Singapore stocks are likely to open lower on Monday, as Asian markets will be on the edge amid news that Washington is struggling to reach an agreement with lawmakers over the U.S. debt ceiling.
Singapore’s benchmark Straits Times Index <.FTSTI> rose 1.42% on Friday to 3,182.95 points. Here are some stocks and factors to watch:
Global Logistic Properties (GLPL.SI), which owns warehouses in Japan and China, may be in focus after Singapore’s regulator said it would not take action against the firm for not disclosing information about a non-competition arrangement with ProLogis (PLD.N).
Sembcorp Marine (SCMN.SI) said on Friday its wholly-owned subsidiary Jurong Shipyard has filed a notice of arbitration against its former auditor Ernst & Young.
Singapore Telecommunications (STEL.SI) said on Friday it will inject $1.89 billion worth of infrastructure assets to the trustee-manager of NetLink Trust, a business trust owned by the firm.
Singapore Exchange (SGXL.SI) said on Friday it is proposing a new algorithm to calculate the way trading orders are matched during opening and closing periods and during adjustment phases.
Singapore oil and gas firm Ramba Energy (RAMB.SI) said on Monday the net potential present worth of its 41% stake in Indonesia’s Lemang Block is estimated to be around US$193 million ($233 million).
Singapore’s Rotary Engineering (ROTE.SI) said on Monday it has secured 13 contracts originating from Singapore and the region worth $40 million from April to July this year.
