Bloomberg News

Singapore Stocks: CapitaMalls Asia, Cosco Corp., Koon, Swiber

September 30, 2011

Sept. 30 (Bloomberg) -- Singapore’s Straits Times Index slipped 1.2 percent to 2,675.16 at the close, extending this week’s losses to 0.9 percent. More than two stocks dropped for each that rose in the index of 30 companies.

The gauge declined 7.3 percent this month, extending a quarterly slump to 14 percent, the most since December 2008.

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

Chinese shipyards: China-based shipbuilders listed in Singapore fell as a report by the National Development and Reform Commission showed new orders for Chinese shipyards in August declined 60 percent from a year earlier.

Cosco Corp. Singapore Ltd. (COS SP), the shipbuilding unit of China’s biggest shipping company, dropped 1.1 percent to 93 Singapore cents. Yangzijiang Shipbuilding Holdings Ltd. (YZJ SP), China’s third-largest shipyard outside state control, decreased 4.3 percent to 89 Singapore cents.

CapitaMalls Asia Ltd. (CMA SP), owner of shopping malls in Singapore, Japan, China, India and Malaysia, gained 1.7 percent to S$1.22. CapitaMalls said today it will start trading its shares in Hong Kong on Oct. 18 as it seeks to grow investments in China.

Koon Holdings Ltd. (KNH SP), a construction company, surged 9.1 percent to 24 Singapore cents. The company said it won contracts, valued at S$54 million, to supply precast concrete to a public housing project and a private industrial development.

Swiber Holdings Ltd. (SWIB SP), a provider of offshore logistic services, gained 2 percent to 51 Singapore cents. The company said it won contracts, valued at $69 million, for the installation of subsea pipeline and vessel chartering.

--Editors: 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: Nick Gentle at ngentle2@bloomberg.net


Tim Cook's Reboot
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus