Singapore shares are likely to open weakly on Thursday as policy tightening in China and Portugal’s credit downgrade are expected to keep jittery investors away from riskier assets. Singapore’s benchmark Straits Times Index <.FTSTI> fell 0.48% on Wednesday to 3,114.71 points. Here are some stocks and factors to watch:
Singapore’s Tiger Airways (TAHL.SI) may be in focus after Australia’s air safety regulator said on Wednesday it would seek a court order to keep the budget carrier grounded there until Aug. 1 due to ongoing safety concerns.
Tiger Airways also said it has appointed Chin Yau Seng as the acting chief executive officer or the budget carrier.
Conglomerate Fraser and Neave (FRNM.SI) said its property arm in Australia has entered into a joint venture with Sekisui House Australia to develop the majority of a mixed-use development in central Sydney.
Singapore’s ASL Marine Holdings (ASLM.SI) said on Wednesday its wholly-owned unit ASL Shipyard has secured new shipbuilding contracts worth about $131 million for the construction of 11 vessels.
Water recycling firm Darco Water Technologies (DRWT.SI) said its subsidiary was awarded a contract worth about $5.4 million from Taiwan’s industrial development bureau to build a centralised wastewater treatment plant in the Taichung.
Singapore insurer Great Eastern Holdings (GELA.SI) plans to expand its general insurance business and does not rule out doing so through acquisitions, recently appointed CEO Christopher Wei said on Wednesday.
