Bloomberg News

Singapore Stocks: Broadway Industrial, Neptune Orient, Noble

February 02, 2012

Feb. 2 (Bloomberg) -- Singapore’s Straits Times Index lost 0.1 percent to 2,901.04 at the close, erasing gains of as much as 0.7 percent. About the same number of shares rose and fell in the 30-member gauge.

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

Broadway Industrial Group Ltd. (BWAY SP), a supplier of packaging materials to Apple Inc. and maker of hard disk drive components, rallied 9 percent to 36.5 Singapore cents. DBS Group Holdings Ltd. raised its rating to “buy” from “hold,” saying earnings will recover this year.

Frasers Commercial Trust (FCOT SP), the owner of office buildings in Australia, Japan and Singapore, advanced 1.3 percent to 77.5 Singapore cents. The company said first-quarter distributable income to shareholders increased 22 percent from a year earlier to S$9.6 million ($7.7 million).

Leader Environmental Technologies Ltd. (LET SP), a supplier of equipment used in treating industrial waste, dropped 5.4 percent to 12.3 Singapore cents after saying fourth-quarter profit will be “significantly lower” because of delays in the release of government funds for projects in China.

Neptune Orient Lines Ltd. (NOL SP), Southeast Asia’s biggest container carrier, climbed 6.2 percent to S$1.45, extending gains for a third day, after U.S. economic data spurred optimism about world trade. Morgan Stanley reiterated its “overweight” rating, citing improving cargo rates.

Noble Group Ltd. (NOBL SP), a Hong Kong-based commodity supplier, rose 1.1 percent to S$1.37. Nomura Holdings Inc. maintained its “buy” rating, saying earnings will recover this year amid rising demand for energy and agricultural commodities.

See Hup Seng Ltd. (SHS SP), a Singapore-based shipbuilder, surged 9.8 percent to 28 Singapore cents. The company said a unit won a five-year contract to supply drums to an asphalt manufacturer.

--Editor: Jim Powell, Linus Chua

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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