Singapore's shares closed higher last Friday. The ST Index ended up 28.91 points, or 0.94%, at 3,107.11. Here are some stocks and factors to watch this Friday morning:
DBS, Southeast Asia's largest bank, said on Monday it plans to acquire a 30% stake in Marina Bay Financial Centre Tower 3, a prime office building in the city-state. DBS had signed an agreement with Choicewide Group, a joint venture of Cheung Kong (Holdings) and Hutchison Whampoa, to buy a 30% stake in Central Boulevard Development and its associated loan for around $1.035 billion. DBS can also take up Choicewide's remaining 3.3% stake in Central Boulevard, a consortium that develops the Marina Bay office complex, and its associated loan for around $115 million.
Resorts World Sentosa (RWS), operated by Genting Singapore, has said it is expecting 17 million visitors for 2013 and plans to have more rooms to house guests. It is looking at building more hotels away from the integrated resort to cater to cost-conscious travellers.
Australand, the developer 59% owned by CapitaLand, said it received an unsolicited offer from GPT Group to acquire its Investment Property Portfolio and Commercial and Industrial business, leaving Australand Holdings a listed entity with a residential business.
k1 Ventures says 1.43% owned McMoRan Exploration Company has signed a definitive agreement with Freeport-McMoRan Copper & Gold Inc. whereby Freeport-McMoRan will acquire McMoRan for US$14.75 in cash and 1.15 units of a royalty trust for each share. The royalty trust will hold a 5% overriding royalty interest in future production from McMoRan’s existing ultra-deep exploration properties.
Stratech Systems said it has entered into a joint venture with The Garrett Group Asia (TGGA) to establish Stratech Finance Pte. Ltd. Stratech Finance will be incorporated in Singapore with the objective of promoting the sales of Stratech products such as the iFerret intelligent Airfield/Runway Surveillance and FOD (Foreign Object & Debris) Detection System by providing clients with long-term and flexible financing for their acquisition.
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