Home THE DAILY EDGE Business Oct 18: SGX, Global Logistic Properties, SIA, GuocoLand
Oct 18: SGX, Global Logistic Properties, SIA, GuocoLand

Tags: SIA | Global Logistic Properties | Guocoland | Guocoleisure | Parkway Life REIT | Parkwaylife Reit | SGX | Singapore Airlines | Singapore Exchange | United Envirotech

Written by The Edge   
Monday, 18 October 2010 08:28
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Singapore shares may see a weak start on Monday after the Dow Jones <.DJI> fell on concerns over bank exposure to the US mortgage market and the Singapore Exchange (SGXL.SI) reported a worse-than-expected fall in quarterly net profit. Singapore’s Straits Times Index gained 0.3% to 3,204.27 on Oct 15.

Shares of Singapore Exchange, Asia’s second-largest listed bourse by market value, may open lower after it reported its July-September net profit fell 21% to $74.2 million due to lower trading volumes and higher technology-related expenses.

Here are some other stocks and factors to watch:

Shares of Global Logistic Properties (GLPL.SI) could jump by up to 10% when it debuts in Singapore on Monday, according to a median forecast of five analysts polled by Reuters. The firm said its initial public offering of 1.13 billion shares, the second-biggest ever in the city-state, was heavily over-subscribed.

Singapore Airlines (SIAL.SI), the world’s second-biggest airline by market value, said on Friday it filled 69.9% of the space available on its planes for passengers and cargo in September. The figure was higher than 68.1% recorded in August, but lower than 70.3% in September 2009.

Property developer GuocoLand (GUOC.SI) said its net profit for the three months ended Sept 30 was up 9% at $13.4 million. Its revenue rose 15% to $109.9 million from $95.7 million due to higher contribution from residential projects in Singapore.

GuocoLeisure (GLL SP): The hotel and investment group with businesses in the UK, US and Asia said first-quarter profit increased 39% to US$16.7 million ($21.7 million). Guocoleisure lost 0.7% to 67.5 cents.

Wastewater treatment firm United Envirotech (UNIT.SI) said it will issue 32 million Taiwan depository receipts at NT$15.60 (66.2 cents), with each TDR representing 1.25 ordinary shares.

Parkway Life Real Estate Investment Trust (PREIT SP): The trust partly-owned by Asia’s biggest hospital operator is considering investing in the local nursing-home market, the local press reported, citing Chief Executive Officer Yong Yean Chau. Its shares rose 0.6% to $1.66.


 

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Last Updated on Monday, 18 October 2010 08:30