Bloomberg News

Singapore Stocks: Amtek, Ezion, Metro, STX OSV, Tiger Airways

November 15, 2011

Nov. 15 (Bloomberg) -- Singapore’s Straits Times Index fell 0.3 percent to 2,820.47 as of 2:18 p.m. local time. Two stocks dropped for each 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 names.

Amtek Engineering Ltd. (AMTK SP), a supplier of precision components to companies including Sony Corp., sank 4.2 percent to 57 Singapore cents. CIMB Group Holdings Bhd cut its rating to “neutral” from “outperform,” citing a “disappointing” 28 percent decline in the company’s first-quarter net income.

Consciencefood Holdings Ltd. (CSF SP), an Indonesia-based instant-noodle maker, surged 6.2 percent to 18.9 Singapore cents after third-quarter net income almost tripled on a 30 percent rise in sales.

Ezion Holdings Ltd. (EZI SP), a provider of marine logistics and support services, gained 2.5 percent to 62.5 Singapore cents. The company reported a 70 percent climb in third-quarter net income from a year earlier. It also said it won a $94 million maintenance contract to service oil and gas platforms in Southeast Asia.

Metro Holdings Ltd. (METRO SP), the operator of department stores in Singapore and China, slid 0.8 percent to 65 Singapore cents after posting a second-quarter loss.

STX OSV Holdings Ltd. (SOH SP), the world’s biggest maker of oil-rig support vessels by revenue, rose 1.8 percent to S$1.125. DMG & Partners Securities maintained its “buy” rating on the stock, citing earnings that exceeded the brokerage’s estimate. STX OSV reported yesterday that third-quarter net income more than doubled to 374 million Norwegian krone ($65.4 million).

Tiger Airways Holdings Ltd. (TGR SP), the budget carrier partly owned by Singapore Airlines Ltd. (SIA SP), dropped 2.9 percent to 66 Singapore cents. The company reported a second- quarter loss of S$49.9 million ($38.7 million), compared with a profit of S$14.1 million in the year-earlier period.

--Editor: Nick Gentle, Jim Powell.

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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