Singapore shares are set to climb higher on Thursday following gains in U.S. equity markets overnight, as strong data helped boost confidence that the global economic outlook is improving.
Singapore’s benchmark Straits Times Index <.FTSTI> gained 1.26% on Wednesday to 3,095.32 points.
Here are some stocks and factors to watch:
Sembcorp Marine (SCMN.SI) may be in focus after it said its unit Sembawang Shipyard signed a long-term alliance contract with Canada’s Teekay Marine Services to provide ship-repair, refurbishment and marine services for its ships.
Technology firm Infinio Group (INFN.SI) said it will acquire agriculture firm Ephraim in a reverse takeover deal worth $381 million, after which Ephraim will own 93 percent of Infinio.
Ascendas Real Estate Investment Trust (AEMN.SI) said it has agreed to buy a commercial property in Singapore for $125.6 million. It also said its overall portfolio saw a revaluation gain of $307.6 million.
Oil and gas firm Ramba Energy (RAMB.SI) said on Wednesday it had won a marine logistics services contract worth about $10 million to support the installation of an offshore gas processing platform in Southeast Asia.
Pharmaceutical maker Tianjin Zhogn Xin (TIAN.SI) said its full year net profit rose 9% to 293.3 million yuan ($56.5 million) from 269.7 million yuan a year earlier, helped by higher sales from its industrial and commercial businesses.
Saizen Reit (SZNR.SI) has agreed to sell a property with residential and commercial units in Japan to a private investor for 201 million yen ($3 million).
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