Stocks in Singapore closed 0.3% lower on Tuesday on profit-taking. The Straits Times Index fell 10.33 points to end at 3,443.90.Here are some stocks to watch this Wednesday morning:
Indonesia on Tuesday approved the purchase by Singapore's DBS of a 40% stake in Bank Danamon, but demanded the city-state open up its financial sector before any full takeover.
Japan Foods has entered a joint venture with Ajisen Investments Ltd to develop its Japanese restaurant business in China. Japan Foods will hold 20% of the venture and Ajisen will own the rest.
Boustead Singapore, an infrastructure-related engineering services and geo-spatial technology group, posted a net profit of $27.7 million in its fourth quarter ended March 31, down 15% from the previous year. Profits were hurt by a fall in revenue from its water and wastewater engineering division.
Cosco Corp, a marine engineering and shipping group, has secured a contract valued at more than 500 million yuan ($102.6 million) from a Chinese ship owner to build a vessel, which is scheduled for delivery in the first quarter of 2015.
Offshore vessel builder Nam Cheong announced Leong Seng Keat, its executive director, has been re-designated as the chief executive officer.
China Fishery is considering increasing its offer price to above 59.70 Norwegian crowns ($12.93) per share for its bid for Peruvian fishmeal firm Copeinca.
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