Allgreen, Sembcorp, Tiger Airways: 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 1 percent to 2,973.08.
Allgreen Properties Ltd. (AG SP): The Singapore-based real estate company controlled by Malaysian billionaire Robert Kuok said full-year net income increased 79 percent to S$290.7 million ($227.2 million) from the previous year. The stock fell 1 percent to S$1.02.
Global Logistic Properties Ltd. (GLP SP): The logistics company whose customers include Wal-Mart China and FedEx Corp., said it plans to develop new facilities in Suzhou, China. Global Logistics dropped 1.5 percent to S$1.93.
Indofood Agri Resources Ltd. (IFAR SP): The palm-oil unit of Indonesia’s biggest noodle maker said full-year net income slipped 8.2 percent to 1.4 trillion rupiah ($158 million) from the previous year. The stock decreased 2.6 percent to S$2.26.
Sembcorp Industries Ltd. (SCI SP): The parent of Sembcorp Marine Ltd. will release full-year results today. The company is expected to report a net income of S$705 million, according to the average estimate of 17 analysts compiled by Bloomberg. That compares with S$683 million in the previous year. The shares gained 0.2 percent to S$4.83.
Tiger Airways Holdings Ltd. (TGR SP): The budget carrier controlled by Singapore Airlines Ltd. (SIA SP) said it plans to buy a 32.5 percent stake in the Philippines’ South East Asian Airlines for $6 million. Tiger Airways decreased 2.9 percent to S$1.35.
United Overseas Bank Ltd. (UOB SP): Singapore’s smallest lender by market value will release its full-year earnings today. The company is expected to post a net income of S$2.5 billion, according to the average estimate of 24 analysts compiled by Bloomberg. That compares with S$1.9 billion a year ago. The stock slid 1.8 percent to S$18.
Wheelock Properties Singapore Ltd. (WP SP): The unit of Hong Kong’s Wheelock & Co. said it will spend 1.4 billion yuan to purchase five properties in China. Residential projects will be built on the sites. The shares climbed 1.6 percent to S$1.89.
To contact the reporter on this story: Jonathan Burgos in Singapore at email@example.com.
To contact the editor responsible for this story: Nick Gentle at firstname.lastname@example.org.