Bloomberg News

Singapore Stocks: Cosco Corp., Hi-P International, Osim, Wee Hur

May 03, 2012

Singapore’s Straits Times Index (FSSTI) slipped 0.2 percent to 3,000.94 at the close. About three shares fell for every two 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.

Cosco Corp. Singapore Ltd. (COS) , a shipbuilding unit of China’s biggest shipping company, rose 1.4 percent to S$1.065. The company said it won a $200 million order from Mexico’s Cotemar SA for the construction of a semi-submersible accommodation vessel.

Hi-P International Ltd. (HIP) dropped 5 percent to 86.5 Singapore cents after the assembler of BlackBerry smartphones reported first-quarter net income tumbled 91 percent from a year earlier to S$1.5 million ($1.2 million)

Osim International Ltd. (OSIM) , the biggest maker of massage chairs in Asia outside of Japan, advanced 5.7 percent to S$1.29. Credit Suisse Group AG rated the stock a new outperform, the equivalent of buy, citing the company’s earnings growth.

Wee Hur Holdings Ltd. (WHUR) added 1.8 percent to 29 Singapore cents after the construction company said first- quarter net income tripled to S$4.6 million from S$1.5 million.

To contact the reporter on this story: Jonathan Burgos in Singapore at jburgos4@bloomberg.net

To contact the editor responsible for this story: John McCluskey at j.mccluskey@bloomberg.net


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