Singapore shares may open higher on Tuesday after Wall Street rose overnight as US housing data and sentiment for March remained at its highest level since June 2007.
Singapore’s benchmark Straits Times Index fell 0.68% on Monday to 2,990.09 points. Here are some stocks and factors to watch, according to Reuters:
Global Logistic Properties may be in focus as it announced a 50:50 joint venture with Japanese real estate company, Mitsui Fudosan Co., to develop a multi-tenant logistics facility with a gross floor area of 121,000 square meters in Ichikawa City, Chiba prefecture (Greater Tokyo), Japan.
Shipbuilder STX OSV said it secured two separate contracts worth an approximate total of 1.15 billion Norwegian Crown ($252.7 million) for the construction of an advanced subsea support vessel and an offshore subsea construction vessel. Delivery of the former vessel is scheduled for the first quarter of 2014 and the second quarter of 2013 for the latter.
Singapore sterngear equipment manufacturer and supplier Mencast will issue a total of 22.5 million new shares to four subscribers at $0.53 -- a discount of about 5.4% to the weighted average trading price of shares traded on March 14. The issue represents 11.8% of the total existing share capital of the company. Mencast shares resume trading on Tuesday after having halted its trading on Thursday.
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