Singapore stock market financial news and announcements 20sept

- Singapore Exchange Ltd (SGX) has finalized changes to the minimum bid schedule for the securities market. The new schedule with reduced minimum bid sizes, to be implemented in January 2008, seeks to improve trading efficiency and market liquidity.

- DBS has announced its first-ever share buy-back programme, with up to S$400m worth of the bank’s shares to be bought back.

- The Hour Glass plans to open more stores in Hong Kong, Japan and Thailand, but will steer clear of mainland China and India. It also expects sales and earnings for 1H08 to surpass that of 1H07.

- Frasers plans to open 10 new gold standard serviced residences across China by 2009, half of them before the 2008 Beijing Olympics. These are part of the 23 new properties which Frasers said earlier this month it would open in the next 18 months.

- Lian Beng is placing out 40m new shares at 42.5 cents each. The new shares represent 8.08% of the firm’s enlarged share capital.

- SP Ausnet is reportedly close to a deal with Singapore Power to buy some assets of energy firm Alinta for A$4b.

- Burwill Holdings reported a 31.2% YoY increase in 1H07 revenue to HK$2.6b. Net profit,