Singapore Stocks: CapitaCommercial Trust, Genting, Straits Asia
Stock Chart for Genting Singapore PLC (GENS)
Singapore’s Straits Times Index climbed 43.83, or 2.3 percent, to 1,957.49 as of 9:12 a.m. local time, poised for its highest close since Oct. 15. All but two of the measure’s 30 constituents advanced.
CapitaCommercial Trust (CCT SP), the Singapore office landlord, jumped 8.5 cents, or 9.1 percent, to S$1.02, set for its highest close since Nov. 3. It agreed to a three-year, S$580 million ($394 million) loan with five banks to refinance its borrowings, CapitaCommercial said.
Genting International Plc (GIL SP), the overseas unit of Asia’s biggest casino operator by market value, added half a Singapore cent, or 1.1 percent, to 48 cents, gaining for the third time in four days. Genting Bhd. said its Singapore resort may be fully completed in 2011, Malaysia’s Business Times reported, citing spokeswoman Krist Boo. The casino, a Universal Studios theme park and four hotels, are set to start operations in the first quarter of next year, the newspaper also reported.
Noble Group Ltd. (NOBL SP), a Hong Kong-based supplier of raw materials, rose 5 cents, or 4.2 percent, to S$1.23. Copper futures for March delivery jumped 8.5 percent in New York, the most since Dec. 8, amid speculation the spending package will lift demand for materials.
Straits Asia Resources Ltd. (SAR SP), a Singapore-listed coal mining company, jumped 4 Singapore cents, or 4.4 percent, to 95.5 cents, set for the highest close since Dec. 10. UBS AG raised its share-price estimate to S$2.80 from S$2.10, saying that the company is its top pick among Indonesian coal miners because it has already negotiated prices for 75 percent of its 2009 production.
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