Bloomberg News

Singapore Stocks: CapitaLand, Keppel Corp., Neptune Orient Lines

February 20, 2012

Feb. 20 (Bloomberg) -- Singapore’s Straits Times Index added 0.7 percent to 3,021.19 at the close. Four shares advanced for each 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.

Developers: Shares rose after Nomura Holdings Inc. said the pool of homebuyers may exceed the supply of private residences in the city as household incomes increase.

CapitaLand Ltd. (CAPL SP), Southeast Asia’s biggest developer, climbed 3.5 percent to S$2.99. Keppel Land Ltd. (KPLD SP), the real estate unit of Keppel Corp., gained 2.2 percent to S$3.20. City Developments Ltd. (CIT SP), Singapore’s second- largest homebuilder, rose 1.4 percent to S$11.13.

ComfortDelGro Corp. (CD SP), the city-state’s biggest operator of buses and taxis, gained 1 percent to S$1.52. The government will help public transport operators increase their bus fleets by 20 percent over the next five years by funding the cost of 550 such vehicles, Finance Minister Tharman Shanmugaratnam said last week.

Keppel Corp. (KEP SP), the world’s biggest oil-rig builder, advanced 1.8 percent to S$10.96 after selling 39 percent of its Floatel International Ltd. unit for 776.7 million Norwegian krone ($137 million).

Neptune Orient Lines Ltd. (NOL SP) climbed 3.5 percent to S$1.495, tracking a regional advance by container-shipping lines. Hong Kong-listed Orient Overseas International Ltd. said it will raise rates on routes from Northern Europe to Asia and Maersk Line Ltd., the world’s No. 1 container carrier, said it will cut capacity by 9 percent in Asia-Europe routes to shore up profit.

Oversea-Chinese Banking Corp. (OCBC SP) added 1.1 percent to S$8.95 after Southeast Asia’s second-largest bank said fourth-quarter profit rose 18 percent to S$594 million ($475 million) from a year earlier. The result beat the S$574.3 million estimates of analysts surveyed by Bloomberg.

--Editors: Jim Powell, Nick Gentle

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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