Home THE DAILY EDGE Business Apr 7: Singapore stocks likely to rise on US; Genting S’pore in focus
Apr 7: Singapore stocks likely to rise on US; Genting S’pore in focus

Tags: Asia Environment Holdings | Eratat Lifestyle | Genting Singapore | Genting Singapore Plc

Written by Reuters   
Thursday, 07 April 2011 08:46
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Singapore shares are likely to rise on Thursday following gains on Wall Street overnight, as stronger commodity prices and firm global markets help to support investor confidence.

Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.75% on Wednesday to 3,170.33 points.

Here are some stocks and factors to watch:

Shares of casino operator Genting Singapore (GENS.SI) may be in focus after the Business Times said Las Vegas Sands (LVS.N) chief executive Sheldon Adelson suggested that a junket representative could have been operating at its Singapore casino, which is currently not allowed.

Chinese sportswear maker Eratat Lifestyle (ELFL.SI) said it plans to issue 45 million new shares at $0.202 each, which represents a 9.7% discount to the volume weighted average price of $0.2238.

The auditors of Asia Environment Holdings (ASEN.SI) have issued an emphasis of matter, highlighting that the firm had a deficit in net current assets of 574 million yuan ($16.9 million) for the year ended Dec 31, which may cast significant doubt on its ability to continue as a going concern.

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Last Updated on Thursday, 07 April 2011 08:47