Bloomberg News

Singapore Stocks: ComfortDelgro, Fragrance, STX OSV Holdings

May 14, 2012

Singapore’s Straits Times Index (FSSTI) added 0.1 percent to 2,865.59 as of 10:52 a.m. local time. About five shares fell for every four that rose 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 may introduce measures to regulate the sale of smaller-sized residential units after developers sold a record number of so-called shoebox apartments in the first quarter.

City Developments Ltd. (CIT) , the second-biggest homebuilder in the island nation, declined 1.3 percent to S$10.08. UOL Group Ltd. (UOL SP), a real-estate company partly- owned by billionaire Wee Cho Yaw, dropped 3 percent to S$4.21.

ComfortDelgro Corp. (CD) rose 1.4 percent to S$1.48 after Singapore’s biggest operator of taxis and buses said first-quarter net income rose 6.8 percent from a year earlier to S$53.5 million ($43 million).

Fragrance Group Ltd. (FRAG) advanced 4.7 percent to 44.5 Singapore cents after the hotel operator and real-estate company said first-quarter profit increased 55 percent from a year earlier to S$22.1 million. Separately, the company proposed a one-for-one bonus issue of up to 3.36 billion shares.

STX OSV Holdings Ltd. (SOH) , the world’s biggest maker of oil-rig support vessels, climbed 3.9 percent to S$1.61. 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


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