Home THE DAILY EDGE Business Jan 19: UOL, CapitaCommercial Trust, Foreland, OUE, Total Access
Jan 19: UOL, CapitaCommercial Trust, Foreland, OUE, Total Access

Tags: Capitacommercial Trust | City Developments | Foreland Fabrictech Hldgs | OUE | Overseas Union Enterprise | Total Access Comm Pcl | Uol Group

Written by Bloomberg   
Wednesday, 19 January 2011 07:52
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The following companies may have unusual price changes in Singapore trading. Stock symbols are in parentheses, and share prices are from the previous close. Singapore’s Straits Times Index lost 0.3% to 3,249.58.

CapitaCommercial Trust (CCT SP): The office landlord partly owned by CapitaLand (CAPL SP) said distributable income in the fourth quarter was $54.7 million compared to $52.9 million a year earlier.

UOL Group (UOL SP): The developer partly owned by Singapore’s second-biggest developer said its $313 million bid for a property in eastern Singapore was successful. The site may be redeveloped as commercial and residential project, it said.

City Developments (CIT SP): Singapore’s second-largest developer has its rating cut to “sell” from “reduce” at India Infoline The brokerage lowered its share-price forecast to $10.55 from $13.63. City Developments rose 1.2% to $12.26.

Foreland Fabrictech Holdings (FLFT SP): The textile maker said it expects higher sales and pre-tax profit in the fourth quarter compared with the year ago on increased demand for fabric. Foreland was unchanged at 14.5 cents.

Overseas Union Enterprise (OUE SP): Credit Suisse Group AG is selling a stake in Singapore hotel operator Overseas Union Enterprise for as much as US$116 million ($149 million), Reuters reported, citing its IFR news service. Credit Suisse is offering to sell the shares at between $3.35 and $3.50 each. The shares gained 1.1% to $3.58.

Total Access Communication Pcl (DTAC SP): Thailand’s second-biggest mobile-phone company said its Chief Executive Officer Tore Johnsen will resign with effect from Feb. 28. Jon Eddy Abdullah will be the new chief executive officer, the company said. The stock slipped 1.5% to US$1.36 ($1.75).

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Last Updated on Wednesday, 19 January 2011 09:46