Home THE DAILY EDGE Business Oct 29: Indofood Agri, CapitaMalls Asia, Tiger Air, Hu An Cable
Oct 29: Indofood Agri, CapitaMalls Asia, Tiger Air, Hu An Cable

Tags: Capitamalls Asia | Cosco Corp (Singapore) | Cosco Corp. Singapore | Cosco Corporation | Cosco Corporation (S) | Cosco Corporation (Singapore) | Hu An Cable Holdings | Indofood Agri Resources | Stats Chippac | Stx Pan Ocean Co. | Tiger Airways | Tiger Airways Holdings | United Overseas Bank | UOB

Written by The Edge   
Friday, 29 October 2010 08:18
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Singapore shares may open weak on Friday after Wall Street ended little changed overnight as investors pulled back before next week’s elections and a likely announcement of more stimulus from the Federal Reserve. Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.16% on Thursday to 3,129.50 points. Here are some stocks and factors to watch, according to Thomson Reuters and Bloomberg:

Singapore-listed Indofood Agri Resources (IFAR.SI) may be in focus after it said its third-quarter net profit fell 18% year-on-year to $37.6 million on the strengthening of the Indonesian rupiah and a smaller increase in the fair value of its biological assets.

Singapore’s shopping mall developer CapitaMalls Asia (CMAL.SI) said on Thursday its third-quarter net profit rose 14 percent as its retail business was boosted by strong consumer demand in Asia. The company posted a net profit of $68 millio, compared to $59.6 million a year earlier.

Singapore budget carrier Tiger Airways (TAHL.SI) said it had signed a multi-million dollar financing deal with Standard Chartered Bank (STAN.L) for pre-delivery payments of 14 new aircraft.

Singapore-listed Chinese wire and cable manufacturer Hu An Cable (HACH.SI) said on Thursday its Taiwan Depository Receipts (TDRs) rose 7% to hit NTD14.55 ($0.62) each on their debut on the Taiwan stock exchange with a trading volume of 38 million TDRs.

Stats Chippac (STAT SP): The chip-testing and packaging company controlled by Temasek Holdings Pte said third- quarter profit fell to US$24.2 million ($31.4 million) from US$25.1 million a year earlier even as revenue increased 10.9%. Stats Chippac was unchanged at 98.5 cents.

United Overseas Bank (UOB SP): Singapore’s smallest lender by market value may report today third-quarter profit of $590.7 million, according to the average of estimate of seven analysts surveyed by Bloomberg News. That compares with $500 million a year earlier. Its shares lost 0.2% to $18.72.

Bulk-shipping companies: The Baltic Dry Index, which measures the cost of shipping commodities, fell 2.8% in London yesterday, snapping its four-day advance to 2.4%. Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, gained 1.1% to $1.85. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, lost 1.3% to $13.98.

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Last Updated on Friday, 29 October 2010 08:20