Home THE DAILY EDGE Business Feb 1: SGX, K-REIT, SIA, ST Engineering
Feb 1: SGX, K-REIT, SIA, ST Engineering

Tags: Cosco Corporation (Singapore) | K-Reit Asia | Singapore Airlines | Singapore Exchange | Singapore Post | ST Engineering | Stx Pan Ocean Co. | Tpv Technology

Written by The Edge   
Monday, 01 February 2010 08:37
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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 lost 0.5% to 2,745.35.

US stocks dropped last Friday, as worries about fiscal turmoil in Europe and a drop in technology stocks pushed the S&P 500 to its worst monthly decline since February 2009.

Bulk carriers: The Baltic Dry Index, which measures the cost of shipping commodities, sank 3.9% in London on Jan 29, taking losses in the past four days to 12%. Cosco Corp Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, dropped 3.1% to $1.26. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, lost 0.4% to $14.64.

Singapore Exchange (SGXL.SI) said this morning its new bunker fuel oil futures contract will start trading on Feb 22.

K-REIT Asia (KREIT SP): The office landlord part-owned by Keppel Land (KPLD SP) said it has agreed to buy a 50% stake in an office building in Brisbane, Australia for $208.6 million ($148.1 million). K-REIT Asia slid 3.6% to $1.06.

Singapore Airlines (SIA SP): The global airline industry will take at least three years to recover from a travel slump caused by the worst recession in six decades, said Giovanni Bisignani, chief executive of the International Air Transport Association. SIA, the world’s second-biggest carrier by market value, was little changed at $13.82.

Singapore Post (SPOST SP): The biggest postal service provider in the city state said third-quarter profit rose 20.6% from a year earlier to $44.1 million. Singapore Post dropped 1% to $1.01.

Singapore Technologies Engineering (STE SP): Asia’s biggest aircraft maintenance company said it has won a $58.8 million contract for the demilitarisation of ammunition in an African country. ST Engineering slid 1% to $3.09.

TPV Technology (TPV SP): The world’s biggest contract maker of computer monitors, said shareholder China Electronics Corp. agreed to boost its investment in the company, a move that will trigger a takeover offer. China Electronics said its CEIEC (H.K) unit and Japan’s Mitsui & Co. plan to offer HK$5.20 (94.3 cents) apiece for outstanding TPV shares. TPV was halted from trading on Jan 29 and last traded down 0.6% at 83 cents.

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Last Updated on Monday, 01 February 2010 11:17