Singapore’s Prime Minister Lee Hsien Loong reshuffled his cabinet after five ministers stepped down following the ruling party’s small margin of victory at this month’s general election.
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*CSC Holdings ltd. (CSC SP) reported a net profit of S$7.9m in the year ended March 31. *Mencast Holdings Ltd. (MCAST SP) said it proposed to buy Top Great Engineering & Marine Ltd. for S$24m. *Olam International (OLAM SP) said its NZ Farming Uruguay unit arranged a loan of up to $30m for immediate capital expenditure requirements. *Tiger Airways Holdings Ltd. (TGR SP) will post 4Q results.
GOVERNMENT: *Singapore Prime Minister Lee reshuffles cabinet after the general election. *Lee Kwan Yew appointed senior advisor to sovereign wealth fund Government of Singapore Investment Corp.
S&P 500 up 0.9% to 1,340.68 Stoxx Europe 600 up 0.3% to 278.17 MSCI Asia Pacific up 0.9% to 135.12 Straits Times Index up 0.2% to 3,141.21
7:10 a.m. Wells Fargo Chief Portfolio Strategist Brian Jacobsen 7:40 a.m. Prudential Financial CIS John Praveen 8:10 a.m. Jefferies Japan Strategist Naomi Fink 8:40 a.m. China Monitor President William Hess 9:10 a.m. Fukoku Capital President/CEO Yuuki Sakurai 10:10 a.m. Daiwa Reg. Hd. Clean Energy/Utilities Dave Dai 10:30 a.m. PricewaterhouseCoopers NZ Chairman John Shewan 10:35 a.m. Moody’s Senior Vice-President Patrick Winsbury 10:40 a.m. GMI Chairman John Robinson