Bloomberg News

Singapore Stocks: CapitaLand, Neptune Orient Lines, Wilmar

November 24, 2011

Nov. 24 (Bloomberg) -- Singapore’s Straits Times Index closed little changed at 2,677.15. Three shares rose for every two 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 February delivery decreased as much as 2.2 percent in Kuala Lumpur today, heading for its fourth day of decline.

Wilmar International Ltd. (WIL SP), the world’s largest palm-oil processor, slid 1.4 percent to S$5.06. First Resources Ltd. (FR SP), an Indonesian plantation company, lost 0.7 percent to S$1.495.

CapitaLand Ltd. (CAPL SP), Southeast Asia’s biggest property developer, added 0.8 percent to S$2.48. The company said it sold 350 apartment units at a new residential project in Singapore’s eastern town of Bedok.

Neptune Orient Lines Ltd. (NOL SP), Southeast Asia’s biggest container carrier, gained 2 percent to S$1.025. Samsung Securities initiated coverage of the stock with a “buy” rating and a share-price forecast of S$1.50, saying earnings will recover in the next two years.

StarHub Ltd. (STH SP), Singapore’s second-largest phone company, rose 1.4 percent to S$2.92. CIMB Group Holdings Bhd. maintained its “outperform” rating on the stock, citing its attractive dividend yield of 6 percent.

--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 at ngentle2@bloomberg.net


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