Osim, Overseas Union, Singapore Air: 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 fell 0.2 percent to 3,153.30.
DBS Group Holdings Ltd. (DBS) : The biggest Southeast Asian biggest bank’s China unit earned 250 million yuan ($38.3 million) of profit last year, Melvin Teo, chief executive officer of DBS China, said at a news conference in Shanghai on April 15. The lender is set to have 50 Chinese outlets by 2013. The stock fell 1 percent to S$14.66.
Osim International Ltd. (OSIM) : The maker of massage chairs said it plans to buy a 35 percent stake in TWG Tea Co. for S$31.4 million. Osim climbed 0.6 percent to S$1.64 before its shares were halted for the announcement.
Overseas Union Enterprise Ltd. (OUE) : The Singapore- based hotel operator said it will buy the Crowne Plaza Changi Airport Hotel for S$250 million ($201 million). OUE will also buy an adjacent block of land for S$43 million and build a 200- room Holiday Inn Express. The acquisition will boost the number of hotel rooms it has in Singapore to as much as 2,146 from 1,626 now, OUE said. The stock dropped 0.9 percent to S$3.16 before it was suspended from trading.
Singapore Airlines Ltd. (SIA) : The world’s second- biggest carrier by market value said it plans to raise fuel surcharge by between $4 and $32. It also said it filled 73.2 percent of seats in March from 80.8 percent a year earlier. The overall load factor climbed to 67.3 percent from 72.9 percent a year earlier. The stock gained 0.4 percent to S$14.08.
To contact the reporters on this story: Kana Nishizawa in Tokyo at knishizawa5@bloomberg.net.
To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net.
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