Singapore Stocks: LottVision, Mapletree Commercial, Olam, Sunray
Singapore’s Straits Times Index (FSSTI) gained 0.2 percent to 3,140.60 at the close. Almost three stocks rose for each that fell in the benchmark index of 30 companies.
Shares on the measure trade at an average 14.4 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: Noble Group Ltd. (NOBL) , a Hong Kong-based commodities supplier, added 0.5 percent to S$2.07. Olam International Ltd. (OLAM) , a Singapore-based supplier of agricultural commodities, rose 0.7 percent to S$2.94.
The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, advanced 0.9 percent in New York on May 27.
LottVision Ltd. (LVIS) , a designer and distributor of digital video surveillance products, dropped 20 percent to 2 Singapore cents. The company said it had a full-year net loss of HK$62.8 million ($8.1 million), compared with a net loss of HK$155.8 million a year ago.
Mapletree Commercial Trust (MCT SP), the owner of properties including Singapore’s VivoCity shopping mall, gained 0.6 percent to 87.5 Singapore cents. Citigroup Inc. and DBS Group Holdings Ltd. initiated coverage of the stock with a “buy” rating. Citigroup had a share-price forecast of S$1.07, while DBS had an estimate of S$1.05.
Sunray Holdings Ltd. (SRAY) : The designer and maker of medical devices slumped 25 percent to 1.5 Singapore cents. The company said it expects to post a “significant” net loss in the fourth-quarter ended March, dragging its full-year results to a loss.
Surface Mount Technology (Holdings) Ltd. (SMT SP), an electronics manufacturing services provider, declined 25 percent to 3 Singapore cents. The company said it had a fourth-quarter net loss of HK$711.9 million, compared with a loss of HK$10.9 million a year ago.
To contact the reporter on this story: Jonathan Burgos in Singapore at firstname.lastname@example.org.
To contact the editor responsible for this story: Nick Gentle at email@example.com.
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.