Bloomberg News

Singapore Stocks: Global Logistic, Hisaka, Memstar, Valuetronics

May 25, 2012

Singapore’s Straits Times Index (FSSTI) fell 0.2 percent to 2,772.75 at the close, extending losses for a third week. 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.

Global Logistic Properties Ltd. (GLP) gained 2.3 percent to S$2.02 after the owner of warehouses in China and Japan reported fourth-quarter net income tripled to $156.5 million from $49.2 million a year earlier.

Memstar Technology Ltd. (MSL) rose 5 percent to 6.3 Singapore cents after the maker of water filtration membrane products said it won a 60 million yuan ($9.5 million) contract for water treatment projects in China’s Liaoning and Shandong provinces.

Hisaka Holdings Ltd. (HISA) , a provider of automation systems to the semiconductor and electronics manufacturing industries, jumped 7.9 percent to 41 Singapore cents after agreeing to buy Wenling Xinghai Ocean Shipping Co., which owns a fleet of seven oil tankers, for S$192.5 million ($151 million) from Sky China Petroleum Services Ltd. (SKYP SP) in an all-share deal. Sky China, which provides oil drilling services, added 7.2 percent to 10.4 Singapore cents.

Valuetronics Holdings Ltd. (VALUE) climbed 8.5 percent to 25.5 Singapore cents, the most since June 2011, after the electronics manufacturing services provider said full-year net income rose 7.5 percent HK$130.3 million ($16.8 million) and announce an unexpected increase in dividends.

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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