FibreChem Technologies Ltd. (FBCM SP): The manufacturer andseller of chemical fiber products said third-quarter net incomefell 19 percent from a year earlier to HK$120.6 million ($16million) because of higher raw material costs and other expenses.FibreChem was unchanged at 27.5 Singapore cents.
Frasers Centrepoint Trust (FCT SP): The owner of shoppingmalls in Singapore said it will distribute S$8.1 million ($5.5million) to shareholders for the third quarter, 27 percent lessthan a year earlier. Frasers Centrepoint retreated 1.5 Singaporecents, or 2.2 percent, to 66.5 cents.
Great Eastern Holdings Ltd. (GE SP): The biggest lifeinsurer by assets in Singapore and Malaysia said third-quarterprofit rose 9 percent from a year earlier to S$135.2 million.Shares of the company were upgraded to ``buy'' from ``sell'' atCitigroup Inc. following the earnings. Great Eastern climbed 3 cents, or 0.3 percent, to S$9.18.Oversea-Chinese Banking Corp. (OCBC SP), the largest shareholderin the insurer, gained 29 cents, or 5.9 percent, to S$5.19.
Olam International Ltd. (OLAM SP): The Singapore-basedcommodities supplier had its share-price forecast cut to 69Singapore cents from 94 cents at ABN Amro Holdings NV, which saidthat the credit crunch could restrict trade and hamper thecompany's volume growth. The brokerage has a ``neutral'' ratingon the stock. Olam added 4 cents, or 3.2 percent, to S$1.30.
Singapore Airport Terminal Services Ltd. (SATS SP): Thecatering and ground-handling unit of Singapore Airlines Ltd. (SIASP) said second-quarter net income fell 33 percent from a yearearlier to S$32.4 million because of a decline in contributionsfrom its units and higher expenses. The stock rallied 6 cents, or4.1 percent to S$1.53.
Singapore Exchange Ltd. (SGX SP): The operator of the city-state's securities and derivatives markets said it entered into apreliminary agreement with the Fujian government to encouragecompanies in the Chinese province to list their shares inSingapore. Singapore Exchange rose 25 cents, or 4.9 percent, toS$5.35.
Singapore Telecommunications Ltd. (ST SP): Southeast Asia'slargest phone company said currency movements hurt fiscal second-quarter earnings because of contributions from overseasoperations. Singapore Telecom advanced 8 cents, or 3.3 percent,to S$2.51.
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