April 9, 2012 / 1:50 AM / 8 years ago

STOCKS NEWS SINGAPORE-TT International jumps on Lucrum deal

Shares of Singapore’s TT International Ltd surged more than 30 percent after the company signed a S$200 million ($159 million) agreement with private equity real estate firm Lucrum Capital for a warehouse retail project in the city-state.

TT International trades consumer electronics and also provides warehousing and logistics services.

TT International shares were up 34 percent at S$0.067 on volume of more than 38 million shares, about 9 times the average full-day volume traded over the past 30 days.

The shares have jumped more than 640 percent so far this year. In January, TT International said Lucrum Capital had proposed to invest at least S$200 million in the Big Box project in Jurong, western Singapore.

“This project is quite promising because Jurong is being developed as a commercial hub in Singapore. This announcement is positive because they have secured a partner,” said Wilson Liew, an analyst at Maybank Kim Eng.

For a related company statement, click: link.reuters.com/sek57s

0944 (0144 GMT)

(Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com)


8:47 STOCK NEWS SINGAPORE-Singapore index futures fall

Singapore index futures are 0.9 percent lower early on Monday, indicating a weak start for the benchmark Straits Times Index.

Asian shares fell on Monday as a sharp slowdown in U.S. jobs growth raised concerns about the strength of the world’s largest economy, making investors cautious ahead of more U.S. data and earnings as well as figures from China due this week.

Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com $1 = 1.2590 Singapore dollars

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