Home THE DAILY EDGE Business Jan 12: Olam, Qian Hu Corp., Thomson Medical
Jan 12: Olam, Qian Hu Corp., Thomson Medical

Tags: Cosco Coporation (S) | Noble Group | Olam International | Qian Hu Corporation | Stx Pan Ocean Co. | Technics Oil & Gas | Thomson Medical Centre | United Overseas Bank | Wilmar International

Written by The Edge   
Tuesday, 12 January 2010 09:03
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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 added 0.4% to 2,933.53.

US industrial shares lifted the Dow and S&P 500 yesterday to new 15-month highs after China bolstered expectations the world economy would strengthen, but the Nasdaq fell on profit-taking.

Bulk carriers: The Baltic Dry Index, which measures the cost of shipping commodities, gained 0.3% in London on yesterday, snapping losses of 4% in the past three days. Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, climbed 4.6% to $1.37. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, rose 3.4% to $16.02.

Noble Group (NOBL SP): The Hong Kong-based commodity supplier has its share-price forecast raised to $3.96 from $3.3 at Nomura Holdings Inc., which maintained its “buy” rating. Noble gained 2.4% to $3.39.

Olam International (OLAM SP): The supplier of agricultural commodities said it agreed to buy 99.5% of Crown Flour Mills, a Nigerian wheat miller, and other assets for US$107.6 million ($149 million). Olam added 0.4% to $2.71.

Qian Hu Corp. (QIAN SP): The supplier of ornamental fish said full-year net income in rose 8.3% from a year earlier to S$.6.5 million. Qian Hu gained 3% to 17 cents.

Technics Oil & Gas (TGH SP): The Singapore-based provider of engineering services to the oil and gas industry said it has bought a 55% stake in Wecom Engineering Pte, a maker industrial pipes, for $3.6 million. Technics Oil & Gas added 0.9% to 55.5 cents.

Thomson Medical Centre (THOM SP): The Singapore-based hospital operator said first-quarter net income climbed 24% from a year ago to $3.53 million. Thomson Medical gained 0.7% to 69 cents.

United Overseas Bank (UOB SP): Singapore’s second-biggest lender had its share-price forecast raised to $23.45 from $19.55 at Bank of America-Merrill Lynch, which maintained its “buy” rating. United Overseas Bank lost 0.2% to $19.88.

Wilmar International (WIL SP): The world’s biggest palm oil trader had its share price forecast raised to $8.20 from $7.20 at Nomura, which maintained its “buy” rating. The stock climbed 3% to $7.11.

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Last Updated on Tuesday, 12 January 2010 09:05