Singapore Stocks: Golden Agri-Resources, Neptune Orient, SATS
Singapore’s Straits Times Index gained 0.7 percent to 3,159.23 at the close. Five stocks advanced for each that fell in the benchmark equity index of 30 companies.
Shares on the measure trade at an average 15.4 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.
Palm-oil producers: Crude palm oil for February delivery climbed as much as 3.7 percent in Kuala Lumpur today, headed for its second day of advance.
Golden Agri-Resources Ltd. (GGR SP), the world’s second- biggest palm-oil producer, gained 4.2 percent to 74 Singapore cents. Indofood Agri Resources Ltd. (IFAR SP), the palm-oil unit of Indonesia’s biggest noodle maker, increased 3.8 percent to S$2.75. Wilmar International Ltd. (WIL SP), the world’s largest palm-oil trader, rose 0.8 percent to S$6.08.
CapitaLand Ltd. (CAPL SP), Southeast Asia’s biggest developer, gained 0.5 percent to S$3.73. The company said it plans to sell Ascott Raffles Place in Singapore’s central business area. CapitaLand said its unit Ascott Residence Trust has the first option to buy the property. Ascott rose 0.8 percent to S$1.20.
Neptune Orient Lines Ltd. (NOL SP), the container carrier that gets more than half of revenue from the Americas, advanced 2.9 percent to S$2.16. Reports showed that fewer Americans filed for first-time unemployment benefits last week and a measure of consumer confidence topped forecasts, bolstering optimism about an economic recovery.
Renewable Energy Asia Group Ltd. (REAG SP), the maker of wind-turbine components, climbed 2.6 percent to 20 Singapore cents. The company said it agreed to buy machinery, valued at 82 million yuan ($12.3 million), from Nantong City Feihe Materials Co.
SATS Ltd. (SATS SP), a ground-handling services provider partly owned by Temasek Holdings Pte, gained 2.2 percent to S$2.85. The company said it’s in advanced talks to buy Japan Airlines Corp.’s in-flight meal division TFK Corp. JAL may receive more than 10 billion yen ($119.9 million) from the sale, according to the Nikkei English News, which reported the negotiations earlier.
To contact the editor responsible for this story: Nick Gentle at email@example.com.