Bloomberg News

Singapore Stocks: Broadway, Hi-P, Wheelock, Yangzijiang, Ziwo

February 21, 2012

Feb. 21 (Bloomberg) -- Singapore’s Straits Times Index added 0.1 percent to 3,025.07 at the close. 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, surged 23 percent to 49 Singapore cents. CIMB Group Holdings Bhd raised its rating on the stock to “trading buy” from “underperform,” saying earnings may rebound this year.

Hi-P International Ltd. (HIP SP), an electronics manufacturer whose clients include BlackBerry-maker Research in Motion Ltd., jumped 10 percent to 99 Singapore cents, extending gains for a fourth day. The stock climbed 20 percent last week on speculation it may supply metal casings for Apple’s iPhone 5. The company said yesterday it’s “ working on potential new metal casing and parts projects with some of its customers.”

Wheelock Properties (S) Ltd. (WP SP) rose 2.2 percent to S$1.66 after the real-estate company reported fourth-quarter net income climbed to S$121 million ($97 million) from S$117.3 million a year earlier.

Yangzijiang Shipbuilding Holdings Ltd. (YZJ SP), China’s third-largest shipyard outside state control, climbed 5 percent to S$1.375 after winning $206.2 million in contracts for seven vessels.

Ziwo Holdings Ltd. (ZIWO SP), a supplier of fabric for sportswear, slumped 14 percent to 14.2 Singapore cents after saying its expects a “significant drop” in fourth-quarter net income due to weaker sales.

--Editor: Jim Powell.

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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