Singapore Stocks: Golden Agri, Noble, Pertama, Singapore Air
Singapore’s Straits Times Index (FSSTI) dropped 1.1 percent to 3,020.13, the lowest close since March 22. All but four stocks in benchmark index of 30 companies declined.
Shares on the measure trade at an average 13.9 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 supplier of energy, food and mining commodities, slid 2 percent to S$1.93. Olam International Ltd. (OLAM) , a Singapore-based supplier of agricultural commodities, dropped 0.8 percent to S$2.59.
The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, dipped 2.3 percent in New York yesterday.
Palm-oil producers: Golden Agri-Resources Ltd. (GGR) , the world’s second-biggest palm-oil producer by sales, fell 0.8 percent to 66.5 Singapore cents. Indofood Agri Resources Ltd. (IFAR) , the palm-oil unit of Indonesia’s No. 1 noodle maker, declined 2.5 percent to S$1.57. Wilmar International Ltd. (WIL) , the world’s biggest palm-oil processor by sales, decreased 1.7 percent to S$5.33.
Crude palm-oil futures for August delivery dropped as much as 1.7 percent in Kuala Lumpur today.
Lian Beng Group Ltd. (LBG) , a construction company, rose 1.5 percent to 35 Singapore cents. The company said it won a contract, valued at S$128.8 million ($103.7 million), to build a residential apartment in Bedok in the eastern part of the city.
Pertama Holdings Ltd. (PERT) , a retailer of electronics and home appliances, surged 12 percent to 64.5 Singapore cents. The company will be taken private by parent Harvey Norman Holdings Ltd., the Australian company said. Harvey Norman is offering 65 Singapore cents a share for the rest of Pertama it doesn’t own. Australia’s biggest retailer of electronics by sales holds about 78 percent stake in Pertama, according to Bloomberg data.
Singapore Airlines Ltd. (SIA) , the world’s second- largest carrier by market value, slipped 0.7 percent to S$13.90. The company said passenger load factor fell to 73.6 percent in May from 74.8 percent a year earlier.
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