Bloomberg News

Singapore Stocks: CapitaLand, Marco Polo Marine, Singapore Air

November 27, 2011

Nov. 25 (Bloomberg) -- Singapore’s Straits Times Index dropped 1.2 percent to 2,643.93 at the close. All but two shares fell in the index of 30 companies. The gauge declined for the fourth straight week, sliding 3.2 percent.

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

China developers: China’s housing market remains challenging as developers offer more discounts to lure buyers, Joy Wang, a Singapore-based analyst at JPMorgan Chase & Co., wrote in a note clients after visiting CapitaLand Ltd.’s projects in the mainland.

CapitaLand (CAPL SP), Southeast Asia’s biggest developer, slipped 2 percent to S$2.43. Yanlord Land Group Ltd. (YLLG SP), a China-based developer, fell 4.2 percent to S$1.04. Guocoland Ltd. (GUOL SP), a Singapore-based developer that counts China as its biggest market, declined 1.8 percent to S$1.61.

Palm-oil producers: Crude palm-oil futures for February delivery decreased as much as 0.9 percent in Kuala Lumpur today, heading for its fifth day of decline.

Wilmar International Ltd. (WIL SP), the world’s largest palm-oil processor, slid 1.6 percent to S$4.98. Golden Agri- Resources Ltd. (GGR SP), the world’s second-biggest palm-oil producer by sales, slid as much as 1.5 percent to 66 Singapore cents.

Marco Polo Marine Ltd. (MPM SP), a shipping and shipbuilding company, lost 1.5 percent to 33 Singapore cents after reporting a 9 percent decline in full-year net income to S$17.3 million ($13.2 million).

Singapore Airlines Ltd. (SIA SP), the world’s second- biggest carrier by market value, dropped 2 percent to S$10.05. Major Asian airports continued to post declines in air freight handled last month, with Hong Kong reporting a 10 percent decline from a year earlier and Tokyo slumping 11 percent, according to data compiled by Bloomberg News.

--Editor: Nick Gentle

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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