Breaking News

Tweet TWEET

Singapore Stocks: Global Logistic, KS Energy, Raffles Education

Singapore’s Straits Times Index (FSSTI) fell 0.1 percent to 3,050.79 at the close. Two stocks rose for each that fell on the benchmark index of 30 companies.

Shares on the measure trade at an average 14 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.

China XLX Fertiliser Ltd. (CXLX) , a maker of urea and methanol, surged 7.3 percent to 37 Singapore cents. CIMB Group Holdings Bhd. raised its rating to “neutral” from “underperform,” saying it expects prices of fertilizers to increase.

Global Logistic Properties Ltd. (GLP) , a logistics company whose customers include Wal-Mart China and FedEx Corp., climbed 1.5 percent to S$2.01. The company said it signed an agreement to build facilities for Unicharm Corp., a Japanese maker of sanitary napkins and baby products, in China.

KS Energy Ltd. (KST SP), the maker of drilling equipment for oil explorers that’s being taken private by Pacific One Energy Ltd., gained 1.9 percent to S$1.08. The company said it won a one-year contract, valued at 12 million euros ($17.1 million) to charter its offshore accommodation rig for use in a project of Royal Dutch Shell Plc in the North Sea.

Raffles Education Corp. (RLS SP), operator of fashion- design schools in Singapore, China and India, increased 1.1 percent to 48 Singapore cents. DBS Group Holdings Ltd. raised its rating on the stock to “hold” from “fully valued,” saying the sale of the company’s stake in Value Vantage Pte., a provider of training services in China, will result in a one- time gain of S$23.7 million ($19 million) and help the company repay some of its debt.

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.

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.