Bloomberg News

Singapore Stocks: Interra Resources, Golden Ocean Group, Swiber

March 15, 2012

Singapore’s Straits Times Index (FSSTI) slipped 0.2 percent to 3,020.35 of 12:03 p.m. local time, with three stocks falling for each that rose on the 30-member gauge.

The following were among the most active shares in the market. Stock symbols are in parentheses after company names.

Golden Ocean Group Ltd. (GOGL) rose 6.1 percent to S$1.14 after the Bermuda-based shipping company said it’s selling its stake in Kightsbridge Tankers Ltd.

Hongkong Land Holdings Ltd. (HKS) (HKL SP), a developer that gets 70 percent of its revenue from Hong Kong, Macau and China, slipped 0.5 percent to S$5.75. The stock slid as mainland property stocks extended declines after Chinese Premier Wen Jiabao said the country’s home prices are far from reasonable, denting hopes real-estate curbs will be eased.

Interra Resources Ltd. (ITRR) , a petroleum exploration company, gained 4.8 percent to 32.5 Singapore cents. The company said it started drilling a development well in Myanmar. Costs are comparatively low and the results of the drilling will likely be ready in about four weeks, the company said.

Swiber Holdings Ltd. (SWIB) , a provider of engineering services, fell 5.7 percent to 66.5 Singapore cents after the company said it plans to raise S$62.5 million ($49 million) by selling 101.1 million shares at 63.5 Singapore cents each.

To contact the reporter on this story: Jason Clenfield in Tokyo at jclenfield@bloomberg.net

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net


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