Bloomberg News

Singapore Stocks: Neptune Orient, Singapore Air, SingTel, Wilmar

May 10, 2012

Singapore’s Straits Times Index (FSSTI) lost 0.2 percent to 2,894.32 as of 12:17 p.m. local time. About four shares rose for every three that fell on the 30-member gauge.

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

Neptune Orient Lines Ltd. (NOL SP) slid 1.7 percent to S$1.14 after the owner of Asia’s No. 3 container line posted a first-quarter net loss of $254 million, its fifth straight quarterly loss, as rising freight rates failed to offset higher fuel costs. That exceeds the $188.3 million average loss of three analysts’ estimates compiled by Bloomberg.

Singapore Airlines Ltd. (SIA) declined 2.1 percent to S$10.37 after the world’s second-largest carrier by market value reported a fourth-quarter net loss of S$38.2 million ($31 million), compared with a net profit of S$171 million a year earlier. That missed the average profit estimate of S$119 million by six analysts in a Bloomberg survey.

Singapore Telecommunications Ltd. (ST) added 1.3 percent to S$3.20 after Southeast Asia’s biggest phone company’s fourth- quarter profit rose 30 percent from a year earlier to S$1.29 billion, exceeding the S$966 million average of seven analysts’ estimates compiled by Bloomberg.

United Overseas Bank Ltd. (UOB) gained 0.6 percent to S$18.31 after Southeast Asia’s third-largest lender by total assets said first-quarter net income rose 12 percent from a year earlier to S$688 million, beating the S$626 million average of seven analyst estimates compiled by Bloomberg.

Wilmar International Ltd. (WIL) slumped 7.7 percent to S$4.34 after the world’s biggest palm-oil processor said first- quarter net income declined 34 percent to $255.9 million following losses at its oilseeds, grains and sugar businesses. That’s less than the $441 million average estimate of five analysts compiled by Bloomberg.

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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