Home THE DAILY EDGE Business Jan 25: Cosco, Hongkong Land, SIA, Keppel Land
Jan 25: Cosco, Hongkong Land, SIA, Keppel Land

Tags: China Sports International | Cosco Coporation (S) | Fraser & Neave | Golden Agri-Resources | Hongkong Land Holdings | Indofood Agri Resources | Keppel Land | Singapore Airlines | Stx Pan Ocean Co. | Wilmar International

Written by The Edge   
Monday, 25 January 2010 08:36
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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 dropped 1.1% to 2,819.71 last Friday.

US. stocks capped their worst three-day slide in 10 months last Friday on fears the White House’s plan to curb bank risk-taking would cut profits, and tech shares slumped after Google Inc’s results fell short of Wall Street’s most bullish forecasts.

Bulk carriers: The Baltic Dry Index, which measures the cost of shipping commodities, rose 1.1% in London on Jan 22, taking gains in the past two days to 1.5%. Cosco Corp Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, lost 1.5% to $1.32. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, dipped 1.7% to $15.40.

Palm oil suppliers: Crude palm oil for April delivery dropped 1.3% in Kuala Lumpur on Jan 22. Golden Agri-Resources (GGR SP), the world’s second-biggest palm oil producer, fell 1.8% to 54.5 cents. Indofood Agri Resources (IFAR SP), the palm oil unit of Indonesia’s biggest noodle maker, sank 4% to $2.16. Wilmar International (WIL SP), the world’s biggest palm oil trader, slipped 2.1% to $6.66.

Keppel Land (KLAN.SI) to announce its full year results after the market close today. Analysts polled by Thomson Reuters expect the company to report a net profit of $236.68 million.

China Sports International (CSPORT): The manufacturer of athletic footwear said it plans to sell 120 million new shares at 18 cents a piece through a placement. The stock was unchanged at 21 cents.

Fraser & Neave (FNN SP): Singapore’s biggest publicly traded beverage maker said it has incorporated a new subsidiary, Frasers Putney Australia, to acquire and develop a property in the country. Fraser & Neave added 0.7% to S$4.28.

Hongkong Land Holdings (HKL SP): One of the biggest landlords in the Chinese city’s central business district had its share-price forecast raised to US$4.90 ($6.88) from US$4.60 at Goldman Sachs Group Inc., which maintained its “neutral” rating. Hongkong Land was unchanged at US$4.66.

Singapore Airlines (SIA SP): The world’s second’s biggest carrier by market value had its share-price forecast raised to $17 from $16 at Morgan Stanley, which has maintained its “overweight” rating. SIA slipped 0.8% to $14.18.

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Last Updated on Monday, 25 January 2010 08:39