Singapore’s benchmark Straits Times Index (.FTSTI) rose 0.7% to close at 2,753.63 points yesterday. US stocks rose last night after a pledge by European leaders to support debt-laden Greece eased fears of a broader euro zone crisis, and upbeat data from China spurred mining and material stocks.
Here are some stocks to watch:
Olam International, the producer and trader of agricultural commodities, reported a 54% increase in second-quarter profit as a global economic rebound helped fuel an increase in demand for food. Net income climbed to $158.9 million in the three months ended Dec 31 from $103.4 million a year earlier. Revenue increased 28% to $2.84 billion.
CapitaLand (CATL.SI), Southeast Asia’s biggest developer, today a more-than-five-fold rise in fourth quarter net profit, helped by a massive one-time gain from the listing of its shopping mall arm. CapitaLand earned $886 million in the three months ended Dec 31, up from a revised $168 million a year earlier.
Fraser and Neave reported revenue of $1.46 billion for the first quarter ended 31 December 2009, an increase of 17% from the same period last year. Profit after taxation grew 58% to $187.7 million from $118.5 million.
Transport operator ComfortDelgro has posted a 9.7% rise in net profit attributable to shareholders of $219.5 million in 2009 from $200.1 million in 2008. Group revenue was $3,051.8 million for 2009 or 2.2% lower than the $3,120.2 million for 2008.
Niche property developer Hiap Hoe has reported a 319.5% jump in net profit to a record $34.3 million for the financial year ended 31 December 2009 (FY09), compared to $8.2 million in 2008 (FY08). Revenue surged 271.6% to $110.5 million, from $29.7 million recorded in FY08.
Neptune Orient Lines (NEPS.SI), the world’s fifth largest container shipping firm, on Thursday reported a wider-than-expected fourth quarter net loss of US$211 million ($298 million) but said business conditions have improved.
Genting Singapore (GENS.SI) said its Resorts World Sentosa casino in Singapore will have its “soft opening” on Feb 14 at an “auspicious hour”, and welcome the first member of the public at 12.18 p.m. the same day.
China Fishery (CNFG.SI) said it has received in-principle approval from the Singapore Exchange for the listing of up to 172,057,599 new shares at Oslo Stock Exchange.
Mapletree Investments said yesterday its private equity fund will buy Beijing Gateway Plaza for 2.9 billion yuan ($600 million) from Hong Kong-listed REIT RREEF China Commercial Trust (0625.HK).
ASL Marine Holdings, the integrated marine company offering shipbuilding, ship repair and ship chartering services, has reported a net profit attributable to shareholders fell 44.9% to $8.97 million for the three months ended 31 December 2009 (2Q FY2010) from $16.27 million in 2Q FY2009.
Eu Yan Sang International, the progressive healthcare company with a strong foundation in Traditional Chinese Medicine (TCM), has posted a net profit of $4.8 million for 2QFY2010 ended 31 December 2009, an increase of 36% y-o-y. The higher net profit was buoyed by a 10% increase in revenue to $58.5 million for 2QFY2010.

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