Singaporen[SGX] Shares end higher on Friday

SGX shares ended 0.21% higher on Friday. The STI gained 7.05 points to close at 3,426.22.

About 1.03b shares changed hands. Gainers beat losers 242 to 183.

SGX: Shares open higher on Friday

SINGAPORE share prices opened higher on Friday with the Straits Times Index up 7.19 points to 3,426.36.
Volume was 49.2 million shares worth S$125.2 million.
Gainers outnumbered losers 104 to 48.

SGX issues 'trade with caution' note on United Engineers

THE Singapore Exchange (SGX) issued a "trade with caution" note on United Engineers on Friday in view of the substantial 7.52 per cent increase in its share price on Thursday.

United Engineers has responded on Friday that other than the announcements relating to discussions by controlling shareholders previously announced in August last year and February this year, "it was not aware of any other reasons that could possibly explain the trading in its securities".

The group had disclosed previously that its controlling shareholders, Oversea-Chinese Banking Corporation Ltd and Great Eastern Holdings Ltd, have been approached by a party in connection with a possible transaction relating to their combined stakes in United Engineers and WBL Corporation Ltd. It had said that this may or may not lead to an offer for the shares of the group and WBL.

The SGX said on Friday that shareholders and potential investors should exercise caution when dealing in the securities. "We also wish to highlight that this is the third query on unusual trading activities in the shares of United Engineers Ltd in the past six months," the SGX added.

Singapore December retail sales up 2.6% on strong vehicle sales

[SGX] Retail sales in Singapore rose 2.6 per cent in December compared with the previous year but only because sales of cars and other vehicles jumped 41 per cent in the month, accrding to figures from the Department of Statistics on Friday.

As in the previous month, the car market has been hot because some owners who bought cars between 2004 and 2008 - when the supply of certificates of entitlement was high - will soon have to deregister them. This means there are now more buyers out looking for replacement vehicles.

Singapore Q4 GDP growth seen likely to be revised higher

[SGX] Singapore's economy likely expanded more than initially estimated in the fourth quarter, a Reuters poll showed, after the city-state's manufacturing output in December held up better than expected.

According to the median forecast of 11 economists polled by Reuters, gross domestic product (GDP) in the fourth quarter likely expanded 1.7 per cent from a year earlier, faster than the 1.5 per cent growth in the advance estimate of GDP released on Jan. 2.

The poll also showed that fourth-quarter GDP probably grew 2.1 per cent from the third quarter on an annualised, seasonally-adjusted basis. That would beat the 1.6 per cent pace in the government's advance estimate.

Economists said fourth-quarter growth was likely to be revised higher given data late last month which showed manufacturing output in December fell less than expected on year-on-year terms, and held up better than what was implied by the October-December GDP advance estimate.