Singapore shares could rise on Thursday, following gains on Wall Street overnight, helped by a positive U.S. private sector jobs report and optimism Greece will complete its debt restructuring.
Singapore Technologies Engineering could be in focus after it said its land systems arm, ST Kinetics, has received an order from India’s Ordnance Factory Board prohibiting the company from entering into any contract with it for 10 years.
ST Kinetics has never won any defence contracts in India and is seeking legal advice, its parent said.
Singapore’s benchmark Straits Times Index fell 0.64% on Wednesday to 2,913.16 points. Here are some stocks and factors to watch:
Global Logistic Properties, which owns warehouses in China and Japan, said it is reviewing plans to establish a real estate investment corporation in Japan, but nothing has been decided.
Treasury China Trust, which owns commercial properties, said it has received approval from Chinese authorities to establish an equity investment management business in Shanghai, allowing it to raise domestic yuan capital in a private equity format.
Watch retailer Cortina Holdings said it has agreed to buy seven units located at an office and retail development, the Adelphi, in Singapore for $20 million to house its headquarters.
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