Home THE DAILY EDGE Business Sept 24: Cosco Corp., Olam, Sinomem Technology
Sept 24: Cosco Corp., Olam, Sinomem Technology

Tags: Cosco Corp (Singapore) | Cosco Corp. Singapore | Cosco Corporation (Singapore) | Mercator Lines | Mercator Lines (Singapore) | Olam International | SGX | Singapore Exchange | Sinomem Technology | Stx Pan Ocean Co.

Written by Bloomberg   
Friday, 24 September 2010 08:36
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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 3,083.13.

Shipping companies: The Baltic Dry Index of commodity- shipping rates fell 1% in London yesterday, taking its nine-day decline to 18%.

Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, rose 4.5% to $1.85. Mercator Lines Singapore (MRLN SP), an Indian bulk carrier, gained 1.8% to 29 cents. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, slid 0.9% to $13.16.

Olam International (OLAM SP): The Singapore-based commodities trader said it’s in preliminary talks with Louis Dreyfus Commodities in relation to a possible business collaboration which may take the form of a merger. No definitive agreements regarding the link have been reached, it said. Olam gained 0.7% to $2.95.

Singapore Exchange
(SGX SP): Operator of the city’s securities and derivatives exchange said it is enhancing its securities borrowing and lending service. The stock climbed 2% to $8.87.

Sinomem Technology (SINO SP): The maker of filtration membranes used in pharmaceutical, food and water treatment industries said its Suntar Investment Pte. unit formed a joint venture to undertake water utility projects in India. Its shares were unchanged at 53 cents.

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Last Updated on Friday, 24 September 2010 08:37