Dec 13: Olam, GMG Global, Sembcorp, Hongkong Land, NOL

Singapore shares are likely to open lower today after US stocks tumbled as a European summit deal to strengthen budget discipline in the euro zone failed to restore financial market confidence.

Singapore’s benchmark Straits Times Index gained 0.26% on Monday to 2,701.72 points. Here are some stocks to watch, says Reuters:

Commodities firm Olam International may be in focus after it warned of a tightening global cocoa market in 2012, with supplies moving into deficit after this year’s record surplus drove prices too low.

A unit of Singapore rubber producer GMG Global had struck a US$410 million ($534 million) deal with Cameroon’s government to develop 45,200 hectares of palm oil and rubber plantations, officials said on Monday.

Energy, water and marine group Sembcorp Industries said on Tuesday it had opened its first industrial water reclamation plant in China. The 106 million yuan ($21.7 million) facility will supply water to customers in the Zhangjiagang Free Trade Port Zone.

Hongkong Land Holdings, the biggest landlord in Hong Kong’s Central district, said on Monday that it would spend HK$560 million ($94 million) to knock down commercial building The Forum to build a seven-floor office tower in its place.

Neptune Orient Lines, the world’s sixth-largest container shipping firm, reported on Monday a 14% fall in average revenue per container due to lower rates in major trade lanes. Separately, the president of its container shipping arm, APL, told Reuters that shipping firms are operating in an unsustainable economic environment with prospects unlikely to improve much in 2012 due to high fuel prices, low freight rates and slowing demand.