Bloomberg News

Singapore Stocks: CapitaLand, City Developments, STATS ChipPAC

December 07, 2011

Dec. 7 (Bloomberg) -- Singapore’s Straits Times Index gained 0.5 percent to 2,763.32 as of 10:23 a.m. local time. Three stocks advanced for each that fell in the benchmark gauge of 30 companies.

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

CapitaLand Ltd. (CAPL SP), Southeast Asia’s biggest developer, climbed 2 percent to S$2.60. The company said it agreed to sell its entire 100 percent stake in Shanghai CapitaLand Xin Chuang Real Estate Development Co. for 852 million yuan ($134.5 million).

City Developments Ltd. (CIT SP), Singapore’s second-biggest homebuilder, added 1.1 percent to S$10.12. A consortium comprising of City Developments and its parent Hong Leong Group submitted the top bid of S$396 million ($309 million) for residential site on Alexandra Road, the Business Times reported, citing a government statement.

Jasper Investments Ltd. (JASP SP), a provider of oil and gas drilling services, jumped 9.8 percent to 6.7 Singapore cents after a unit of Keppel Corp. (KEP SP) increased its stake in the company to 5.9 percent from 4.9 percent previously.

STATS ChipPAC Ltd. (STAT SP), the chip-testing and packaging company partly owned by Temasek Holdings Pte, fell 2.4 percent to 41.5 Singapore cents. The company said revenue may fall by about 7 percent in the fourth quarter compared to the previous three months as flooding in Thailand has shut its factory there since October.

--Editor: John McCluskey

To contact the reporter on this story: Jonathan Burgos in Singapore at

To contact the editor responsible for this story: Nick Gentle at

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