Bloomberg News

Singapore Stocks: CapitaLand, Nera Telecom, Olam, Yangzijiang

October 17, 2011

Oct. 17 (Bloomberg) -- Singapore’s Straits Times Index gained 1.1 percent to 2,775.47 at the close. More than eight 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.

Commodity suppliers: The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities ranging from copper to corn, climbed 2 percent in New York on Oct. 14.

Noble Group Ltd. (NOBL SP), a Hong Kong-based commodities trader, gained 2.4 percent to S$1.485. Olam International Ltd. (OLAM SP), a Singapore-based supplier of agricultural commodities, added 3.7 percent to S$2.52.

Developers: The nation’s biggest real estate companies advanced after a government report showed private home sales increased to 1,631 units in September from 1,351 units the previous month. “While prices could face downward pressure if external conditions take another dip and dampen sentiment, we can expect a strong rebound given underlying strong housing demand,” Chua Yang Liang, Singapore-based head of research at real estate brokerage Jones Lang LaSalle Inc., said in an e-mail.

CapitaLand Ltd. (CAPL SP), Southeast Asia’s biggest developer, gained 1.2 percent to S$2.55. City Developments Ltd. (CIT SP), Singapore’s second-largest developer, climbed 1 percent to S$10.06. Wing Tai Holdings Ltd. (WINGT SP) increased 2 percent to S$1.275.

Nera Telecommunications Ltd. (NERT SP), a supplier of telecommunication equipment, rose 2.9 percent to 36 Singapore cents. The company said third-quarter gross profit increased 28 percent from a year earlier to S$10.7 million ($8.5 million).

Van Der Horst Energy (VDHE SP), a maker of biodiesel, jumped 6.4 percent to 13.3 Singapore cents. The company said first-quarter net income tripled to S$1.25 million.

Yangzijiang Shipbuilding (Holdings) Ltd. (YZJ SP), China’s third-largest shipyard outside state control, rose 1.6 percent to 96.5 Singapore cents. The company said it’s confident of reporting net income growth of no less than 30 percent for the first nine months of the year.

--Editors: Nick Gentle, 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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