Singapore Stocks Preview, Cache Logistics, Hiap Seng, Portek : The following companies may have unusual price changes in Singapore trading. Stock symbols are in parentheses, and share prices are from the previous close.Singapore's Straits Times Index gained 0.4 percent to 3,172.87.
CWT Ltd. (CWT SP): The Singapore-based logistics company said a unit agreed to sell a chemical warehouse in Shanghai, China, for 71 million yuan ($11 million) to Cache Logistics Trust (CACHE SP), operator of warehouses and other logistics facilities. Upon completion of the deal, the property will be leased back to CWT Logistics (Shanghai) Co., it said. CWT lost 0.8 percent to S$1.21. Cache increased 1.1 percent to 94 Singapore cents.
Hiap Seng Engineering Ltd. (HSE SP): The provider of engineering services in the oil and gas industry said it won a contract, valued at S$31.2 million ($25.4 million), for the installation of pipes and storage tanks for a liquefied natural gas terminal project in Singapore. The stock dropped 2.2 percent to 44 Singapore cents.
Portek International Ltd. (PORT SP): The operator of container terminals in Indonesia, Algeria, Malta and Gabon said it received an offer from International Container Terminal Services Inc., the largest Philippine port operator, seeking to buy the rest of the Singapore-based company for S$1.20 per share. Portek, which was suspended from trading yesterday, fell 2.7 percent to 71 Singapore cents when it last traded on May 31.
CWT Ltd. (CWT SP): The Singapore-based logistics company said a unit agreed to sell a chemical warehouse in Shanghai, China, for 71 million yuan ($11 million) to Cache Logistics Trust (CACHE SP), operator of warehouses and other logistics facilities. Upon completion of the deal, the property will be leased back to CWT Logistics (Shanghai) Co., it said. CWT lost 0.8 percent to S$1.21. Cache increased 1.1 percent to 94 Singapore cents.
Hiap Seng Engineering Ltd. (HSE SP): The provider of engineering services in the oil and gas industry said it won a contract, valued at S$31.2 million ($25.4 million), for the installation of pipes and storage tanks for a liquefied natural gas terminal project in Singapore. The stock dropped 2.2 percent to 44 Singapore cents.
Portek International Ltd. (PORT SP): The operator of container terminals in Indonesia, Algeria, Malta and Gabon said it received an offer from International Container Terminal Services Inc., the largest Philippine port operator, seeking to buy the rest of the Singapore-based company for S$1.20 per share. Portek, which was suspended from trading yesterday, fell 2.7 percent to 71 Singapore cents when it last traded on May 31.
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