Home THE DAILY EDGE Business Nov 29: Kim Eng, Mapletree Logistics, Mermaid Maritime, Z-Obee, Serial System
Nov 29: Kim Eng, Mapletree Logistics, Mermaid Maritime, Z-Obee, Serial System

Tags: Golden Agri-Resources | Indofood Agri Resources | Kim Eng Holdings | Mapletree Logistics Trust | Mermaid Maritime Pcl | Serial System | Wilmar International | Z-Obee Holdings

Written by The Edge   
Monday, 29 November 2010 08:34
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Singapore shares may see a weak start on Monday after Wall Street fell on Friday, but news of an 85 billion euro ($148.6 billion) rescue package for Ireland may lend some support. Singapore’s benchmark Straits Times Index <.FTSTI> fell 0.04% on Friday to 3,158.08 points, say Bloomberg and Thomson Reuters.

Palm-oil producers: Crude palm oil for February delivery slipped 0.1% in Kuala Lumpur on Nov. 26, snapping its two-day 5.1% advance. Golden Agri-Resources (GGR SP), the world’s second- biggest palm-oil producer, dropped 0.7% to 73.5 cents. Indofood Agri Resources (IFAR SP), the palm-oil unit of Indonesia’s largest noodle maker, declined 3.3% to $2.66. Wilmar International (WIL SP), the world’s No. 1 palm-oil trader, was unchanged at $6.08.

Kim Eng Holdings (KEH SP): The Singapore-based brokerage said it has agreed to buy 70% of Interpac Securities Group, a stock-broking unit of Malaysia’s Berjaya Corp. It did not say how much it is paying for the Interpac stake. The business is valued at 142 million ringgit ($59.4 million), Kim Eng said. Kim Eng slipped 0.6% to $1.81.

Mapletree Logistics Trust (MLT SP): The industrial landlord partly owned by Temasek Holdings Pte said it bought a property, comprising of six blocks of industrial warehouses, in Singapore for $55 million ($72.6 million). The shares climbed 1.7% to 91.5 cents.

Mermaid Maritime Pcl (MMT SP): The provider of drilling services to the oil and gas industry had a full-year net loss of 465 million baht ($20.3 million), compared with a net profit of 714.5 million baht a year earlier. The stock was unchanged at 43.5 cents.

Mobile handset firm Z-Obee (ZOBE.SI) said on Friday it will issue 80 million units of Taiwan depository receipts at NT$10.20 each, or $0.577. The TDRs are expected to start trading on the Taiwan stock exchange on December 3.

Electronics component maker Serial System (SERL.SI) said on Friday that its application to the issue Taiwan depository receipts was not approved by the Taiwan stock exchange. It did not give the reason for the rejection of its application, but said it plans to make a re-submission to the exchange.

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Last Updated on Monday, 29 November 2010 08:49