Dec 2: SIA, Olam, CapitaMalls Asia

Singapore shares may see a weak start on Friday after most indices on Wall Street headed lower overnight. Investors have became more cautious ahead of a key US jobs report later in the day.

The benchmark Straits Times Index rose 2.2% on Thursday to 2,761.88 points.

Here are some stocks and factors to watch:

Scoot, Singapore Airlines’ wholly-owned long-haul budget carrier, will fly to Sydney from the middle of next year. Scoot will fly once daily from Changi Airport Terminal 2 to Sydney. Scoot will fly once daily from Changi Airport Terminal 2 to Sydney. Scoot will launch the flights with a fleet of four Boeing B777-200 aircraft. The airline will fly once daily from Changi Airport Terminal 2 to Sydney. It will offer two cabin classes.

Commodity firm Olam International may be in focus after it said it plans to spend US$50 million ($64.2 million) to expand its wheat milling facility in Nigeria. It also said it will invest US$49.2 million to set up a irrigated paddy farming and rice milling facility in the country.

First Ship Lease Trust said it has entered into a loan agreement with its syndicate of eight lenders for a six-year amortising term loan worth $479.6 million.

Qingmei Group, which makes sports shoe soles, said it has appointed Jackson Tso Sze Wai, its current financial controller, to take over as the firm's new chief financial officer from Jan 1. He replaces Nelson Au-Yeung Yu Ching.

CapitaMalls Asia says it has committed $1.57 billion dollars to the development of the Jurong Gateway site, together with its joint venture partners. CapitaMalls Asia, CapitaMall Trust and CapitaLand, will contribute to the unitholder loans in proportion to their respective equity interests. The interest payable on the unitholder loans will be pegged to prevailing market rates.

CEL Development, the wholly-owned subsidiary of Chip Eng Seng Corporation, has submitted the highest bid of $189 million ($789 psf/plot ratio) for the hotel site at Jalan Bukit Merah/Alexandra Road at the close of tender on Dec 1. CEL’s bid is 2.7% higher than the second highest bid of $184 million ($768 psf/plot ratio) submitted by Forward Land Pte Ltd.

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