Singapore stocks may fall on global economic woes and escalating Gaza crisis.
The ST index fell 32.11 points on Thursday to 2,945.92 on a volume of 2.66 billion shares.Here are some stocks and factors to watch:
Singapore said economic growth this year will be at the lower end of its forecast and the expansion in 2013 may hold near a three-year low, as easing demand for its goods weighs on expansion. The economy will grow 1% to 3% in 2013 after expanding about 1.5% this year, the Trade Ministry said in a statement today. It had previously forecast growth of as much as 2.5% in 2012.
A consortium led by Overseas Union Enterprise launched a $13.1 billion bid for Fraser and Neave (F&N), trumping a takeover offer from Thailand’s third-richest man for the Singapore conglomerate. The consortium is offering $9.08 per share for F&N, beating the Thai offer of $8.88 a share. The new offer, made at a discount to F&N’s last traded price of $9.13, values the company in the middle of the $11.9 billion-16.1 billion range estimated by F&N’s independent financial adviser, JP Morgan.
Singapore Airlines says passenger load factor (PLF) at the airlines edged up to 77.8% in October from 76.7% a year ago, while cargo load factor fell to 63.9% from 66.3%.
Triyards Holdings said it has secured a US$90 million ($110 million) contract for a 450-feet self-elevating mobile offshore platform service unit (SEU).
Property sector: Developers sold 1,948 private homes, excluding exective condos (ECs), in October 2012, down 25.7% from the 2,621 units they sold in the preceding month. However, the October sales figure was 39.9 per cent higher than the 1,392 units sold by developers a year ago. These figures were released by Urban Redevelopment Authority on Thursday, Nov 15.
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