Bloomberg News

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

May 10, 2012

Singapore’s Straits Times Index (FSSTI) added 0.1 percent 2,903.60 at the close, erasing earlier losses of as much as 0.5 percent. 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) slid 2.2 percent to S$1.135 after the owner of Asia’s No. 3 container line posted a first-quarter loss of $254 million, its fifth straight quarterly loss, as rising cargo rates failed to offset higher fuel costs. The result is wider than the $188.3 million loss estimated by analysts surveyed by Bloomberg.

Singapore Airlines Ltd. (SIA) declined 2.8 percent to S$10.29 after the world’s second-largest carrier by market value reported a fourth-quarter loss of S$38.2 million ($31 million), swinging from net profit of S$171 million a year earlier. The result missed the average estimate of a S$119 million gain by six analysts in a Bloomberg survey.

Singapore Telecommunications Ltd. (ST SP) advanced 1.6 percent to S$3.21 after Southeast Asia’s biggest phone company’s fourth-quarter profit rose 30 percent to S$1.29 billion from a year earlier, exceeding the S$966 million estimate of analysts surveyed by Bloomberg.

United Overseas Bank Ltd. (UOB) gained 2.2 percent to S$18.60 after Southeast Asia’s third-largest lender by assets said first-quarter net income rose 12 percent to S$688 million from a year earlier, beating the S$626 million average of seven analyst polled by Bloomberg.

Wilmar International Ltd. (WIL) slumped 9.2 percent to S$4.27 after the world’s biggest palm-oil processor said first-quarter net income declined 34 percent to $255.9 million on losses from oilseeds, grains and sugar. The result beat the $441 million loss estimate of five analysts surveyed 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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