Bio-Treat update
Mon Jan 23, 2006 10:12 PM ET
SINGAPORE, Jan 24 (Reuters) – Singapore’s Straits Times Index was up 0.49 percent to 2,376.52 points at 0249 GMT.
Stocks and factors to watch:
- Bio-Treat Technology (BIOT.SI: Quote, Profile, Research) rose 4.8 percent to S$1.09 with more than 9 million shares traded after the firm said that it has won a wastewater treatment project worth 500 million yuan ($62 million) awarded by the Suzhou municipal government.
Following news of the deal, broker DBS Vickers upgraded its investment call on the China-based water treatment firm to “buy” from “hold” with a price target of S$1.23 a share.
“The market is reacting to these two pieces of good news,” said a dealer at a local brokerage, referring to the Suzhou project and broker upgrade.
The counter only closed at 1.060 instead of high of 1.100
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