March 6: Noble Group, Singapore Exchange, Swiber, Hi-P International

Singapore shares may open lower on Tuesday, tracking U.S. stocks which retreated overnight after China cut its growth target for 2012, and the world’s second-largest rig builder Sembcorp Marine (SCMN.SI) is likely to be in focus.

Singapore state investor Temasek Holdings (TEM.UL) is selling up to $330 million worth of shares in Sembcorp Marine, two sources with direct knowledge of the deal said on Monday.

Singapore’s benchmark Straits Times Index  edged 0.06% lower on Monday to 2,991.80 points. Here are some stocks and factors to watch:

 

Gloucester Coal’s (GCL.AX) board of directors will unanimously urge shareholders to back a proposed merger with Yanzhou Coal Mining Co’s Australian unit, Yanzhou Coal said on Monday. Gloucester’s major shareholder Noble Group has already expressed support for the proposed deal.

Singapore Exchange said on Monday the daily average value of securities traded on the bourse rose 41% in February from the previous month. 

Swiber said on Tuesday it had won contracts worth around US$36 million ($45 million) for vessel chartering services in the Gulf of Mexico and Southeast Asia. With the latest wins, Swiber’s order backlog rose to over US$1.1 billion.

Hi-P International said on Monday it had accepted an offer of a US$30 million revolving credit facility from the Hongkong and Shanghai Banking Corp. The company said it intends to apply it for general working capital purposes.

 

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