SINGAPORE DAYBOOK: Noble Group, Property Stocks, Yongnam
Noble Group Ltd., the Hong Kong- based commodities supplier, said its fourth-quarter net profit almost tripled to $247.4 from $84.9 million a year earlier.
*The MSCI Asia Pacific Index rose 0.5 percent at yesterday’s close. Singapore’s Straits Times Index fell 0.5 percent at yesterday’s close. *The Dow Jones Industrial Average advanced 0.8 percent at yesterday’s close. *The Stoxx Europe 600 Index gained 0.8 percent at yesterday’s close.
*Property developers: Singapore’s government increased development charges levied on real estate companies by as much as 25 percent for residential properties. The tax for developing other properties such as office buildings and hotels were also increased. The change in the levy, which was announced after market close yesterday, will be reviewed in August. *Boustead Singapore Ltd. (BOCS SP): The engineering company that’s helping to build a water infrastructure system in Libya said financial exposure to its operations in the country is between S$15.5 million ($12 million) and S$39.6 million. The company had earlier suspended operations in Libya and evacuated non-Libyan staff from its joint venture project in the African nation. *Noble Group Ltd. (NOBL SP): The Hong Kong-based commodities supplier said fourth-quarter net profit almost tripled to $247.4 million from $84.9 million a year earlier. *Overseas Union Enterprise Ltd. (OUE SP): The Singapore-based hotel operator reported full-year net income of S$777.2 million, compared with a net loss of S$93.4 million a year ago. *Yongnam Holdings Ltd. (YNH SP): The Singapore-based construction company said full-year net income climbed 36 percent to S$54.4 million from the previous year.
*9:30 p.m.: Feb. Purchasing Managers Index. Median estimate for the PMI is 50, based on four economists’ forecast compiled by Bloomberg. That compares with 50.5 in January.
BTV: Selected guests with times
*7:10 a.m.: HSBC Asia Pacific CEO Peter Wong *7:40 a.m.: Bank of America Merrill Lynch Head of Global Rates & Currencies David Woo *8:10 a.m.: PIMCO Market Strategist & Portfolio Manager Tony Crescenzi *9:10 a.m.: China Analytics’ Managing Director & Partner William Hess *10:10 a.m.: Societe Generale Chief Japan & Korea Economist Takuji Okubo *11:10 a.m.: Prudential International Managing Director John Praveen
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