Singapore Stocks Market

October 4, 2012

Sept 24: First REIT, SGX, Sakari, Dyna-Mac

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Written by: SG Market Watch

Singapore shares may open flat as Spain factor fades.

The blue-chip Straits Times Index rose 15.62 points to close at 3078.23. In the broader market, gainers outnumbered losers 292 to 139. Overall volume traded was 1.43 billion shares. Here are some stocks and factors to watch:

First Real Estate Investment Trust agreed to acquire Siloam Hospitals Manado and Hotel Aryaduta Manado for $83.6 million, as well as Siloam Hospitals Makassar for $59.3 million.

Singapore Exchange said on Friday it signed a memorandum of understanding with the Tianjin authorities in China to work on the potential listing of Tianjin companies on the Singapore bourse. On Friday, SGX said it appointed Timothy Utama as chief operations and technology officer from Dec 1 this year. Utama will join SGX’s senior management team and report to the chief executive Magnus Bocker.

Sakari Resources said its coal reserves at its Sebuku mine in Indonesia have risen, with 22.1 million metric tonnes (Mt) of proven reserves as at June 30, up from 1.6 Mt at end-2011. Probable reserves also rose to 9.4 Mt from 5.5 Mt. PTT, Thailand’s top energy company, has offered to buy out Sakari for $1.18 billion as the oil and gas firm expands into coal to meet rising regional demand for the fuel.

Dyna-Mac Holdings said on Friday that it has secured three new fabrication orders worth a provisional sum of US$42 million ($51.5 million). One order is from its long-term customer SBM Offshore NV. Another is from a new customer, Subsea 7 Australia Contracting Pty Ltd. The third is a letter of intent with Keppel Offshore & Marine Group.

The Media Development Authority of Singapore (MDA) on Friday fined Singtel‘s SingNet $80,000 for disruptions to its mio television programmes last October and November. About 850 mio TV customers were affected island wide.

Mainboard-listed Global Logistics Properties (GLP) announced on Friday the incorporation of two new indirect subsidiaries in Chengdu, China.

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