Singapore Stocks: Hong Leong Finance, Hyflux, Keppel Corp.

Singapore’s Straits Times Index (FSSTI) gained 0.1 percent to 3,070.02 as of 10:37 a.m. local time. Three stocks fell for every two that rose in the benchmark index of 30 companies.

Shares on the measure trade at an average 14.1 times estimated earnings, compared with about 15.6 times at the end of 2010, 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.

Hong Leong Finance Ltd. (HLF) : The provider of mortgages and car loans rose 1.4 percent to S$2.96. DMG & Partners Securities Pte reiterated its “buy” rating and share-price forecast of S$3.61, saying valuation remains attractive with the stock trading below book value.

Hyflux Ltd. (HYF) : Singapore’s biggest provider of water-treatment services surged 11 percent to S$2.04. The company said the city’s water utility chose the company as the preferred bidder for the nation’s second and largest water desalination facility. The project will cost S$890 million ($703 million) to build, it said.

Keppel Corp. (KEP SP), the world’s biggest builder of oil rigs, climbed 1.7 percent to S$11.90. The company said it won an order, valued at $195 million, to build a jack-up drilling rig for Perforadora Central SA de CV, a Mexican oil drilling services provider.

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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