Singapore shares may open higher on Thursday after the S&P 500 rose overnight to its highest level since the collapse of Lehman Brothers, led by bank stocks that have leapfrogged other sectors in December.
The following companies may have unusual price changes in Singapore trading today, say Bloomberg and Thomson Reuters. Stock symbols are in parentheses, and share prices are from the previous close. Singapore’s Straits Times Index gained 0.1% to 3,144.31.
Global Logistics Properties (GLP SP): The logistics company whose customers include Wal-Mart China, Deutsche Post AG’s DHL and FedEx Corp., said it agreed, through a unit, to buy 19.9% of Shenzhen Chiwan Petroleum Supply Base Co. for HK$539 million ($90.2 million). The stock gained 0.5% to $2.18.
UOL Group (UOL SP): The Singapore developer said it agreed to buy a 9.7% stake in United Industrial Corp. (UIC SP) for $320.5 million from United Overseas Bank (UOB SP), raising its stake to 42% from 32.3%. UOL climbed 0.7% to $4.62.
Financial One Corp. (FIN SP): The provider of financial services said Executive Chairman Andre John-Lee Koo is offering to buy out minority shareholders at 48.5 cents a share as part of a proposed delisting. That compares from its last traded price of 42 cents. The stock has been suspended from trading since Nov. 15 and will start trading today.
Hyflux (HYF SP): Singapore’s biggest water recycling company said it has appointed Cho Wee Peng as chief financial officer, replacing Sam Ong, who will remain as deputy chief executive officer and focus on developing the group’s business in the Middle East and Africa. The stock lost 0.4% to $2.30.
KS Energy Services (KST SP): The maker of drilling equipment for oil explorers said it will raise $16.2 million, selling 15 million shares at $1.08 to TAEL One Partners The shares were unchanged at $1.09.
Sembcorp Marine (SMM SP): The world’s second-biggest builder of oil rigs had its share-price forecast raised to $6.78 from $5.58 at BNP Paribas, which maintained its “buy” rating. The stock advanced 2.6% to $5.12.
Silverlake Axis (SILV SP): The provider of customized software solutions for banks said its controlling shareholder Intelligentsia Holding is proposing to sell up to 50 million shares in a share placement. The shares were unchanged at 33 cents.
Wilmar International (WIL SP): The world’s biggest palm-oil trader had its share-price forecast lowered to $6.73 from $7.49 at Daiwa Securities Group Inc., which maintained its rating at “outperform.” The stock tumbled 5.1% to $5.62.
Zipper maker Fuxing China (FXCG.SI) said on Wednesday it would buy three Chinese companies in the electro-plating and colour dyeing business for a total of 372 million yuan ($73.2 million), confirming a Reuters report in October.
Hu An Cable (HACH.SI), a Singapore-listed Chinese cable manufacturer, said on Wednesday it had acquired land in Jiangsu Province, China, for 21.2 million yuan ($3.2 million) for the construction of a new copper rods plant.
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