Home THE DAILY EDGE Business Jan 13: Singapore stocks may rise as Europe debt woes ease
Jan 13: Singapore stocks may rise as Europe debt woes ease

Tags: Ezra | Ezra Holdings | Lian Beng Group | Qian Hu Corp | Yangzijiang | Yangzijiang Shipbldg Hldgs | Yangzijiang Shipbuilding

Written by Reuters   
Thursday, 13 January 2011 08:14
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Singapore shares may rise on Thursday, tracking gains in U.S. markets overnight as a successful bond auction by Portugal eased investors’ fears about the euro zone debt crisis.

Singapore’s benchmark Straits Times Index <.FTSTI> gained 0.11% on Wednesday to 3,244.94 points.

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Shares of Chinese shipbuilding firm Yangzijiang (YAZG.SI) may be in focus after it said on Wednesday it clinched 15 shipbuilding contracts worth a total of US$415.3 million ($534.5 million) in the last four months of 2010.

Oil services firm Ezra Holdings (EZRA.SI) said on Wednesday it had won new charters worth up to US$73 million ($94 million) for three of its offshore support vessels. Ezra also reported a 28% fall in its first-quarter net profit to US$13.3 million from a year ago, mainly due to a lower share of profits from joint venture and associated companies.

Construction firm Lian Beng (LIBG.SI) said its net profit for the six months ended November almost doubled to $22.7 million from $11.4 million a year earlier, due to higher revenue recognition for construction projects and property development.

Fish service firm Qian Hu (QIAN.SI) said its fourth quarter net profit plunged 65% to $634,000 from $1.8 million a year earlier, due to a drop in operating profit for its ornamental fish business.

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Last Updated on Thursday, 13 January 2011 08:15