Singapore shares may open slightly higher on Tuesday after US stocks rose overnight, but gains may be capped ahead of a euro zone finance ministers’ meeting this week to approve a second bailout for Greece.
Singapore’s benchmark Straits Times Index rose 0.55% on Monday to 2,976.34 points. Here are some stocks and factors to watch, according to Reuters:
CapitaLand, Southeast Asia’s largest property developer, may be in focus after it posted a 20 % fall in fourth quarter net profit due to lower earnings from developments and smaller portfolio gains. The developer also said its residential business in Singapore remains healthy and it was positive about China’s property market in the long-term.
Insurance company Great Eastern said its fourth quarter net profit fell 19% to $68.9 million from a year ago, hurt by lower earnings from its insurance operations.
Precision engineering firm Amtek Engineering said its net profit for October-December tumbled 39% to US$8 million from a year ago, due to lower sales of its mass storage products as a result of supply chain disruptions caused by floods in Thailand.
DBS Group, Southeast Asia’s largest bank, said it has priced the issue of $1 billion fixed rate subordinated notes which are due in 2022. The notes will initially bear a fixed coupon of 3.3% per annum with interest paid twice a year.
Singapore Technologies Engineering said its marine arm ST Marine, has won two shipbuilding contracts worth about $75 million from a wholly-owned subsidiary of Swire Pacific.
Swiss drug firm Lonza Group confirmed on Monday that it was in talks with the South African government to set up a joint venture to manufacture the main chemicals used in drugs to treat HIV.
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