Singapore Stocks: Hengxin, Noble Group, Sembcorp Marine, Wilmar

Singapore’s Straits Times Index gained 0.1 percent to 3,144.31 at the close. Three stocks advanced for every two that fell in benchmark equity index of 30 companies.

Shares on the measure trade at an average 15.3 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.

CapitaMalls Asia Ltd. (CMA SP), the owner of shopping malls in Singapore, Japan, China, India and Malaysia, gained 1.6 percent to S$1.89 million. The company said it will buy the Queensbay Mall in Penang, Malaysia, for S$275.6 million ($210.5 million).

Hengxin Technology Ltd. (HENG SP), a supplier of coaxial cables used in mobile communications, advanced 4.1 percent to 38.5 Singapore cents. The company said it will raise net proceeds of S$16.1 million from the sale of its shares and proposed listing on the Stock Exchange of Hong Kong.

Noble Group Ltd. (NOBL SP), a Hong Kong-based commodities supplier, gained 1.9 percent to S$2.11. The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, gained 0.8 percent in New York yesterday, extending its three-day advance to 3 percent.

Sembcorp Marine Ltd. (SMM SP), the world’s second-biggest oil rig builder, climbed 2.6 percent to S$5.12. The company said it won an order two build two jack-up rigs valued at $400 million from Noble Corp., the world’s third-largest deep-water oil and gas driller.

Wilmar International Ltd. (WIL SP), the world’s biggest palm-oil trader, slumped 5.1 percent to S$5.62, the lowest since June 2. The company said it will invest 889.2 million yuan ($134 million) in a joint venture with Kerry Properties (China) Ltd. and Shangri-La China Ltd. to develop a hotel in China’s Liaoning province.

“We believe that the market may take this announcement negatively,” Goldman Sachs Group Inc. analysts Patrick Tiah and Nikhil Bhandari wrote in a note to clients today. “This appears to be a sharp departure from Wilmar’s agri-processing core business and there may be concerns on management losing focus.”

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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