Engro, Keppel Land, Hutchison Port: Singapore Stocks Preview
The following companies may have unusual price changes in Singapore trading. Stock symbols are in parentheses, and share prices are from the previous close.
Singapore’s Straits Times Index lost 0.2 percent to 2,935.78.
Engro Corp. (EGCL SP): The Singapore-based supplier of building materials said it invested 26.4 million yuan ($4 million) in a joint venture with Wuhan Iron and Steel Corp. in China. Engro rose 1.2 percent to 84 Singapore cents.
Keppel Land Ltd. (KPLD) : The real estate unit of the world’s biggest builder of oil platforms said it submitted a winning bid of S$286.8 million ($225.3 million) for a residential site in a government auction. The property in the northeastern part of Singapore will have 630 homes when completed in 2015, it said. The stock lost 0.7 percent to S$4.09.
Hutchison Port Holdings Trust (HPHT SP): Deutsche Bank AG said it bought 70.5 million shares of Hutchison Port, the owner of port assets in Hong Kong and China, on March 18 when the stock started trading below its initial public offering price of $1.01. The German bank, DBS Group Holdings Ltd. and Goldman Sachs Group Inc. managed the share sale. Hutchison Port slumped 5.9 percent to 95 U.S. cents.
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