Bloomberg News

Singapore Stocks: DBS Group, Genting Singapore, SMRT Corp.

January 09, 2012

Jan. 9 (Bloomberg) -- Singapore’s Straits Times Index dropped 0.9 percent to 2,691.28 at the close. Eight shares declined for each that rose in the 30-member gauge.

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

DBS Group Holdings Ltd. (DBS SP), Southeast Asia’s biggest lender, slipped 0.8 percent to S$11.76. The bank said it expects to pay as much as S$500,000 ($384,852) to compensate customers hit by unauthorized withdrawals last week.

Genting Singapore Plc (GENS SP), a casino and theme park operator in the city-state, dropped 2.2 percent to S$1.53. UBS AG cut its rating to “neutral” from “buy,” saying the company’s profit growth may remain subdued in 2012.

SMRT Corp. (MRT SP), Singapore’s biggest operator of commuter trains, lost 0.8 percent to S$1.77. The company’s Chief Executive Officer Saw Phaik Hwa stepped down after the worst subway disruptions on record in the city led to calls for her resignation. Singapore will also review its regulatory and penalty framework following the disruptions, Transport Minister Lui Tuck Yew said.

TMC Education Corp. (TMCH SP), a provider of technical education and business management courses, slid 3.1 percent to 6.3 Singapore cents. The company said it expects to report a pretax loss in the six months ended December due to a decline in student enrolment.

--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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