Bloomberg News

Singapore Stocks: Genting, SC Global, UOL Group, Venture Corp.

February 27, 2012

Singapore’s Straits Times Index (FSSTI) decreased 1.1 percent to 2,946.78 at the close. Five shares for each that rose 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.

China XLX Fertiliser Ltd. (CXLX) climbed 4.2 percent to 37 Singapore cents after the maker of urea and methanol fertilizers said full-year net income increased 25 percent to 180.5 million yuan ($29 million).

Genting Singapore Plc (GENS) , one of two gambling operators in the city-state, fell 2.8 percent to S$1.59. A government review of the Casino Control Act may lead to the introduction of new rules aimed at further restricting the entry of Singaporeans and permanent residents in the casinos, Deutsche Bank AG said in a note to clients today.

SC Global Developments Ltd. (SCGD) slipped 2.7 percent to S$1.085 after the developer of high-end residential properties posted a fourth-quarter loss of S$18.6 million ($14.8 million), swinging from a profit of S$45.3 million a year earlier.

UOL Group Ltd. (UOL) lost 1.3 percent to S$4.73 after the real estate company said full-year net income dropped 12 percent to S$664.2 million.

Venture Corp. (VMS) , Singapore’s biggest electronics manufacturing services provider, gained 2.5 percent to S$8.07. DMG & Partners Securities Pte raised its rating to “buy” from “neutral,” saying earnings may recover this year.

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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