Bloomberg News

Singapore Stocks: Genting, Hong Fok, Hyflux, Noble Group

March 23, 2012

Singapore’s Straits Times Index (FSSTI) added 0.4 percent to 2,990.08 at the close, trimming its weekly decline to 0.7 percent. Two shares rose 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.

Genting Singapore Plc (GENS) , Asia’s second-biggest casino operator, climbed 6.8 percent to S$1.74, its biggest advance since October 2010. RHB Capital Bhd raised its rating to “outperform” after the government awarded junket licenses to two Malaysian companies tasked to lure high spenders to Genting’s casino in the city-state.

Hong Fok Corp. (HFC) jumped 16 percent to 57 Singapore cents after the real-estate company proposed a one-for-five bonus issue.

Hyflux Ltd. (HYF) , Singapore’s largest publicly traded water treatment company, gained 1.4 percent to S$1.50. The company said it partnered with Japan’s Hitachi Ltd. and Itochu Corp. to build a $600 million seawater desalination plant in the Indian state of Gujarat.

Noble Group Ltd. (NOBL) , Asia’s biggest publicly traded commodities supplier by sales, added 1.1 percent to S$1.385. The company said it hired a syndicate of banks to help arrange a $1.5 billion loan.

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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