Dec 27: Wilmar International, Hiap Seng Engineering, STX OSV, China Minzhong

Singapore shares are expected to trade in a narrow range on Tuesday due to the closure of many global markets for Christmas holidays and as investors stay on the sidelines during the last week of 2011.

Singapore's benchmark Straits Times Index <.FTSTI> gained 0.44% on Friday to 2,676.47 points. European and U.S. markets as well as many Asian bourses were closed on Monday for Christmas holiday.

Singapore budget carrier Tiger Airways (TAHL.SI) may be in focus as it expects its Australian unit to operate 10 aircraft by the middle of next year, up from seven aircraft currently, the Straits Times reported.

 

Tiger Airways has also made progress in its partnerships with airlines in Indonesia and the Philippines, its CEO Chin Yau Seng said.

               

Singapore palm oil firm Wilmar International said on Friday its subsidiary had agreed with the Kuok Group to acquire the remaining 1.61% interest in Wilmar China Limited for a total of HK$1.933 billion ($321.6 million).

 

Singapore Exchange said on Friday it will add 15 new American Depositary Receipts to its international quotation board on Dec 29. All 15 new ADRs are of companies with at least US$1 billion ($1.29 billion) market capitalisation, SGX said. 

 

Hiap Seng Engineering said on Friday its subsidiary had entered a strategic alliance with Offshore Oil Engineering Company, a subsidiary of China National Offshore Oil Corporation, one of China's largest producers of offshore crude oil and natural gas.

    

Singapore-listed offshore vessel builder STX OSV said on Friday it had secured a new contract worth around 200 million Norwegian crowns ($43.3 million) to construct a carrier, which can transport fish feed to fish farms, for Eidsvaag AS.

 

Singapore-listed vegetable firm China Minzhong said on Tuesday it had opened a new industrial park in China, which has around three times the company's current processing capacity.

 

The firm also said it sees no slowdown in demand for vegetables so far and expects its export order book to be higher in 2012 fiscal year compared with 2011 fiscal year.