Singapore shares were expected to open higher on Wednesday after Wall Street rose overnight as solid earnings and a flurry of merger activity underpinned a steady upward trend that reinforced investor optimism for the coming year.
The following companies may have unusual price changes in Singapore trading today. Stock symbols are in parentheses, and share prices are from the previous close. Singapore’s Straits Times Index gained 0.2% to 3,139.85.
Commodity suppliers: The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, gained 0.8% in New York yesterday, extending its three- day advance to 3%.
Noble Group (NOBL SP), a Hong Kong-based commodities supplier, gained 1.5% to $2.07. Olam International (OLAM SP), a Singapore-based supplier of agricultural commodities, increased 2% to $3.10.
Palm-oil producers: Crude palm-oil futures for March delivery climbed 1.2% yesterday in Kuala Lumpur, extending its two-day advance to 1.7%.
Golden Agri-Resources (GGR SP), the world’s second- biggest palm-oil producer, increased 1.3% to 76.5 cents. First Resources (FR SP), an Indonesian palm-oil producer, advanced 2.8% to $1.45. Indofood Agri Resources (IFAR SP), the palm-oil unit of Indonesia’s biggest noodle maker, gained 1.9% to $2.73.
Food Junction Holdings (FOOD SP): The Singapore-based food-court operator said its subsidiary signed an agreement to lease commercial space in Lippo Plaza in Shanghai, China, where it plans to open a restaurant. The stock was unchanged at 22 cents.
Sembcorp Marine (SMM SP): The world’s second-biggest oil rig builder said it won an order two build two jack-up rigs, valued at US$400 million ($525.2 million), from Noble Corp., the world’s third-largest deep-water oil and gas driller. Sembcorp Marine gained 1.4% to $4.99.
Sound Global (SGL SP): The provider of waste-water treatment services in China said it appointed Jin Zhijun as its new chief executive officer. The shares slipped 1.2% to 82 cents.
Wilmar International (WIL SP): The world’s biggest palm-oil trader said it will invest 889.2 million yuan ($176 million) in a joint venture with Kerry Properties (China) and Shangri-La China to develop a hotel in China’s Liaoning province. Wilmar lost 0.5% to $5.92.
United Fiber System (UFSL.SI), a firm with forestry and pulp as well as construction businesses, said on Tuesday it had terminated a joint venture agreement with TSGA Asia, an affiliate of the Sandi Group, to construct a social housing project in Libya.
Hengxin Technology (HNGX.SI), which manufactures telecommunications cables, said the final number of offer shares in its placing for its dual listing on the Hong Kong Stock Exchange was 88.8 million shares. The firm expected to debut in Hong Kong on December 23 and raise net proceeds of around HK$95 million ($16 million).
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