Home THE DAILY EDGE Business Nov 19: DBS, China Fishery, Olam
Nov 19: DBS, China Fishery, Olam

Tags: China Fishery | DBS Group | Genting Singapore | Genting Singapore Plc | Noble Group | Olam International

Written by The Edge   
Friday, 19 November 2010 08:26
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Singapore shares are likely to rise on Friday, after concerns about Ireland’s debt problems eased and triggered a rally in Wall Street shares overnight.

Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.10% on Thursday to 3,215.22 points. Here are some stocks and factors to watch, say Thomson Reuters and Bloomberg:

Shares of DBS Group (DBSM.SI) may be in focus after it said it would issue $800 million in non-cumulative, non-convertible and non-voting preference shares after its initial offer of $500 million was over 3.5 times subscribed.

Commodity suppliers: The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, gained 2.4% yesterday in New York, snapping its two-day drop. Noble Group (NOBL SP), a Hong Kong-based commodities supplier, rose 1% to $2.08. Olam International (OLAM SP), a Singapore-based supplier of agricultural commodities, gained 0.3% to $3.10.

China Fishery
(CNFG.SI) said on Thursday it has signed a loan facility agreement worth $425 million ($551 million), which will be used mainly for the refinancing of existing debts and for working capital needs.

Genting Singapore Plc (GENS SP): The operator of one of two casino resorts in the city-state was rated “underweight’ in new coverage at HSBC Holdings Plc. The stock dropped 2.4% to $2.05.

Singapore office rents rose 7.2% during the third quarter, the most since 2008, helped by strong demand by both local firms and multinationals based in the city-state, CB Richard Ellis said on Thursday.

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Nov 19: DBS, China Fishery, Olam
Friday, 19 November 2010

Last Updated on Friday, 19 November 2010 08:27