Bloomberg News

Singapore Stocks: ASL Marine, Swiber, Tiger Airways, Wilmar

October 12, 2011

Oct. 12 (Bloomberg) -- Singapore’s Straits Times Index increased 1.7 percent to 2,737.75 at the close, gaining for a fifth day, the longest-winning streak since July 4. About nine stocks rose for each that fell 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 names.

Palm-oil producers: Crude palm-oil futures for December delivery gained as much as 2.5 percent in Kuala Lumpur today, heading for its third day of advance.

Golden Agri-Resources Ltd. (GGR SP), the world’s second- biggest palm-oil producer by sales, increased 4.2 percent to 62 Singapore cents. Wilmar International Ltd. (WIL SP), the world’s largest palm-oil processor, advanced 3.1 percent to S$4.97.

First Resources Ltd. (FR SP), an Indonesian plantation company, rose 2.8 percent to S$1.285. The company said crude palm oil output in September increased 35 percent from a year earlier.

ASL Marine Holdings Ltd. (ASL SP), a shipbuilder, climbed 4.3 percent to 49 Singapore cents. The company said it won contracts, valued at S$267 million ($209 million), for the construction of two platform supply vessels, one dredger and two barges.

China XLX Fertiliser Ltd. (CXLX SP), a maker of urea and methanol, surged 11 percent to 29.5 Singapore cents. DBS Group Holdings Ltd. raised its rating on the stock to a “buy” from “fully valued,” saying it expects the company to post a positive earnings surprise in the third quarter.

Swiber Holdings Ltd. (SWIB SP), a provider of offshore logistic services, advanced 9 percent to 54.5 Singapore cents. The company said it won two contracts, valued at $102 million, to install subsea pipelines for customers in Southeast Asia.

Sky China Petroleum Services Ltd. (SKYP SP), a provider of oilfield drilling services, jumped 15 percent to 7.7 Singapore cents. Chief Executive Officer Liu Qingzeng bought an additional 1 million shares, raising his stake in the company to 22.1 percent, it said. Sky China shares slumped 34 percent in the past two days after its external auditor, Ernst & Young LLP, resigned.

Tiger Airways Holdings Ltd. (TGR SP), the budget carrier partly owned by Singapore Airlines Ltd. (SIA SP), slipped 1.5 percent to 66 Singapore cents. The company said it served 15 percent fewer passengers in September from a year earlier.

--Editors: Jim Powell, John McCluskey.

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 in Hong Kong at ngentle2@bloomberg.net


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