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Stocks to watch: Genting HK, China Fishery, SingPost
THE Singapore market will open on Monday in the wake of a poor Wall Street outing over the weekend as strong US jobs data raised concerns about earlier-than-expected interest rate hikes.
Genting Hong Kong will resume trading having announced a sale of shares in associate Norwegian Cruise Line Holdings. Genting Hong Kong said that it will record a gain of about US$218.2 million from the sale.
Genting Hong Kong shares last changed hands at 35.5 US cents on March 5, before trading was halted for the announcement.
China Fishery Group has set the date for an extraordinary general meeting for March 25. The company will seek shareholder approval for a rights issue of four rights shares for every five shares held. The rights shares will be sold at 17.3 Singapore cents apiece.
China Fishery shares last traded at 17.3 Singapore cents.
Singapore Post said that it will invest US$1.1 million for a 33 per cent stake in a joint venture with Trikomsel to develop an e-commerce business in Indonesia.
SingPost shares closed at S$1.96 on March 6.