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Roundup: Singapore stocks end up 0.16 pct

Xinhua, July 14, 2015 Adjust font size:

Singapore shares closed 0.16 percent higher on Tuesday as investors hoped Greece's conditional bailout agreement would bring to an end to that country's debt crisis.

The terms imposed by Athens' international lenders led by Germany in all-night talks at an emergency summit required Greece' s leftwing Prime Minister Alexis Tsipras to abandon his pledge to end austerity. Tsipras will face a showdown with members of his own party later on Tuesday over the agreement under which Greece can get a possible 86 billion euros over three years if it can satisfy its European partners to meet their conditions.

Singapore's benchmark Straits Times Index rose 5.28 points to 3, 316.50 points. Trading volume was 1.22 billion shares worth 892 million Singapore dollars. Advancers slightly outnumbered decliners 221 to 216, while 524 stocks did not move.

Nam Cheong Limited shed 1.8 percent to 27.5 Singapore cents. It is issuing 75 million Singapore dollars worth of 6.5 percent three- year fixed rate notes at par under its 600 million Singapore dollar multi currency medium term note program. The notes are expected to be issued on July 23, 2015, and to mature on July 23, 2018. Net proceeds from the issue will be used to partly refinance Nam Cheong's 110 million Singapore dollar 6 percent fixed rate notes due November 5, 2015.

Roxy-Pacific Holdings Limited closed flat at 51.5 Singapore cents. It issued the first set of notes from its recently established 500 million Singapore dollar debt issuance program. It will issue 60 million Singapore dollar 4.5 percent three-year notes at par on July 20, 2015, which mature on July 20, 2018. Net proceeds of these Series 1 notes will be used for general corporate purposes, such as repayment or refinancing of existing borrowings, financing investments, general working capital or capital expenditure.

Among the top gainers, Jardine Matheson rose 0.2 percent to 54. 10 U.S. dollars, whereas Jardine Cycle and Carriage became one of the top losers by falling 1.5 percent to 31.52 Singapore dollars. (1 U.S. dollar equals to 0.906 Euros and 1.36 Singapore dollars) Endi