Singapore shares may open higher on Friday following gains on Wall Street overnight after positive jobless claims data showed the US labour market remains on the mend.
The benchmark Straits Times Index fell 0.91% to 2,968.34 on Thursday to 2,968.34 points. Here are some stocks and factors to watch, according to Reuters:
United Overseas Bank, the smallest of Singapore's three banking groups, will be in focus after it reported a 21% fall in quarterly profit due to a lack of one-off gains and as it booked losses on its European debt exposure.
Sembcorp Marine, the world's second largest rig-builder, reported a larger-than-expected 26% fall in quarterly net profit as it booked fewer higher-margin projects. It earned $177 million in net profit excluding exceptional items for the three months ended December compared to $239.4 million a year ago.
DBS said some customers have been hit by unauthorised withdrawal of funds in Singapore through the use of the bank's automated teller machines (ATM), resulting in a total lost of $23,000. However the largest bank in Southeast Asia said the incident was not a result of any new card skimming activity but a residual effect of a scam that hit the lender at the end of last year.
Singapore Technologies Engineering posted a 7.4% rise in its full year net profit to $527.5 million, and had a record high order book of $12.3 billion. Barring unforeseen circumstances, the company said it expects to achieve higher revenue and profit before taxes this year.
Shipbuilder Cosco Corp said its full year net profit fell 44% to $139.7 million, hurt by higher costs in its shipyard operations and lower contributions from dry bulk shipping.
Contract manufacturer Hi-P International said its fourth quarter net profit plunged 73.7% to $9.4 million from a year ago despite booking revenue growth, as it was hurt by pricing pressure, higher material and labour costs and higher depreciation of certain assets.
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