Singapore Stocks: Sembcorp Industries, SIA Engineering, Yongnam

Singapore’s Straits Times Index (FSSTI) rose 0.5 percent to 3,170.53 as of the 12:30 p.m. trading break. About nine stocks gained for each that fell in the benchmark index of 30 companies.

Shares on the measure trade at an average 14.5 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.

Sembcorp Industries Ltd. (SCI) , the owner of the world’s second-biggest builder of oil platforms, rose 0.6 percent to S$5.33 before the release of its first-quarter results. The company is expected to report net income of S$173.7 million ($141.2 million), according to the average estimate of three analysts compiled by Bloomberg. That compares with S$158.8 million a year earlier.

SIA Engineering Co. (SIE SP), the aircraft maintenance arm of Singapore Airlines Ltd. (SIA SP), climbed 4 percent to S$4.43, the best performer on the benchmark index. The company declared a special dividend of 10 Singapore cents a shares in addition to a final dividend of 14 Singapore cents. The dividend will provide “some comfort” to investors even as fourth-quarter net income dropped 18 percent and missed analysts’ estimates, Corrine Png, an analyst at JPMorgan Chase & Co. wrote in a note to clients.

United Engineers Ltd. (UEM) , an engineering company and property developer, added 0.9 percent to S$2.37. The company said first-quarter net income rose 6 percent from a year earlier to S$29.9 million.

Yongnam Holdings Ltd. (YNH) , a Singapore-based construction company, climbed 1.9 percent to 26.5 Singapore cents. The company said it won a contract valued at S$75 million for the supply of structural steel for the city’s new seven- storey stadium.

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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