Bloomberg News

Singapore Stocks: Intraco, Noble Group, SingTel, SingXpress Land

May 30, 2012

Singapore’s Straits Times Index (FSSTI) dropped 0.7 percent to 2,765.03 as of 9:26 a.m. local time. All but four shares declined in the 30-member gauge.

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

Commodity suppliers: The Thomson Reuters/Jefferies CRB Index (CRY), which tracks 19 commodities ranging from copper to corn, fell 1.7 percent in New York yesterday, extending losses for a second day.

Noble Group Ltd. (NOBL) , Asia’s biggest listed commodities trader, decreased 1.3 percent to S$1.115. Olam International Ltd. (OLAM) , a Singapore-based supplier of agricultural commodities, slipped 1.5 percent to S$1.65.

Intraco Ltd. (INTR) , a commodities trader and supplier of semiconductors, jumped 53 percent to 46 Singapore cents after saying its controlling shareholder, Hanwell Holdings Ltd., agreed to sell 29.9 percent of the company to TH Investment Pte for about S$18.3 million ($14.2 million), or 62 Singapore cents a share.

Singapore Telecommunication Ltd. (ST) , Southeast Asia’s biggest phone company, slipped 0.3 percent to S$3.04. The Infocomm Development Authority of Singapore imposed a S$400,000 on SingTel, as the company is known, for service disruption in its 3G mobile network on Sept. 6 and 7, according to a statement by the regulator.

SingXpress Land Ltd. (SINX) fell 6.7 percent to 1.4 Singapore cents after the real-estate company said it will sell 243 million new shares at 1.26 Singapore cents, raising net proceeds of about S$3 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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