Singapore stocks may fall as Japanese electronics manufacturers continue to post losses and on findings Korean carmakers overstated claims about gas mileage. On Friday, the ST index rose 14.14 points to 3,040.75 on a volume of 1.25 billion shares. Here are some stocks and factors to watch:
Singapore Airlines, the world’s second-largest carrier by market capitalisation, posted a 54% drop in quarterly net profit on Friday as margins continued to be weak amid uncertain economic conditions in North America and Europe. SIA earned $90 million in the three months ended September, down from $194 million a year earlier.
Great Eastern Holdings, the insurance subsidiary of OCBC Bank, has posted a $619.6 million net profit for the third quarter ended 30 September 2012. This is more than 15 times higher than the $40.4 million it made in the same period last year.
StarHub posted a 27% rise in net profit to $96.2 million for the third quarter ended Sept 30, 2012, from a year ago. Operating revenue for the same period stood as $585.9 million, up 2.4%.
Cosco Corporation (Singapore) reported a net profit of $26.6 million in the three months to Sept 30, 2012 (Q3 2012), down 17% from $32.2 million in the same quarter last year (Q3 2011). Turnover fell 3% to $937 million from $970 million.
Roxy-Pacific Holdings, the specialty property and hospitality group, today announced net profit of $8.2 million for the period ended September 30, 2012 (3Q2012), 38.8% lower compared to the $13.4 million posted a year ago period (3Q2011).
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