Singapore Stocks: ARA Asset, Great Eastern, Rotary Engineering

Singapore’s Straits Times Index (FSSTI) fell 0.1 percent to 3,111.87 as of the 12:30 p.m. trading break. About the same number of stocks dropped as rose in the benchmark index of 30 companies.

Shares on the measure trade at an average 14.2 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.

Commodity suppliers: The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, sank 1.8 percent in New York yesterday, extending its drop for a third day.

Noble Group Ltd. (NOBL) , a Hong Kong-based supplier of commodities, lost 0.5 percent to S$2.11. Olam International Ltd. (OLAM) , a Singapore-based supplier of agricultural commodities, decreased 0.7 percent to S$2.80.

ARA Asset Management Ltd. (ARA) , a manager of property trusts partly owned by Li Ka-shing’s Cheung Kong Holdings Ltd., climbed 2.7 percent to S$1.72. The company said first-quarter net income increased 19 percent to S$14.8 million ($12 million).

Great Eastern Holdings Ltd. (GE) , a Singapore insurer partly owned by Oversea-Chinese Banking Corp. (OCBC SP), slipped 0.9 percent to S$15.26. The company said first-quarter net income profit fell 11 percent from a year earlier to S$158.7 million.

Rotary Engineering Ltd. (RTRY) , the builder of storage tanks for the oil and gas industry, declined 2.2 percent to 90 Singapore cents. The company said first-quarter net income tumbled 62 percent from a year earlier to S$5.3 million.

To contact the reporter on this story: Jonathan Burgos in Singapore at

To contact the editor responsible for this story: Nick Gentle at

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