SINGAPORE shares may open a tad higher on Friday as global markets edged up, but trading is likely to be quiet as U.S. markets were closed overnight for the Thanksgiving holiday.
Shares of Sabana REIT , which owns industrial properties, makes its Singapore market debut after raising about $491 million in an initial public offering that was 2.5 times subscribed.
Stocks and factors to watch:
- CHINA FISHERY
- China Fishery, which started fishing in waters off Mauritania, expects Africa to account for 20-30 percent of revenue in 3-4 years, from about less than 7 percent now.
The company said on Thursday its net profit rose 24 percent to $116.5 million for the year ended Sept 28, helped by higher operating efficiency for its trawling and fishmeal businesses.
- PACIFIC SHIPPING TRUST
- Pacific Shipping Trust said it has bought five bulk carriers for a total of $150 million from Tianjin Xingang Shipbuilding Industry, which will be delivered between October 2012 and April 2013. The trust said its total contracted charter revenue will increase to about $800 million with the acquisitions.
- KEPPEL CORP
- Keppel Corp, the world's largest rigbuilder, may be in focus after it said it had won a $180 million contract to build a jackup rig for Standard Drilling. (ID:nL3E6MP0Q1)
- SINGAPORE AIRLINES
- Singapore Airlines said it has signed a codeshare agreement with Garuda Indonesia for flights between Singapore and Indonesia's popular tourist destination Bali, which will commence from Dec 1.
- STX OSV
- Offshore shipbuilder STX OSV said its net profit for the third quarter surged 69 percent to NOK 154 million ($25.3 million) from NOK 91 million a year ago, boosted by higher orders from customers.
- Singapore's benchmark Straits Times Index rose 0.71 percent on Thursday to 3,159.23 points.
- U.S. markets were closed on Thursday for Thanksgiving. On Wednesday, the Dow Jones industrial average closed up 1.37 percent to 11,187.28. The Standard & Poor's 500 Index advanced 1.49 percent and the Nasdaq Composite Index rose 1.93 percent.