Shares in Singapore closed firmer on Tuesday in line with most Asian markets. The Straits Times Index rose 8.48 points, or 0.26%, to 3,245.45. Here are some stocks to watch this Tuesday morning:
Soilbuild Business Space REIT, which owns seven business and industrial properties in Singapore, plans to raise as much as $469 million in an initial public offering, it said in a prospectus on Tuesday.
Oil exploration firm Rex International said the public tranche of its initial public offering of 2.5 million shares priced at $0.50 each was 153 times subscribed. Its shares were expected to start trading on the Catalist board of the Singapore Exchange at 9 am on Wednesday.
Singapore oil and gas services provider Rotary Engineering said it had won engineering, procurement and construction contracts worth $200 million in Singapore and Saudi Arabia.
Singapore transport operator SMRT posted a 55% fall in first-quarter net profit at $16.3 million from a year earlier, mainly because of an increase in operating expenses. The next 12 months will be challenging for the company due to the lack of fare adjustments and its continued absorption of fare concessions, the company said.
Singapore's Mapletree Greater China Commercial Trust posted distribution per unit of 1.73 cents for the period from its listing in March to end-June. This was 8.3% higher than its forecast of 1.60 cents, helped by improved rents.
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