Singapore?s stock market has been giving out a little pre-Christmas cheer with the Straits Times Index (SGX: ^STI) moving up 0.7% to 3,116 points. Within the index, it was mostly a field of green as 24 out of the index?s 30 constituents ended the day with gains. Only three shares made losses.
Let?s take a look at some of the shares that managed to post better results than the index.
Tritech Group (SGX: 5NL) jumped 6.7% to S$0.40. The geotechnical, ground, and structural engineering services provider had announced last Friday evening that…
Singapore’s stock market has been giving out a little pre-Christmas cheer with the Straits Times Index (SGX: ^STI) moving up 0.7% to 3,116 points. Within the index, it was mostly a field of green as 24 out of the index’s 30 constituents ended the day with gains. Only three shares made losses.
Let’s take a look at some of the shares that managed to post better results than the index.
Tritech Group (SGX: 5NL) jumped 6.7% to S$0.40. The geotechnical, ground, and structural engineering services provider had announced last Friday evening that it intends to seek a listing on the Catalist stock exchange in Singapore for certain subsidiaries of its limestone business.
Back in September last year, Tritech had initially wanted to seek a listing for the same subsidiaries on the Stock Exchange of Hong Kong Limited but has since changed its mind. The limestone business subsidiaries are involved with the quarrying, extraction, and production of dimension stones and other marble-related products.
Tritech would have to obtain shareholder and regulatory approvals for its proposal to list on the Catalist exchange. It also highlighted the fact that the listing “is in its preliminary stages” and that there’s no guarantee that regulatory approvals will be granted. The company would be updating the investing public in due course.
Marine and offshore engineering outfit Viking Offshore and Marine (SGX: 557) gained 3.6% to S$0.145. The company had recently revealed that it had been awarded a S$20m contract by Singapore Technologies Marine Ltd.
Under the terms of the contract, Viking would be providing turnkey solutions to “design, supply, install, and commission of heating, ventilation, air conditioning, and refrigeration systems.”
Finally, we have low-cost airline Tigerair (SGX: J7X) with its shares up 3% to S$0.52. Last Friday, full-service carrier Singapore Airlines (SGX: C6L) announced that it had bought some 72.33m shares of Tigerair from wholly-owned subsidiaries of Temasek Holdings, one of the investment arms of Singapore’s government, for a total of S$49m.
The deal would see SIA upping its stake in Tigerair from 32.7% to 40%. Such a move would normally trigger a mandatory general offer from the acquirer, but SIA has been given regulatory approval to not have to launch an offer for the rest of Tigerair’s shares.
Tigerair has been facing tough times in recent years but SIA likely sees better days ahead for the latter, judging from the former’s investments.
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