Singapore stocks may fall after Japanese machinery orders fell and Standard & Poor’s downgraded Spain’s debt rating.
The blue-chip Straits Times Index ended 1.05% or 32.10 points lower at 3,033.81 on Wednesday. In the broader market, losers outnumbered gainers 275 to 126. Overall volume traded was 1.64 billion shares. Here are some stocks and factors to watch:
The Fraser and Neave board said a Thai takeover offer for the Singapore drinks and property group is "not compelling but fair". However, in a circular issued by F&N on Wednesday evening, directors who are shareholders said they did not intend to accept the offer -- putting pressure on the bidders to raise the price.
Property developer Overseas Union Enterprise confirmed reports that it had made a $1.4 billion bid for the hospitality and serviced residence business of Fraser and Neave. It said the offer was in line with its long-term goal of growing its business and hospitality was one of its core areas.
Dynasty Real Estate Investment Trust, which is managed by a unit of property fund manager ARA Asset Management and owns Chinese assets, is offering 893.9 million and 901.3 million units to investors at 4.40 to 4.70 yuan ($0.86–0.92) a unit, according to a prospectus filed on Wednesday for what will be Singapore's first yuan-denominated initial public offering.
Singapore Telecommunications (SingTel) announced that it has secured the broadcast rights to all 380 Barclays Premier League (BPL) matches for the next three seasons commencing August 2013. These rights were acquired on a non-exclusive basis.
Tiger Airways saw its passenger load factor in September 2012 rise 2 percentage points to 80% from a year earlier. The budget carrier booked 552,000 passengers in the month, up 40% from 395,000 a year ago, while traffic - measured in revenue passenger-kilometres - improved 36% to 850 year-on-year.
ST Engineering said its aerospace arm ST Aerospace secured new contracts worth about $590 million in the third quarter of this year.
STX OSV Holdings on Wednesday said it has secured contracts for two Offshore Subsea Construction Vessels (OSCVs) from Oslo-listed Siem Offshore Inc.
Nam Cheong said its wholly-owned subsidiary, Nam Cheong International Ltd, has secured sale contracts worth US$52.1 million (S64 million) for two platform-supply vessels.
Tiong Seng Holdings said its wholly-owned subsidiary, Tiong Seng Contractors, has been awarded a $93 million contract to build 97 terrace houses in Serangoon Gardens.
Lonza said it has been awarded a five-year agreement worth US$9.5 million ($6.15 million) by the National Institutes of Health Center for Regenerative Medicine based in Bethesda, Maryland.
Lian Beng Group said its net profit for the fiscal first quarter ended Aug 31 decreased 44.9% year-on-year to $10.51 million, down from $19.08 million.
Grand Banks Yachts will keep all four directors on its board, with resolutions to remove them having been defeated at an extraordinary general meeting (EGM) on Wednesday.
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