Bloomberg News

Singapore Stocks: Global Logistic, Noble Group, Sembcorp Marine

December 20, 2011

Dec. 20 (Bloomberg) -- Singapore’s Straits Times Index dropped 0.1 percent to 2,614.45 at the close. About three shares rose for every two that fell in the 30-member gauge today.

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

Global Logistic Properties Ltd. (GLP SP), a unit of the Government of Singapore Investment Corp., gained 1.5 percent to S$1.665. The owner of industrial properties said it and China Investment Corp. agreed to buy 15 warehouses in Japan for 122.6 billion yen ($1.6 billion) from LaSalle Investment Management.

Noble Group Ltd. (NOBL SP), the largest shareholder of Australia’s Gloucester Coal Ltd., climbed 4.5 percent to S$1.155, the biggest advance since Dec. 1. Yanzhou Coal Mining Co., China’s fourth-biggest producer, plans to acquire Gloucester Coal for at least $2 billion, a person with knowledge of the matter said.

Sembcorp Marine (SMM SP), the world’s second-largest builder of oil platforms, added 1.1 percent to S$3.73. The company said it won a contract, valued at $140 million, to convert a ship into an accommodation and repair vessel for Equinox Offshore Accommodation Ltd.

--Editor: 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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