Beyonics, Jardine Matheson, Tiger 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 climbed 0.8 percent to 3,061.31.
Airlines, casinos, hotels: Singapore expects tourist arrivals to rise as much as 12 percent to 13 million in 2011, said S. Iswaran, the city’s senior minister of state for trade and industry. Tourism spending may climb as much as 28 percent to S$24 billion ($19 million) this year, he said in a speech posted on the ministry’s website.
CDL Hospitality Trusts (CDREIT) (CDREIT), the hotel operator partly- owned by City Developments Ltd. (CIT SP), increased 2 percent to S$2.01. Genting Singapore Plc. (GENS) , the casino operator and owner of the Universal Studios theme park in the city, rose 2.1 percent to S$1.99.
Beng Kuang Marine Ltd. (BKM) : The shipbuilder said its wholly-owned subsidiary Asian Sealand Engineering Pte Ltd. won a contract valued at $21 million to construct a barge. The stock gained 2.3 percent to 22 Singapore cents.
Beyonics Technology Ltd. (BT) : The provider of electronics manufacturing services said it expects to report a second-quarter loss due to a weaker U.S. dollar, significantly lower shipments and a decline in average selling prices to customers in the hard-disk-drive industry. Beyonics slipped 2.5 percent to 19.5 Singapore cents.
Jardine Matheson Holdings Ltd. (JM) : The owner of car distributors and real estate in Asia said full-year underlying profit excluding property valuation gains or losses rose 34 percent to $1.36 billion from the previous year. The stock rose 1.5 percent to $48.
Jardine Strategic Holdings Ltd. (JS) : The Jardine Matheson unit that owns drugstores, supermarkets and hotels said underlying profit increased 32 percent to $1.44. The shares gained 1.4 percent to $28.22.
KSH Holdings Ltd. (KSHH) : The Singapore-based construction company said it won a government contract, valued at S$49.1 million, to build a school in the northeastern part of the city. KSH was unchanged at 24 Singapore cents.
Singapore Land Ltd. (SL) : The office landlord said a joint venture between it and UOL Group Ltd. (UOL) won a S$320 million ($253 million) land tender. Residential condominiums are proposed to be developed on the land, it said. Singapore Land gained 0.4 percent to S$7.23, while UOL Group increased 0.6 percent to S$4.70.
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