Thursday, April 12, 2012

Apr 12: Bumitama Agri, Technics Oil and Gas, Lian Beng

Singapore shares could get a boost on Thursday from an overnight rebound in US equities on an encouraging start to earnings season and improved investor sentiment after a European Central Bank policymaker said bond-buying was still an option to help Spain.

The benchmark Straits Times Index fell 1.21% on Wednesday to 2,946.44 points. Here are some stocks and factors to watch:

Palm oil firm Bumitama Agri makes its trading debut, after its US$194 million ($243.8 million) initial public offering was about 31 times subscribed.

Technics Oil and Gas said its second quarter net profit rose 12% to $6.1 million from a year ago, helped by a rise in contribution from its subsidiaries.

Construction company Lian Beng said its nine-month net profit rose 10% to $40.5 million from a year ago, helped by improving gross profit margins. Revenue decreased 12% to $333.7 million, mainly due to lower construction work recognised.

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