Home THE DAILY EDGE Business Jan 17: Singapore stocks may open higher; China moves seen limiting
Jan 17: Singapore stocks may open higher; China moves seen limiting

Tags: Hi-P | Hi-P International | International Press Softcom | Singapore Press Hldgs | Singapore Press Holdings | Sound Global

Written by Reuters   
Monday, 17 January 2011 08:44
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Singapore shares may open higher on Monday following gains on Wall Street overnight,lifted by financial stocks. However, any gains may be subdued due to China's latest move to tighten monetary policy. Singapore’s benchmark Straits Times Index <.FTSTI> fell 0.3% on Friday to 3,245.96 points. Here are some stocks and factors to watch:

Media firm Singapore Press Holdings (SPH) (SPRM.SI) may bein focus after it said on Friday its first quarter net profitfell 29.3% due to a drop in operating revenue  from its property segment.

Electronics contract manufacturer Hi-P International (HIPI.SI) said it expects its revenue for the fourth quarter to be higher than the previous three months due to higher demand from its customers. It had previously guided for its fourth-quarter revenue to be comparable to the third quarter.

International Press Softcom (IPSL.SI), which provides software contract manufacturing services, said on Friday the firm expects to record a loss for the second half of 2010, due to low revenue from its Singapore operations and an impairment charge due to the closure of one of its units.

Chinese waste water treatment firm Sound Global (SOGL.SI) said it will invest 119.6 million yuan ($23.4 million) to build and operate a waste water project in Shaanxi province, China. Sound Global's chief financial officer Choo Beng Lor has stepped down with effect from Jan 14 to pursue other career opportunities, the company said. Its finance manager Zhang Xiquan will temporarily take over Choo's duties.

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Last Updated on Monday, 17 January 2011 08:47