Singapore shares may open higher on Monday after Greek lawmakers approved an austerity bill needed to secure a second bailout and avoid a messy default.
Singapore’s benchmark Straits Times Index fell 0.71% on Friday to 2,960.00 points. Here are some stocks and factors to watch according to Reuters:
Singapore Telecommunications may be in focus after it posted a fourth consecutive fall in quarterly profit on Monday, hurt by weakness in Singapore and India.
ST Engineering said late on Friday it plans to buy satellite telecommunication firm Nera Telecommunications for $141.1 million.
First Ship Lease Trust said on Friday it had demanded the return of three chemical tankers from subsidiaries of troubled Indonesian shipping firm PT Berlian Laju Tanker, as S&P declared the company in default.
Shopping centre developer CapitaMalls Asia said more than half of its malls in China would be up and running in 2012, marking an “inflection point” for the company, which has been investing heavily to develop the projects. The company reported on Friday after-tax profit hit $456 million for the fiscal 2011 year, a rise of 8.1% compared with the previous year.
Construction firm Yongnam said its chief executive officer Seow Soon Yong is under investigation by Singapore’s Commercial Affairs Department (CAD) for possible offences related to insider trading. The company said Seow disputes the allegations by CAD and he will cooperate fully with the investigation.
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