The Straits Times Index (STI) on Tuesday ended 9.25 points or 0.28% lower to 3,243.99, taking the year-to-date performance to +2.50%. The top active stocks were DBS (-0.27%), Keppel Corp (-0.96%), SingTel (-0.80%), UOB (-0.54%) and Global Logistic (+1.87%). Here are some stocks and factors to watch this Wednesday morning:
Golden Ocean Group and Nasdaq-listed Knightsbridge Shipping have agreed to merge. Knightsbridge will be the surviving legal entity but the combined company will be renamed Golden Ocean Group after the merger is completed. The combined company would become one of the world’s leading dry bulk companies with a modern fleet of 72 vessels, of which 36 are newbuilds under construction. Golden Ocean Group last closed at $1.80.
Grand Banks Yachts says the company will be removed from the SGX Watch-List with effect from Oct 9. The maker of luxury yachts had announced its first full-year profit after five consecutive years of losses from 2009. Grand Banks Yachts closed 6.4% higher at 25 cents.
Boustead Singapore says wholly-owned subsidiary Boustead Projects has won a contract in excess of $20 million to design and build the Airbus Asia Training Centre. Boustead Singapore closed 0.3% higher at $1.75.
Tat Hong Holdings is exploring a possible spin-off and listing of part or all of its tower crane rental business in China. Tat Hong closed 1.3% lower at 75.5 cents.
Keppel Corp's subsidiary Keppel Offshore & Marine says units Keppel Shipyard and Keppel Nantong Shipyard Co. have won contracts from repeat customers worth a total of $153 million. Keppel closed 0.9% lower at $10.31.
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