Singapore shares may come under pressure on Tuesday, following Standard & Poor's warning that the credit ratings of top-rated European countries such as Germany may be cut in connection with the long-running euro zone debt crisis.
Benchmark Straits Times Index fell 0.26% on Monday to 2,766.23 points. Here are some stocks and factors to watch, according to Reuters:
ComfortDelGro Corp, Singapore's largest taxi operator, may be in focus after it announced an increase in its basic taxi fares, citing an increasing demand for transport services.
CapitaLand, Southeast Asia's largest property developer, plans to spin off its developed Chinese projects into two mainland-listed real estate investment trusts (REITs) when China approves listing of REITs, its CEO said on Monday. It is also eyeing acquisitions of Chinese developers and plans to invest at least $2 billion a year on mainland China.
Food company Cerebos Pacific said it would not be increasing its offer price of NZ$2.50 ($2.50) under its full takeover offer for all the equity securities in New Zealand's honey products company Comvita. It said last month its independent directors had rejected the takeover offer from Cerebos.
Oversea-Chinese Banking Corp (OCBC) has promoted Darren Tan to chief financial officer, replacing Soon Tit Koon who is retiring.
FDS Networks Group, which offers audio conferencing services, said it has signed a non-binding memorandum of understanding to acquire China Southwest Energy Corporation for $210 million as a part of a reverse take-over move.
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