Home THE DAILY EDGE Business Jul 2: Raffles Medical, SembCorp Marine, ST Engineering, SPH, Keppel Corp
Jul 2: Raffles Medical, SembCorp Marine, ST Engineering, SPH, Keppel Corp

Tags: China New Town Devt Co | Keppel Corporation | Otto Marine | Pt Berlian Laju Tanker Tbk | Raffles Medical Group | Sembcorp Marine | Singapore Airlines | Singapore Press Hldgs | Singapore Tech Engineering

Written by The Edge Singapore   
Thursday, 02 July 2009 08:51
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The following companies may have unusual price changes in trading today, say Bloomberg and Thomson Reuters. Share prices are from the previous close. The Straits Times Index gained 0.8% to 2,352.55.

Raffles Medical Group (RFMD SP): The Singapore-based hospital operator had its share price target raised to $1.30 from $1.07 previously at Nomura Holdings Inc., which has maintained its “buy” rating. The stock added 2.1% to 97 cents.

SembCorp Marine (SMM SP): The world’s second-biggest builder of oil rigs said it has won a US$237.3 million ($343.2 million) order to construct a drilling rig for Seadragon Offshore. The stock gained 2.2% to $2.75.

Singapore Press Holdings (SPH SP): The city’s biggest newspaper publisher had its share price target raised to $3.90 from $3.15 at JPMorgan Chase & Co., which has maintained its “overweight” rating. It gained 1% to $3.19.

Singapore Technologies Engineering (STE SP): Asia’s biggest aircraft maintenance company said it has won a $20 million training contract for the Singapore Navy. Its shares rose 0.4% to $2.46.

Keppel Corp. (KEP SP): The world’s biggest builder of oil rigs said its unit won an 11 million euro contract ($22.6 million) to supply equipment for a waste-to-energy power plant in Tianjin, China. Its shares added 1% to $6.97.

China New Town Development Co. (CNTD SP): The developer of townships in China said it will repurchase 382 million yuan ($81 million) worth of senior notes. The company will pay the noteholders 229.7 million yuan in cash and issue them 229.6 million new shares at 7.9 cents each. China New Town’s shares rose 4.4% to 12 cents.

Otto Marine (OTML SP): The shipbuilding and ship-chartering company said a subsidiary has terminated a 23.5 million (48 million) euro shipbuilding contract from Polar Marine 1 Pte., a joint venture between GC Reiber Shipping ASA and a second unit of Otto Marine. The company said it received payments of 4.7 million euros from Polar Marine before the contract was cancelled. Otto Marine slumped 7.3% to 38 cents.

Singapore Airlines (SIA SP): The world’s second-biggest airline by market value, said the company is taking deliveries of planes it has on order for this year and the early part of next year on schedule, Chief Executive Officer Chew Choon Seng said today. “A lot will depend on how business shapes up for the rest of this year and what the future portends in 2010.” The stock was unchanged at $13.30.

Indonesian shipping company PT Berlian Laju Tanker (BLTA.JK) (PTBL.SI) said today it has obtained approval from its shareholders to raise 591.7 billion rupiah ($84 million) by issuing new shares.

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Last Updated on Thursday, 02 July 2009 10:17