You are here
Stocks to watch: Property counters, ST Engineering, AsiaPhos
THE following stocks had announcements or developments that may influence trading on Tuesday.
Property stocks: Singapore property stocks are set for their best annual performance in five years, and strategists believe the rally is far from over. With an expected pickup in real estate following the easing of housing curbs, developers are seen to be the bright spot in Singapore equities. Already property stocks including City Developments and UOL Group are driving gains in Singapore stocks, with developers and property trusts making up half of the 10 best-performing stocks on the Straits Times Index.
ST Engineering: A Germany-based joint venture between ST Aerospace and Airbus Elbe Flugzeugwerke (EFW) announced on Monday that a global brand in the logistics industry, DHL Express, has ordered an additional four firm and 10 optional A330-300 passenger-to-freighter (P2F) conversions. And to take on the expanded conversion programme for DHL Express, ST Engineering's aerospace arm's global network of facilities will also be utilised for some of the conversions to ensure on-time redeliveries.
AsiaPhos: Phosphate-mining firm AsiaPhos Limited is carrying out internal restructuring, which will involve the assets, operations and activities of its subsidiaries in Singapore, Hong Kong and China. The revamp will facilitate the reorganisation, streamlining and expansion of the group's downstream business segment, comprising the production and sale of phosphorous and phosphate-based chemicals.