Singapore Stocks: Golden Agri-Resources, Think Environmental
Singapore’s Straits Times Index gained 0.8 percent to 3,183.70 as of the close of trading. Thirteen stocks advanced for each that fell in the benchmark equity index of 30 companies.
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.
Palm-oil producers: Crude palm-oil futures for March delivery jumped 2.5 percent in Kuala Lumpur yesterday.
First Resources Ltd. (FR SP), an Indonesian palm plantation company, advanced 2 percent to S$1.56. Golden Agri-Resources Ltd. (GGR SP), the world’s second-biggest palm-oil producer, rose 2.6 percent to 79.5 Singapore cents. Indofood Agri Resources Ltd. (IFAR SP), the palm-oil unit of Indonesia’s biggest noodle maker, climbed 4 percent to S$2.83.
ECS Holdings Ltd. (ECS SP), a Singapore-based electronic cabling company, jumped 7 percent to 84 Singapore cents. The company said it wants to raise about $50 million from the listing of its Taiwan depository receipts.
Keppel Corp. (KEP SP), the world’s biggest builder of oil rigs, climbed 0.9 percent to S$10.98. The company said its Keppel Offshore & Marine Ltd. unit won new contracts totaling S$240 million ($185 million) to upgrade a floating production storage and offloading vessel, convert a livestock carrier and build a diving support vessel.
Think Environmental Company Ltd. (TENV SP), the waste management services company, rose 2.9 percent to 72 Singapore cents, its highest level on record. The company agreed to buy a 70 percent stake in Mornington Offshore Inc. for $35 million, giving it control of gold concessions in the Republic of Mali.
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