Shares in Singapore erased earlier gains to end flat on Monday. The Straits Times Index fell 0.14%, or 4.44 points, to end at 3,084.41. Here are some factors and company news that could affect the market this Tuesday:
Food producer China Minzhong Food Corporation which became the first Singapore-listed Chinese firm to come under attack by a short-seller, said it was reviewing a report from the short-seller and would provide its response soon. The company said trading in its shares, which fell 50% on Monday, would remain suspended.
Ezra Holdings, the offshore energy services provider, said it was not aware of and neither had it been engaged on the subject of a takeover of the company by Samsung Heavy Industries Co Ltd. Ezra said it was focused on its strategy to grow its subsea business in key areas including the North Sea, the Gulf of Mexico, Africa and Asia Pacific.
KS Energy said it would set up a new joint venture company with PT Pertamina Drilling Services Indonesia to own and operate drilling rigs.
Interra Resources said its jointly controlled entity, Goldpetrol Joint Operating Company Inc had completed drilling development well CHK 1171 in the Chauk oil field in Myanmar as an oil producer.
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