Bloomberg News

Singapore Stocks: Olam, Singapore Air, Tiger Air, Yanlord Land

November 16, 2011

Nov. 16 (Bloomberg) -- Singapore’s Straits Times Index slipped 0.5 percent to 2,798.28 as of 11:06 a.m. local time. Three stocks fell 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.

Olam International Ltd. (OLAM SP), a supplier of agricultural commodities, sank 2.5 percent to S$2.38. OCBC Investment Research cut its rating to “hold” from “buy,” citing growing macro-economic uncertainties.

Singapore Airlines Ltd. (SIA SP), the world’s second- biggest carrier by market value, lost 0.5 percent to S$11.01. The company said it filled 76.7 percent of its seats in October, down from 79.6 percent a year earlier.

Tiger Airways Holdings Ltd. (TGR SP), the budget carrier partly owned by Singapore Airlines, jumped 5.3 percent to 69.5 Singapore cents after receiving approval to operate more flights in Australia.

Yandlord Land Group Ltd. (YLLG SP), a China-based developer, surged 12 percent to S$1.185, heading for its highest close since Aug. 3. Investors including billionaire Peter Lim, Wilmar International Ltd. Chairman Kuok Khoon Hong, and UOB-Kay Hian Holdings Ltd. Chairman Wee Ee Chao bought additional shares of Yanlord in the open market, the company said in a statement yesterday.

--Editor: 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 in Hong Kong at ngentle2@bloomberg.net


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