Bloomberg News

Singapore Stocks: DBS, Hongkong Land, Pacific Andes, Stamford

February 12, 2012

Feb. 10 (Bloomberg) -- Singapore’s Straits Times Index gained 0.2 percent to 2,988.13 as of 10:31 a.m. local time, heading for its sixth weekly advance. Four shares rose for every three that 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.

DBS Group Holdings Ltd. (DBS SP) added 0.7 percent to S$13.64 after Southeast Asia’s biggest bank reported fourth- quarter net income rose 7.8 percent from a year earlier to S$731 million ($585 million). That beat the S$693.1 million average of seven analysts’ estimates compiled by Bloomberg.

Hongkong Land Holdings Ltd. (HKL SP), one of the biggest office landlords in the Chinese territory, rose 2 percent to $5.65. Credit Suisse Group AG reiterated its “outperform” rating on the stock, saying earnings may recover this year as the company profits from completed residential projects and renews leases on 25 percent of its office space.

Pacific Andes Resources Development Ltd. (PAH SP) climbed 6.1 percent to 26 Singapore cents after the supplier of frozen seafood said first-quarter net income increased 39 percent from a year earlier to HK$139.6 million ($18 million).

Stamford Land Corp. (STL SP) sank 4.4 percent to 54.5 Singapore cents after the owner of hotels and travel agencies said nine-month net income declined 37 percent from a year earlier to of S$35.2 million.

--Editor: Jason Clenfield.

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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