Singapore Stocks: ComfortDelgro, Genting, STX OSV, UOL Group
Singapore’s Straits Times Index gained 0.8 percent to 2,874.40 at the close, advancing for a second day. Eleven stocks rose for every three that fell in the index of 30 companies.
The following shares were among the most active in the market. Stock symbols are in parentheses after the company name.
Developers: Singapore’s private home sales rose to 1,386 units in July from 1,182 the previous month, according to the Urban Redevelopment Authority.
City Developments Ltd. (CIT) , Singapore’s second-biggest homebuilder by market value, rose 1.2 percent to S$10.26. Keppel Land Ltd. (KPLD) , the real estate unit of Keppel Corp. (KEP SP), increased 1.6 percent to S$3.19. UOL Group Ltd. (UOL) , a hotel operator and property developer, climbed 3.3 percent to S$4.73.
ComfortDegro Corp. (CD) : Singapore’s biggest operator of buses and taxis jumped 4 percent to S$1.31, the biggest increase since July 8, 2010. Credit Suisse Group AG reiterated its “outperform” rating, saying rising passenger numbers will continue to boost earnings in the second half. The company posted a 2.9 percent increase in second-quarter net income from a year earlier.
Genting Singapore Plc (GENS) , the owner of one of two casino resorts in the city-state, slid 3.2 percent to S$1.67, the lowest level since Aug. 30, 2010. The company said second- quarter profit fell 39 percent from a year earlier to S$243.2 million ($202 million).
STX OSV Holdings Ltd. (SOH) , the world’s biggest maker of oil-rig support vessels by sales, surged by a record 9.9 percent to S$1.39 after the company declared an interim special dividend of 5 Singapore cents per share. DMG & Partners Securities Pte reiterated its “buy” rating and raised its share-price forecast to S$2 from S$1.89, saying the dividend was a surprise. STX OSV reported separately a 20 percent decline in second-quarter net income from a year earlier.
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