Singapore shares are expected to open weaker on Thursday after disappointing results from major technology companies, IBM and Intel pushed US markets lower. Keppel Corp, the world’s largest rig-builder, will be in focus ahead of its first quarter results due later on the day.
Singapore’s benchmark Straits Times Index rose 0.47% on Wednesday to 3,000.58 points. Here are some stocks and factors to watch:
Keppel Land, the property arm of Keppel Corp, reported a 70.3% rise in its first quarter net profit to $141.9 million, mainly due to contributions from property trading with the completion of several projects in Singapore and China.
Neptune Orient Lines, the world’s seventh largest container shipping company in terms of capacity, priced its $400 million bond maturing in 2017 at 4.25%.
United Envirotech said it has been awarded a 216 million yuan ($42.9 million) engineering procurement and construction project to build a 100,000 cubic meter per day drinking water plant in Shandong province, China. The project is expected to be completed by end of 2013.
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