Singapore shares may open higher on Friday, tracking gains in US stocks on the back of encouraging economic data from the world’s largest economy and hopes that Greece will secure a second bailout.
The benchmark Straits Times Index fell 1.14% on Thursday to 2,977.20 points. Here are some stocks and factors to watch, according to Reuters:
Investors are likely to watch the Singapore government’s budget, which will be announced later in the day, as businesses are expected to face new measures that will make it harder for them to hire cheap foreign workers.
Sembcorp Marine, the world’s second largest rig builder, may also be in focus after announcing its subsidiary PPL Shipyard has won a US$213 million ($269 million) contract to build a jack-up drilling rig for Safin Gulf FZCO.
SIA Engineering said on Thursday it had secured a five-year contract with VietJet Air, a low-cost airline based in Hanoi. SIA Engineering will provide inventory technical management services, including spares pooling and support, as well as component repair and overhaul. The value of the contract was not disclosed.
Frasers Commercial Trust said on Thursday it agreed to acquire 50 percent of Athllon Drive Landholding Trust, which owns office complex Caroline Chisholm Centre in Australia’s Canberra, for A$83 million ($112 million).
Oil and gas services firm KS Energy said on Thursday its subsidiary had secured two contracts worth a total of around $15 million from a Chinese shipyard. KS Energy will supply equipment and ancillary services for the construction of two jack-up rigs.
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