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Singapore Stocks: Boustead, Fraser & Neave, Noble, Yamada Green

Singapore’s Straits Times Index fell 0.4 percent to 3,153.34 at the close. The gauge rose 0.7 percent this week, its seventh weekly advance. Four stocks declined for each that climbed on the 30-member gauge.

Shares on the measure trade at an average 15.5 times estimated earnings, compared with about 17.4 times at the beginning of the year, according to data compiled by Bloomberg.

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

Boustead Singapore Ltd. (BOCS SP), a provider of engineering services, gained 1.9 percent to S$1.05. The company said its Boustead Salcon Water Solutions Pte unit won a contract to build a water treatment facility in the city state.

Fraser & Neave Ltd. (FNN SP), a property developer and brewer, slid 1.3 percent to S$6.26. Kim Eng Holdings Ltd. lowered its recommendation on the stock to “hold” from “buy.”

Genting Singapore Plc (GENS SP), the operator of one of two casino resorts in the city, fell 2.5 percent to S$1.98, declining for a second day. Morgan Stanley yesterday cut its recommendation on the stock to “equal-weight” from “overweight.”

Noble Group Ltd. (NOBL SP), the commodities trader that counts China’s sovereign wealth fund as a shareholder, climbed 1.5 percent to S$2.01. The company said it is seeking $1.5 billion of revolving loan facilities to replace its existing $645.2 million 364-day revolving loan, which matures this year. The proceeds will also be used for general corporate purposes, it said.

Yamada Green Resources Ltd. (YGR SP), a Fuzhou City, China- based supplier of shiitake mushrooms, advanced to 37 Singapore cents on its trading debut. The company sold 105 million shares at 22 Singapore cents in its initial share sale.

Yangzijiang Shipbuilding Holdings Ltd. (YZJ SP), a China- based shipbuilder, rose 1.7 percent to S$1.83. The company said its listing in Taiwan last month raised NT$3.76 billion ($122 million). The proceeds will be used for working capital, it said.

To contact the reporter on this story: Jonathan Burgos in Singapore at jburgos4@bloomberg.net.

To contact the editor responsible for this story: Nicolas Johnson at nicojohnson@blomberg.net.

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