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Sept 15: Low Keng Huat, NOL, Wilmar PDF

Tags: Capitaland | City Developments | Cosco Corporation (Singapore) | First Resources | Golden Agri-Resources | Indofood Agri Resources | Low Keng Huat (Singapore) | Neptune Orient Lines | Stx Pan Ocean Co. | United Fiber System | Wilmar International

Written by The Edge   
Tuesday, 15 September 2009 08:41
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The following companies may have unusual price changes in trading today, say Bloomberg and Thomson Reuters. Share prices are from the previous close. The Straits Times index sank 1.5% to 2,639.74.

US stocks rose last night as reports of more merger activity added to a string of recent deals, suggesting investors still see value in the market after its run-up of more than 50% since March.

The Dow Jones industrial Average (.DJI) rose 0.22% to 9,626.80, while the Nasdaq Composite Index (.IXIC) rose 0.52% to 2,091.78.


Low Keng Huat (Singapore) (LKH SP): The construction company said profit in the second-quarter ended July 31 surged 247% to $20.4 million from the year before as revenue increased 133% in the same period. Its shares slipped 1.3% to 37 cents.

Neptune Orient Lines (NOL SP): Southeast Asia’s biggest container carrier said average freight in the four weeks ended Aug 21 declined 30% from the year before as it handled 7% less cargo during the period. The stock gained 1.6% to $1.90.

Developers CapitaLand and City Developments (CTDL.SI) saw sharp share price drops yesterday after the government announced measures to curb housing market speculation, and JPMorgan said in a report it now favoured REITs such as A-REIT and Fraser Centrepoint Trust over developers, with further government measures possible.

Bulk carriers: The Baltic Dry Index, which measures the cost of shipping commodities, slipped 0.7% in London yesterday, taking losses in the past two days to 1.7%.
Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, fell 2.3% to $1.25. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, sank 1.5% to $12.96.

Palm oil suppliers: Crude palm oil for November delivery dropped 3.5% in Kuala Lumpur yesterday, taking declines in the past two days to 5.2%. Golden Agri-Resources (GGR SP), the world’s second-biggest palm oil producer, declined 3.2% to 46 cents. Indofood Agri Resources (IFAR SP), the palm oil unit of Indonesia’s biggest noodle maker, dropped 3.5% to $1.67. First Resources (FR SP), an Indonesian palm oil supplier, lost 1.6% to 94 cents.
Wilmar International (WIL SP), the world’s biggest palm oil trader, was unchanged at $6.43. The company said it has sold 1.6% of Wilmar China for HK$1.9 billion ($350 million) to units of the Kuok Group. The selling price may be increased if Wilmar China raises its initial public offering price, it said.

United Fiber System (UFS SP): The Singapore-based construction company and producer of pulp and woodchips said it won an 82.2 million ringgit ($33.3 million) contract to build terrace houses in Johor Bahru, Malaysia. Its shares were unchanged at 6 cents.


 

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Sept 15: Low Keng Huat, NOL, Wilmar
Tuesday, 15 September 2009

Last Updated on Tuesday, 15 September 2009 08:48