrical & instrumentation works for a refinery in Singapore for an oil major. This contract together with other contracts secured recently of about $45m in total value takes the group’s total order book past the $300 million, excluding on-going maintenance contracts.
China Essence says it is still discussing refinancing of its HK$250 million zero coupon guaranteed convertible bonds due 2011 into ordinary shares of the company. At the same time, the company is in talks with DBS Bank to secure a term loan facility of up to US$40 million maturing end December 2013.
Lee Metal is selling subsidiaries LMG Indoferro, LMG Indocoke for $17.3 million because the completion of the blast furnace and coking plant is taking considerably longer than planned. LMG Indoferro and LMG Indocoke, the investment vehicles through which the Company holds a 15% stake in PT Indoferro and PT Indocoke Industry respectively.
Hong Leong Asia has set up China subsidiary Nanning Yuchai Machinery Monopoly Company in China via China Yuchai International, a subsidiary of the company. Guangxi Yuchai Machinery Monopoly Development Co., a unit of China Yuchai, together with its subsidiary Yulin Yuchai Machinery Industry Development Co. hold respectively 90% and 10% equity interests in Nanning Yuchai.
Wee Hur (WHUR SP) Holdings has appointed Ewe Tuck Foong as CFO after th resignation of the previous financial officer.
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