Home THE DAILY EDGE Business Dec 22: Hongkong Land, China Aviation Oil, Popular Holdings, Aspial
Dec 22: Hongkong Land, China Aviation Oil, Popular Holdings, Aspial

Tags: Aspial Corporation | China Aviation Oil (S) Corp | Cosco Coporation (S) | Golden Agri-Resources | Hongkong Land Holdings | Indofood Agri Resources | Mercator Lines (Singapore) | Oceanus Group | Popular Holdings | Straits Asia Resources | Stx Pan Ocean Co. | Wilmar International

Written by The Edge   
Tuesday, 22 December 2009 09:03
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The following companies may have unusual price changes in trading today, say Thomson Reuters and Bloomberg. Singapore’s Straits Times Index fell 0.6% to 2,786.81.

US stocks rose last night, with the Nasdaq hitting 15-month high after a healthcare reform bill advanced in the senate and brokerages upgraded the Dow components on improving profit forecasts.

Hongkong Land Holdings (HKL SP): One of the biggest landlords in Hong Kong’s financial centre named John Witt as chief financial officer with effect from April 1, 2010. The stock was unchanged at $4.7.

China Aviation Oil (Singapore) Corp. (CAO SP): The nation’s largest trader of jet fuel said it signed an interim trading agreement for 2010 with BP Singapore Pte., allowing it to supply the aviation fuels to China Aviation. The stock advanced 0.9% to $1.11.

Popular Holdings (POP SP): The book retailer said it has received an approval from Singapore Exchange Securities Trading for an offer of additional shares. The stock was unchanged at 18 cents.

Aspial Corp (ASPA.SI) said yesterday that its chief executive is being investigated for possible breach of the city-state’s securities law.

Bulk carriers: The Baltic Dry Index, which measures the cost of shipping commodities, declined 3.2% in London yesterday, taking losses in the past 11 days to 23%. Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, was unchanged at $1.07. Mercator Lines Singapore (MRLN SP), an Indian bulk carrier, fell 1.7% to 29.5 cents. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, rallied 3.8% to $14.3.

Palm oil suppliers: Crude palm oil for March delivery fell 2.5% in Kuala Lumpur yesterday. Golden Agri-Resources (GGR SP), the world’s second-biggest palm oil producer, fell 1% 48 cents. Indofood Agri Resources (IFAR SP), the palm oil unit of Indonesia’s biggest noodle maker, slid 0.9% to $2.12. Wilmar International (WIL SP), the world’s biggest palm oil trader, lost 0.5% to $6.42.

Oceanus Group (OCNUS SP): The supplier of Japanese abalone obtained an approval from Singapore Exchange Securities Trading to list as many as 100 million new shares in the market, Oceanus said in a release. The stock climbed 7.1% to 37.5 cents.

Singapore’s Straits Asia Resources (STRL.SI) has signed a five-year US$380 million ($534 million) debt financing to fund its working capital and expansion of its coal production, the company said yesterday.

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Last Updated on Wednesday, 23 December 2009 09:29