Singapore Stocks: Chartered, Jardine, People's Food, SingTel

Singapore's Straits Times Index gained 3.67, or 0.2 percent, to close at 1,759.14, rebounding from a three-day, 6.9 percent slump. The measure has lost 5.6 percent this week, the first retreat in three weeks.

Chartered Semiconductor Manufacturing Ltd. (CSM SP), the world's third-largest made-to-order chipmaker, rose 1 Singapore cent, or 4.8 percent, to 22 cents. Taiwan's United Microelectronics Corp. is in talks with to acquire the Singaporean chipmaker, Digitimes reported yesterday.

Jardine Matheson Holdings Ltd. (JM SP), the owner of office buildings, supermarkets and hotels, climbed 30 cents, or 1.4 percent, to $21.50. Its overall performance for 2008 will be ``satisfactory'' even as slowing economic growth starts to take its toll on the group's motor, property and hotel businesses, Jardine Matheson said.

Jardine Strategic Holdings Ltd. (JS SP), which owns half of Jardine Matheson, rallied 64 cents, or 6.2 percent, to $11.

People's Food Holdings Ltd. (PFH SP), a China-based meat processor, surged 14.5 Singapore cents, or 30 percent, to 63 cents, its largest gain since Oct. 2. Third-quarter profit more than doubled from a year earlier to 208.9 million yuan ($30.6 million) after it boosted sales, People's Food said.

Singapore Petroleum Co. (SPC SP), the only refiner traded on the city-state's exchange, rose 3 cents, or 1.4 percent, to S$2.21, snapping a three-day, 10 percent slump. It entered into a production sharing contract with an Indonesian state-owned company, Singapore Petroleum said. The company will conduct seismic surveys and exploration drilling in Indonesia's East Kalimantan province.

Singapore Telecommunications Ltd. (ST SP), Southeast Asia's largest phone company, lost 2 cents, or 0.8 percent, to S$2.40, its first decline in three days. It received loans of about S$1.075 billion from banks in Singapore and Australia to refinance debt and for working capital, Singapore Telecom said.

To contact the reporter for this story: Chen Shiyin in Singapore at

To contact the editor responsible for this story: Darren Boey at

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