Bloomberg News

Singapore Stocks: Dyna-Mac, Neptune Orient Lines, Wilmar

February 22, 2012

Feb. 22 (Bloomberg) -- Singapore’s Straits Times Index slipped 1 percent to 2,995.59 at the close. Two shares fell 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 company names.

Dyna-Mac Holdings Ltd. (DMHL SP), a provider of offshore engineering services partly owned by Keppel Corp. (KEP SP), dropped 7.3 percent to 51 Singapore cents after saying fourth- quarter revenue tumbled 80 percent to S$11.8 million ($9.4 million) from a year earlier.

Neptune Orient Lines Ltd. (NOL SP), Southeast Asia’s biggest container carrier, declined 4 percent to S$1.425 in anticipation of disappointing fourth-quarter earnings after the market close. The company posted a loss of $320.4 million, exceeding analyst estimates of $123.6 million.

Tiger Airways Holdings Ltd. (TGR SP), the budget carrier partly owned by Singapore Airlines Ltd. (SIA SP), rose 1.9 percent to 82 Singapore cents. DBS Group Holdings Ltd. raised its rating to “buy” from “hold,” saying earnings may recover in the next financial year ending March 2013.

Wilmar International Ltd. (WIL SP) slumped 11 percent to S$5.22 after the world’s biggest palm-oil processer posted earnings that missed analysts’ estimates. Fourth-quarter profit rose 57 percent from a year earlier to $500 million, Wilmar said. That compares with the $519.8 million average estimate of six analysts compiled by Bloomberg.

--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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