Bloomberg News

Singapore Stocks: Neptune Orient Lines, SATS, Suntec, Wilmar

October 27, 2011

Oct. 27 (Bloomberg) -- Singapore’s Straits Times Index gained 2.8 percent to 2,847.57 at the close, the highest since Sept. 8. All but one stock in the index of 30 companies advanced.

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

Export-related stocks: Exporters and shipping companies advanced after orders for U.S. durable goods excluding transportation equipment rose in September by the most in six months, indicating manufacturing will help sustain an economy hobbled by 9.1 percent unemployment.

Amtek Engineering Ltd. (AMTK SP), a supplier of precision components to companies including Sony Corp., increased 5 percent to 73.5 Singapore cents. Hi-P International Ltd. (HIP SP), an electronics manufacturer that gets about 44 percent of sales from the U.S., added 0.9 percent to 57 Singapore cents. Neptune Orient Lines Ltd. (NOL), Southeast Asia’s largest container carrier, climbed 5.5 percent to S$1.155.

Palm-oil producers: Crude palm-oil futures for January delivery increased as much as 1.9 percent in Kuala Lumpur today, heading for its fourth day of gains.

Golden Agri-Resources Ltd. (GGR SP), the world’s second- biggest palm-oil producer by sales, rose 3.9 percent to 66.5 Singapore cents. Wilmar International Ltd. (WIL SP), the world’s largest palm-oil processor, increased 2.3 percent to S$5.31.

SATS Ltd. (SATS SP), a airport ground-handling services provider partly owned by Temasek Holdings Pte, advanced 3 percent to S$2.42. The company said it agreed to sell the Daniels Group, its U.K. food business, to Hain Celestial Group Inc. for 151 million pounds ($241.4 million). Hain may pay as much as 13 million pounds in deferred consideration over the next two years, it said.

Suntec Real Estate Investment Trust (SUN SP), an office and shopping mall landlord, gained 1.7 percent to S$1.225. Daiwa Securities Group Inc. raised its rating to “buy” from “outperform,” saying the company’s increased stake in the Suntec City convention center will boost earnings.

--Editors: Darren Boey, Lars Klemming

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


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