Home THE DAILY EDGE Business Nov 26: Cerebos, SembCorp Marine, STX, Swiber
Nov 26: Cerebos, SembCorp Marine, STX, Swiber

Tags: Cerebos Pacific | Cosco Corporation (Singapore) | Keppel Corporation | Mercator Lines (Singapore) | Noble Group | Q & M Dental Group | Sembcorp Marine | Singapore Airport Trml Svcs | Stx Pan Ocean Co. | Swiber Holdings

Written by The Edge   
Thursday, 26 November 2009 08:51
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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. Singapore’s Straits Times Index gained 0.5% to 2,792.84.

US stocks rose in light trading volume last night, supported by data that pointed to stabilisation in the labour and market markets. Trading volume was light one day before the Thanksgiving holiday.

Bulk carriers: The Baltic Dry Index, which measures the cost of shipping commodities, dropped 2.4% in London yesterday, taking losses in the past four days to 9.2%. Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, gained 1.8% to $1.12. Mercator Lines Singapore (MRLN SP), an Indian bulk carrier, sank 4.6% to 31 cents. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, climbed 7.5% to $14.86.

Commodities firm Noble Group (NOBG.SI) said its Australian unit Gloucester Coal has completed the first phase of a strategic review that has identified opportunities to boost coal output in the near-term.

Cerebos Pacific (CER SP): The maker of health tonic Brands Essence of Chicken said it had a full-year net profit of $82.8 million, compared with $81 million a year ago. Cerebos gained 0.6% to $3.55.

Keppel Corp. (KEP SP): Keppel Integrated Engineering, a unit of the world’s biggest oil-rig builder, said it will buy First DCS Pte, operator of district cooling systems in Singapore industrial parks, for $88 million. Keppel Corp. advanced 2.2% to $8.66.

Q & M Dental Group Singapore (QNM SP): The operator of dental clinics will start trading today. The company sold 74.1 million shares at 27 cents each, raising gross proceeds of $20 million.

Singapore Airport Terminal Services (SATS SP): The ground handling services provider partly owned by Singapore Airlines was rated “overweight” with a share-price estimate of $2.90 in new coverage by HSBC Holdings Plc. SIA lost 0.4% to $2.52.

SembCorp Marine (SMM SP): The world’s second-largest oil-rig builder, agreed to set up a venture with Kakinada Seaports to tap into growing demand for oil exploration in India. Singapore-based Sembcorp Marine will, through its Sembawang Shipyard unit, own 19.9% of the venture and has an option to increase its stake to 40%, the company said. SembCorp Marine added 1.1% to $3.62.

Swiber Holdings (SWIB SP): The provider of offshore engineering services to the oil and gas industry said it secured a US$77 million ($106 million) contract to provide offshore installation works for a gas pipeline project in Myanmar. Swiber rose 1.2% to 87 cents.

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Last Updated on Thursday, 26 November 2009 08:54