Home THE DAILY EDGE Business Nov 16: SembMarine, SIA, SGX, Tiger Air, Marco Polo Marine
Nov 16: SembMarine, SIA, SGX, Tiger Air, Marco Polo Marine

Tags: China Angel Food | Marco Polo Marine | Sembcorp Marine | SembMarine | SGX | SIA | Singapore Airlines | Singapore Exchange | Tiger Airways | Tiger Airways Holdings

Written by The Edge   
Tuesday, 16 November 2010 08:18
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Singapore shares may open lower on Tuesday after Wall Street slipped overnight as concerns the Federal Reserve may scale back its efforts to stimulate the economy muted optimism over two big takeover bids.

Singapore’s benchmark Straits Times Index <.FTSTI> fell 0.47% on Monday to 3,236.80 points. Here are some stocks and factors to watch say Thomson Reuters and Bloomberg:

Sembcorp Marine (SCMN.SI), the world’s second largest rig-builder, may be in focus after it said it has signed a US$195 million ($254.2 million) contract to sell a jack-up rig to drilling contractor Transocean.

Singapore Airlines
(SIAL.SI), the world’s second-biggest carrier by market value, said on Monday it filled 71.1% of the space available on its planes for passengers and cargo in October.

Singapore Exchange (SGXL.SI), Asia’s second-largest listed bourse operator, said on Monday it has begun its new clearing service for over-the-counter (OTC) traded financial derivatives, starting with interest rate swaps.

Singapore budget airline carrier Tiger Airways (TAHL.SI) reported on Monday a total of 5.6 million passengers during the 12 months to October 2010, a 39% increase from a year ago. The load factor over the same period increased by percentage points to 86%.

Singapore ship-chartering firm Marco Polo Marine (MAPM.SI) said on Monday it has proposed to acquire two utility vessels from RAS Marine for a total of A$21.5 million ($27.6 million). The firm said it aims to tap into Australia’s high demand for offshore vessels.

China Angel Food (CANG SP): The maker and distributor of confectionary and food products said its controlling shareholder Fine Ally Group has offered to buy the rest of the company at 17 cents a share. Fine Ally, which holds a 49.8% stake in the company, plans to delist China Angel. Its shares were unchanged at 15 cents when it last traded on Nov 12.

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Last Updated on Tuesday, 16 November 2010 08:29