The Straits Times Index (STI) ended 7.52 points lower or -0.23% to 3,271.05 last Friday, taking the year-to-date performance to +3.35%. The top active stocks were DBS (-0.30%), SingTel (+0.26%), OCBC Bank (-0.21%), UOB (-0.09%), Keppel Corp (+0.19%). Here are some stocks to watch this Monday morning:
Oversea-Chinese Banking Corp (OCBC) said all the pre-conditions to an agreement to buy Hong Kong's Wing Hang Bank had been satisfied, as various regulators had given their blessing to the US$4.95 billion deal.
Singapore Exchange (SGX) said in the last 12 months, more than 68,000 new Central Depository (CDP) accounts were added, bringing the total to 1.6 million accounts. Of these, a record-high 844,000, or 52% of accounts had holdings. Nevertheless, the proportion of Singaporeans invested in the stock market is low compared with other developed economies like Australia and Hong Kong.
RH Petrogas said wholly owned subsidiary RHP (Mukah), on 28 June 2014 commenced the acquisition of 550 line kilometres of 2D seismic survey in Block SK331 onshore Sarawak. The survey is expected to be completed in November 2014. Block SK331 is a large block covering an area of 11,600 square kilometres.
SMJ International Holdings said on Friday that its initial public offering has been fully subscribed or purchased, with total proceeds of about $5.67 million.
ICP is buying a 20% stake in Australian coal exploration company Tiaro Coal for A$3.05 million ($3.6 million), and selling off its 17% stake in another Australian gold exploration company for A$2 million.
Jackspeed Corporation is selling its leasehold factory in Loyang Drive for $6.5 million under its ongoing efforts to redeploy capital more efficiently.
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