12:20 PM
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>>Singapore Shares open higher on Thursday:-
• Singapore shares opened 0.52 per cent higher on Thursday.
• The STI was up 15.06 points at 3,032.81.
• About 109.7 million shares were traded.
• Gainers beat losers 128 to 34.
>>Singapore Exchange toughens listing rules:-
• Singapore Exchange Ltd is toughening rules for companies looking to list on its main market in the wake of a series of accounting scandals at small Chinese firms listed on the bourse.
• Recent scandals at companies such as KXD Digital Entertainment have dealt a blow to the reputation of SGX-listed companies, and the exchange; that it was tightening its regulations to make it more attractive for larger firms to go public in the city state.
>>Singapore's OCBC sells F&N, APB stakes for US$2.55 bln:-
• OCBC, Singapore's second-biggest bank, and its insurance unit have agreed to sell their combined 18.1% stake in Fraser & Neave and an 8% stake in brewer Asia Pacific Breweries.
• OCBC Group would make a post-tax gain of about S$1.15 billion from the deal.
>>CIMB lowers CapitaMall Trust target:-
• CIMB Research said Singapore shopping mall owner CapitaMall Trust's Q2 earnings showed signs of weakness in shopper traffic and tenant sales growth, and lowered its target price on the stock to S$2.01 from S$2.02.
• By 0255 GMT, CapitaMall Trust units were down 0.8 per cent at S$1.95. They have gained 14.7 per cent this year, underperforming the FT ST Real Estate Investment Trust's 22% rise.
>>Maybank raises Keppel Land target price:-
• Maybank Kim Eng raised its target price for property developer Keppel Land Ltd to S$4.04 from S$3.65 and kept its 'buy' rating, on signs its sales in China are improving.
• By 0158 GMT, shares of Keppel were 1.5% higher at S$3.44, and have surged 55 percent so far this year, outperforming the FT ST Financial Index's 25.4% gains.
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