Friday, 20 March 2009 09:01
The Straits Times Index, fell 0.21% in the opening minutes. The index of 30 companies traded on Singapore Exchange fell 3.32 to 1,581.54. Among the stocks in the index, 9 rose, 15 fell and 6 were unchanged. Declines in the Straits Times Index were led by DBS Group Holdings, United Overseas Bank and Oversea-chinese Banking Corp. About 27.65 million shares changed hands in Singapore.
Keppel Corp, which rose 6 cents to $4.43, was the most active stock by value in Singapore.
The next most-active issues were SingTel, which rose 1 cents to $2.46, and DBS Group Holdings, which fell 6 cents to $7.65.
The following companies may have unusual price changes in trading, says Thomson Reuters and Bloomberg.
Energy-related stocks such as Keppel Group (KPLM.SI) and Sembcorp Marine (SCMN.SI) may be in focus on Friday after oil prices jumped more than 7% on the US Federal Reserve’s plan to fight recession.
Shipbuilders: Bulk-shipping lines may cancel or defer as much as 65% of the vessels they are scheduled to receive next year amid the global recession and concerns about overcapacity, HSBC Holdings Plc analysts Steve Man and Ankur Sharma wrote in a March 18 report. “With bulk-shipping lines cutting capacity to adjust to lower demand, the massive deliveries for bulkers scheduled for 2009 to 2011 will need to be deferred,” the analysts wrote. Stocks of shipbuilders like Cosco Corp. Singapore, which has already announced 30 order cancellations and deferrals, and Yangzijiang Shipbuilding Holdings may see significant trading.
SingTel (ST SP) and its rival Internet service providers MobileOne (M1 SP) and StarHub (STH SP) have cut their monthly subscription prices by as much as 30% to draw customers amid the recession, The Straits Times reported.
Fishing fleet operator China Fishery Group (CFG SP) said it will not proceed with a final dividend of 6.03 cents a share. Instead, the company is proposing to give shareholders one bonus share for every 10 shares held.
Keppel Land (KPLD SP), property development unit of the world’s biggest builder of oil rigs, had its rating upgraded to “neutral” from “underweight” at JPMorgan Chase & Co, saying the share-price has already factored into the outlook for writedowns and increased debt.
Parkway Holdings (PWAY SP), Singapore’s biggest hospital operator, said it has reached an amicable settlement with Qwek Koo, a former marketing manager, who claimed Parkway owes him $2.1 million. Details of the settlement are confidential, Parkway said.
Electronic firm Enzer Corporation (ENZR.SI) said two of its subsidiaries, incorporated in Singapore and Malaysia, have initiated creditor's voluntary winding-up liquidation proceedings.
No comments:
Post a Comment