Home THE DAILY EDGE Business Jan 31: Singapore stocks likely down on Egypt riots; SIA in focus
Jan 31: Singapore stocks likely down on Egypt riots; SIA in focus

Tags: SIA | Jes International | Jes International Holdings | Olam | Olam International | Singapore Airlines | SMRT Corp | Smrt Corporation | Tiger Airways | Tiger Airways Holdings | Tiger Airways Pte

Written by Reuters   
Monday, 31 January 2011 08:09
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Singapore shares are likely to fall on Monday as anti-government rioting in Egypt prompts investors to flee emerging markets and put their money in less risky assets. Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.31% on Friday to 3,229.69 points.

Here are some stocks and factors to watch:

Singapore Airlines (SIAL.SI), the world’s second largest airline by market value, may be in focus after it reported lower third quarter net profit, hit by provisions for fines as well as a settlement with US authorities on cargo price-fixing charges.

Singapore budget carrier Tiger Airways (TAHL.SI) said on Friday its third quarter net profit rose 60% to $22.6 million, due to stronger passenger volumes and higher average passenger fares.

SMRT (SMRT.SI) said its net profit for the third quarter rose 9.6% to $43 million, helped by higher ridership for its new train lines, as well as higher advertising and rental revenue.

Commodity firm Olam (OLAM.SI) said it plans to acquire two UK confectionary fats firms for about US$50 million ($64.2 million). This will help the firm strenghten its supply chain in the chocolate industry, it said.

JES International (JSIH.SI) said it has an orderbook of about US$1.6 billion ($2.1 billion) now, up from US$900 million in September, as it steps up efforts to secure new contracts from China.

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Last Updated on Monday, 31 January 2011 08:10