Singapore share prices closed weaker on Monday with the Straits Times Index down 27.90 points at 3,029.61. Volume was 2.36 billion shares valued at $1.35 billion. Losers led gainers 315 to 126. Here are some stocks and factors to watch:
Virgin Australia Holdings said alliance partner Singapore Airlines will buy a 10% stake in the firm or A$105 million ($132 million), helping it compete with Qantas Airways in the lucrative Australian market.
Virgin also agreed to provide a lifeline for Singapore’s struggling Australian budget unit, by agreeing to acquire 60% of Tiger Australia for A$35 million.
Tiger Airways reported a second quarter net loss of $18.3 million, compared to a loss of $49.9 million a year ago.
CapitaLand, Southeast Asia’s largest property developer, said its third-quarter net profit rose 85.1% to $148.5 million, boosted by higher operating income and portfolio gains.
CDL Hospitality Trusts, which owns hotels, said its distribution per unit for the third quarter was 2.72 cents, compared to 2.77 cents a year ago, hurt by slightly lower revenue per available room for its Singapore hotels.
It said it was looking for acquisition opportunities in the hospitality sector in the next 12 months.
Starhill Global said its distribution per unit for the third quarter rose 11% to 1.11 ents from a year ago, helped by strong property income growth for its Singapore shopping malls.
Global Logistic Properties, which owns warehouses in China and Japan, said it has signed a deal to lease 21,000 square metres of warehouse space in greater Tokyo to retailer Hennes & Mauritz.
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