Home THE DAILY EDGE Business Aug 11: Banyan Tree, Cosco, Sembcorp, Tiger Air
Aug 11: Banyan Tree, Cosco, Sembcorp, Tiger Air

Tags: Banyan Tree | Banyan Tree Holdings | Cosco Corp (Singapore) | Cosco Corp. | Cosco Corp. Singapore | Cosco Corporation | Cosco Corporation (S) | Cosco Corporation (Singapore) | Del Monte Pacific | Golden Agri-Resources | Indofood Agri Resources | Sembcorp Industries | Tiger Airways | Tiger Airways Holdings | Wilmar International | Yangzijiang | Yangzijiang Shipbldg Hldgs | Yangzijiang Shipbuilding

Written by Bloomberg   
Wednesday, 11 August 2010 08:33
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The following companies may have unusual price changes in Singapore trading today. Share prices are from the previous close. Singapore’s Straits Times Index dropped 0.4% to 2,984.29.

Palm-oil suppliers: Crude palm oil for October delivery dropped 2.2% yesterday in Kuala Lumpur. Indofood Agri Resources (IFAR SP), a unit of Indonesia’s biggest noodle maker, decreased 1.6% to $2.50. Wilmar International (WIL SP), the world’s largest palm-oil trader, lost 0.5% to $6.42.

Golden Agri-Resources (GGR SP), the world’s second-biggest palm-oil supplier, fell 0.8% to 60 Singapore cents. Nestle SA, the world’s biggest food maker, and Unilever will hold off on resuming palm-oil purchases from Sinar Mas Group as they look at the Indonesian company’s assertions that inspectors cleared it of destroying rainforests. Golden Agri is part of the Sinar Mas Group.

Banyan Tree Holdings (BTH SP): The Singapore-based operator of hotels and resorts said its subsidiary Laguna Resorts & Hotels Pcl said it has agreed to sell assets in Phuket, Thailand, for 2.62 billion baht ($111 million). Banyan Tree was unchanged at 85 cents.

Cosco Corp. Singapore (COS SP): The shipbuilding unit of China’s biggest shipping company said it won a US$55 million ($74.5 million) contract to build two bulk carriers for an unidentified Asian ship owner. Cosco slipped 1.9% to $1.57.

Del Monte Pacific (DELM SP): The Philippine-based maker of pineapple juice and sauces said it posted a second-quarter net loss of US$1.3 million ($1.8 million), compared with a net profit of US$5.1 million a year earlier. Del Monte advanced 1.4% to US37.5 cents.

Sembcorp Industries
(SCI SP): Sembcorp UK, a northeast England-based power company, and Sita UK, a waste management firm, are planning to build a plant in Teeside that will convert office and household rubbish into electricity, the two companies said in a statement. SembCorp UK is a subsidiary of Singapore-based Sembcorp, which gets 39% of sales from utilities. Sembcorp Industries slipped 1.4% to $4.17

Tiger Airways Holdings (TGR SP): The budget carrier partly owned by Singapore Airlines (SIA SP) said it transported 523,000 passengers in July, 42% more than a year earlier. Tiger decreased 5.3% to $1.96.

Yangzijiang Shipbuilding Holdings (YZJ SP): The China-based shipbuilder said second-quarter profit increased 32% to 800.5 million yuan ($160 million) from a year earlier. The stock dropped 1.4% to $1.43.

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Last Updated on Wednesday, 11 August 2010 08:36