Home THE DAILY EDGE Business Nov 18: STX OSV, GuocoLand, DBS, DMX, Genting, Hotel Properties
Nov 18: STX OSV, GuocoLand, DBS, DMX, Genting, Hotel Properties

Tags: DBS Group | Dbs Group Holdings | Dmx Technologies | Dmx Technologies Group | Genting Singapore | Genting Singapore Plc | Guocoland | Hong Leong Asia | Hotel Properties | Olam International | STX OSV | STX OSV Holdings

Written by The Edge   
Thursday, 18 November 2010 08:50
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Singapore shares may rise on Thursday, supported by news the government expects GDP to grow around 15% this year, which is at the higher end of previous expectations. The successful IPO of General Motors (GM.N) and hopes Ireland may soon find a solution to its debt woes are also likely to lift investor confidence.

The following companies may have unusual price changes in Singapore trading today, say Thomson Reuters and Bloomberg. Stock symbols are in parentheses, and share prices are from the previous close. The market was closed yesterday for a holiday. Singapore’s Straits Times Index fell 0.8% to 3,212.10.

Recently listed shipbuilder STX OSV said on Thursday it has secured contracts worth 1.3 billion Norway Kroner ($281 million) to build four platform supply vessels.

GuocoLand said its wholly-owned subsidiaries have submitted the highest bid of $1.71 billion for a land parcel in Singapore’s downtown business district. The tender is still under evaluation by the Urban Redevelopment Authority.

DBS Group Holdings (DBS SP): Southeast Asia’s biggest bank said its unit in China has applied to the People’s Bank of China for permission to sell its first yuan-denominated bonds, according to Bing Cheng, DBS’s senior vice-president of treasury and markets. DBS slipped 0.6% to $13.92.

DMX Technologies Group (DMX SP): The network and computer-services provider partly owned by Japan’s KDDI Corp. was rated “accumulate” in new coverage by Madison Williams & Co. DMX fell 1.2% to 41 cents.

Genting Singapore Plc
(GENS SP): The operator of one of two casino resorts in the Singapore was cut to “underperform” from “neutral” at Macquarie Group. The stock rose 0.5% to $2.10.

Hong Leong Asia
(HLA SP): The maker of refrigerators and diesel engines in China said its Chief Executive Officer Teo Tong Kooi resigned effective today. Its shares rose 0.6% to $3.30.

Hotel Properties (HPL SP): Shui On Construction & Materials (983 HK) said it will pay 900 million yuan ($26.5 million) to Hotel Properties and Hines 21st Century Partners LLC for 77% of a development in Shanghai. Hotel Properties, the Singapore-based hotel operator and property developer, climbed 3.2% to $2.94.

Olam International (OLAM SP): The supplier of agricultural commodities was raised to “buy” from “neutral” at Nomura Holdings Inc. The brokerage increased its share-price estimate for the stock to $3.90 from $3.40. Olam dropped 2.8% to $3.09.

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Last Updated on Thursday, 18 November 2010 09:01