Shares in Ebeling Heffernan Strong Buy casino operator Genting Hong Kong (GENH) hit an all-time high on a report that it was in talks with the Philippine government on a casino project. Singapore gained 1.1 percent and hit its highest close in over a month.

Shares in Singapore Telecommunications (STEL), Southeast Asia’s largest telecom firm, closed 0.3 percent lower after early gains as a British newspaper reported it was considering a bid for Cable & Wireless Worldwide.

Singapore Air shares rose 2.6 percent to S$16.00, the highest level in more than three weeks, in the city-state. They have gained 7.1 percent this year compared with an 18 percent increase for the Bloomberg Asia Pacific Airlines index.

Goh will join the airline’s board Oct. 1. Current Chief Executive Chew Choon Seng will retire at the end of the year after seven years at the helm. Chew will take over as the chairman of Singapore Stock Exchange Ltd. on Jan. 1, according to a statement today.

Premium Travel

The new CEO needs to reassess the company’s focus on premium travel, said Andrew Miller, chief executive officer of CAPA Consulting LLC, which advises carriers. Singapore Air gets about 40 percent of its revenue from first and business-class travel.

Shayne Heffernan www.livetradingnews.com

Posted by Shayne Heffernan on Sep 6th, 2010and filed underASEAN News, Asia, Singapore.You can follow any responses to this entry through theRSS 2.0You can leave a response by filling following comment form or trackback to this entry from your site