The following companies may have unusual price changes in Singapore trading today, say Bloomberg and Thomson Reuters. Share prices are from the previous close. Singapore’s Straits Times Index rose 1.9% to 3,300.40 yesterday.
Bulk-shipping companies: The Baltic Dry Index, which measures the cost of shipping commodities, fell 0.5% in London yesterday, the longest losing streak since the period ended Sept 24. Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, gained 3.5% to $2.06. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, climbed 1.6% to $15.
Palm-oil suppliers: Crude palm oil for January delivery increased 2.6% in Kuala Lumpur yesterday to the highest level in more than two years. Golden Agri-Resources (GGR SP), an Indonesian planter listed in Singapore, surged 11% to 78 cents. Wilmar International (WIL SP), the world’s biggest palm-oil trader, gained 0.6% to $6.73.
Keppel Land (KPLD SP): The real-estate unit of Keppel Corp. said it will issue $500 million of unsecured convertible bonds. The convertible bonds will have a term of five years and will be convertible into new Keppel Land ordinary shares, it said. Keppel Land jumped 5.4% to $5.05.
Oversea-Chinese Banking Corp. (OCBC SP): The lender that owns Singapore’s biggest life insurer was raised to “buy” from “hold” at BNP Paribas, which said the company was the “clear- cut winner” among Singapore’s banks during the third-quarter reporting period. The brokerage raised its share-price estimate to $11.40 from $9.70, according to a report by Ng Wee Siang. The stock jumped 4.7% to $9.85.
Singapore rig building and engineering conglomerate Sembcorp Industries said on Monday it posted a 65% rise in third quarter net profit, helped by increased contributions from rigbuilding unit Sembcorp Marine.
ST Engineering (STEG.SI) said on Monday its aerospace arm secured about $370 million worth of new airframe heavy maintenance contracts in the third quarter of 2010.
Orchard Parade (ORCH.SI), a Singapore property developer and hotel operator, said on Monday its third-quarter net profit doubled from a year ago due to the recognition of revenue from a condominium project.