Bloomberg News

Singapore Stocks: Beyonics, Keppel, Neptune Orient Lines, TTJ

September 29, 2011

Sept. 29 (Bloomberg) -- Singapore’s Straits Times Index gained 0.3 percent to 2,708.13 at the close, erasing losses of as much as 1.2 percent.

The gauge is headed for a 6.1 percent decline this month, extending the quarterly drop to 13 percent, the most since December 2008. Four stocks fell for every three that rose in the index of 30 companies.

The following shares were among the most active in the market. Stock symbols are in parentheses after the company name.

Export-related companies: Shares of exporters, port operators and shipping companies gained after a report showed orders for U.S. capital goods climbed in August by the most in three months, a sign business investment continues to support a recovery in the world’s biggest economy.

Beyonics Technology Ltd. (BT SP), the provider of electronics manufacturing services that gets about 36 percent of sales from the U.S., climbed 4.3 percent to 17.1 Singapore cents. Neptune Orient Lines Ltd. (NOL SP), the container carrier that counts the Americas as its biggest market, jumped 4.6 percent to S$1.135. Hutchison Port Holdings Trust (HPHT SP), the owner of port facilities in Hong Kong and China, gained 1.6 percent to 63.5 U.S. cents.

Palm-oil producers: Crude palm-oil futures for December delivery dropped as much as 2.1 percent in Kuala Lumpur today, heading for its second day of decline.

Golden Agri-Resources Ltd. (GGR SP), the world’s second- biggest palm-oil producer by sales, slid 0.8 percent to 62.5 Singapore cents. Indofood Agri Resources Ltd. (IFAR SP), the plantation unit of Indonesia’s No. 1 noodle maker, fell 0.8 percent to S$1.26.

Shipyards: The world’s biggest oil rig builders declined after UOB-Kay Hian Holdings Ltd. cut its rating on the sector to “market weight” from “overweight.” Declining crude oil prices may reduce contract awards, analysts including Nancy Wei wrote in a note to clients.

Keppel Corp. (KEP SP), the world’s No. 1 maker of oil platforms, fell 1.6 percent to S$7.94 after UOB reduced its share-price forecast to S$9.60 from S$13 and maintained its “buy” rating. Smaller rival SembCorp Marine Ltd. (SMM SP) slid 1.5 percent to S$3.35 after the rating was cut to “hold” from “buy.” Cosco Corp. Singapore Ltd. (COS SP), a Chinese shipbuilder, dropped to 1.6 percent to 94 Singapore cents as the brokerage recommended investors “sell” the stock.

TTJ Holdings Ltd. (TTJ SP), a Singapore-based supplier of structural steel, advanced 5.6 percent to 15 Singapore cents. The company said full-year net income increased to S$14.4 million ($11 million) from S$6.8 million a year earlier.

--Editor: John McCluskey, Jason Clenfield.

To contact the reporter on this story: Jonathan Burgos in Singapore at jburgos4@bloomberg.net.

To contact the editor responsible for this story: John McCluskey at j.mccluskey@bloomberg.net.


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