Categorized | Singapore Trading News

Singapore stocks likely rise on US; Tiger Airways, Keppel in focus

Singapore shares are likely to open higher on Monday after US markets posted their best week in two years on easing debt and economic fears. Singapore’s benchmark Straits Times Index rose 0.6% on Friday to 3,139.01 points. Here are stocks and factors to watch:

Shares of budget carrier Tiger Airways (TAHL.SI) may be in focus after Australia’s airline safety regulator said it has grounded the airline’s Australian operations over “serious” safety concerns, disrupting thousands of passengers at the start of the school holiday season. Tiger said the halt of its Australia operations would cost an estimated $2 million a week.

Keppel Corp (KPLM.SI), the world’s largest oil rig builders, said on Sunday a unit of Singapore-listed Mermaid Maritime (MMPC.SI) has exercised the first of two options to build a jackup rig worth US$184 million ($225 million).

Mapletree Industrial Trust (MAPI.SI) said on Saturday it has bought a portfolio of flatted factories and amenity centres from JTC Corporation for $400.3 million.

Hi-P International (HIPI.SI) said it expects to report lower revenue and net profit after tax for the second quarter compared to the preceding three months, due to the delay of projects from its customers, and higher labour and material costs.

Chinese snack and candy maker Hsu Fu Chi (HSFU.SI) suspended trading in its shares following media reports that Nestle SA (NESN.VX) has been holding talks to buy the Singapore-listed firm.

Adapted from i3investor & Reuters

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