Bloomberg News

Singapore Stocks: Biosensors, CapitaLand, Fragrance, STX

May 15, 2012

Singapore’s Straits Times Index (FSSTI) added 0.4 percent to 2,876.70 at the close, erasing losses of 0.5 percent. More than 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.

Developers: Singapore’s April private home sales climbed to the highest in almost three years, government data released today showed. Buyers have been investing in smaller residential units, prompting policy makers to consider introducing measures to regulate the sale of so-called shoebox apartments.

CapitaLand Ltd. (CAPL) , Southeast Asia largest developer, rose 1.5 percent to S$2.69. Keppel Land Ltd. (KPLD) (KPLD), the real estate company partly owned by Keppel Corp., advanced 2.4 percent to S$2.94. |

Biosensors International Group Ltd. (BIG) , a maker of drug-coated stents used to treat blocked arteries, jumped 9.3 percent to S$1.23, the most since Oct. 27. Nomura Holdings Inc. reiterated its buy rating on the stock, saying the company will report increased earnings in the three years to March 2014.

Fragrance Group Ltd. (FRAG) advanced 7.1 percent to 45.5 Singapore cents after the hotel operator and real-estate company said first-quarter profit increased 55 percent to S$22.1 million ($18 million) from a year earlier. Separately, the company proposed a one-for-one bonus issue of as much as 3.36 billion shares.

STX OSV Holdings Ltd. (SOH SP), the world’s biggest maker of oil-rig support vessels, climbed 6.1 percent to S$1.645. DMG & Partners Securities Pte maintained its buy rating, saying the company will benefit from strong demand in the oil and gas industry. STX OSV said yesterday first-quarter profit dropped 13 percent from a year earlier to 269 million Norwegian kroner ($45 million).

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


Tim Cook's Reboot
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus