Singapore shares are expected to open stronger as Asian markets rose in early trade after China boosted lending capacity, while Oversea-Chinese Banking Corp is in the limelight following better-than-expected results.
Singapore’s benchmark Straits Times Index rose 0.79% on Friday to 3,000.59 points. Here are some stocks and factors to watch according to Reuters:
OCBC, Singapore’s second-biggest lender reported an 18% rise in quarterly profit, buoyed by strong loan growth.
SBS Transit, ComfortDelgro Corp, SMRT Corp: Singapore transport operators may be in focus after the Singapore government said it will spend $1.1 billion to help bus operators increase the size of their fleets. The city-state will also expand its railway networks.
SingTel said on Monday its Australian subsidiary, Optus Mobile, had agreed to acquire Vividwireless Group from Network Investment Holdings for A$230 million ($309 million).
Commodities firm Olam International said on Monday it had appointed DBS Bank, J.P. Morgan and UBS AG as joint lead managers and joint bookrunners for the firm’s planned issue of perpetual capital securities denominated in Singapore dollar.
Raffles Medical said on Monday its 2011 net profit rose 11.3% to $50.4 million from a year earlier, partly helped by improved operating efficiency, higher patient load, the recruitment of more specialist consultants and a wider range of medical specialties. Raffles Medical may also benefit from Singapore’s plan to double yearly expenditure on healthcare to $8 billion from the current $4 billion over the next five years.
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