Home THE DAILY EDGE Business Jan 19: Singapore stocks may open higher; OUE, CapCom Trust in focus: corrected
Jan 19: Singapore stocks may open higher; OUE, CapCom Trust in focus: corrected

Tags: Capitacommercial Trust | OUE | Overseas Union Enterprise | SGX | Singapore Exchange | Tt International | Wanxiang International

Written by Reuters   
Wednesday, 19 January 2011 08:37
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Singapore shares may open higher on Wednesday, helped by stronger commodity prices, improving sentiment in the debt-laden euro-zone and robust earnings from US technology companies. Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.34% on Tuesday to 3,249.58 points.

Here are some stocks and factors to watch:

Singapore hotel operator Overseas Union Enterprise (OVES.SI) may be in focus after IFR reported that Credit Suisse International is selling up to a US$116 million ($149 million) stake in the property firm.

CapitaCommercial Trust (CACT.SI), which is managed by CapitaLand (CATL.SI), said on Wednesday its fourth-quarter distributable income rose 3.4% to $54.7 million from a year ago, helped by lower interest payments and a fall in property operating expenses.

Singapore Exchange (SGXL.SI), Asia’s second-largest listed bourse operator, said on Wednesday it is launching the world’s fastest trading engine, SGX Reach, on Aug 15 this year.

Wanxiang International (WXIL.SI), which manufactures flavours and fragrances, said on Tuesday it had decided not to proceed with the acquisition of the Chang Jiang property in China’s Jiangsu Province, for which it had paid a deposit of 36.9 million yuan ($7.2 million).

Singapore electronics retailer TT International (TINL.SI) said on Tuesday its executive directors, Sng Sze Hiang and Tong Jia Pi Julia, had withdrawn their bankruptcy applications and will continue to serve on the board.

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Last Updated on Wednesday, 19 January 2011 09:49
 

Comments 

 
0 #1 Peng Hock Lee 2011-01-19 18:11 OUE - Credit Suisse does not made sense in offloading their holdings at discount - an act of desperation!