Singapore Stocks: Golden Agri, Neptune Orient Lines, Noble Group
Singapore’s Straits Times Index increased 1.7 percent to 2,837.61 as of 10:45 a.m. local time. Just one share in the index of 30 companies declined.
The following shares were among the most active in the market. Stock symbols are in parentheses after the company names.
BBR Holdings Ltd. (BBR SP), a construction company, gained 4.9 percent to 21.5 Singapore cents after winning a public housing contract valued at S$179 million ($140 million).
China Minzhong Food Corp. (MINZ SP), a vegetable supplier, advanced 3.8 percent to 96 Singapore cents after saying third- quarter net income surged 78 percent from a year earlier to 93.1 million yuan ($14.7 million).
First Resources Ltd. (FR) , an Indonesian plantation company, climbed 2.8 percent to S$1.49. The company said third- quarter net income climbed 39 percent from a year earlier to $51.3 million.
Golden Agri-Resources Ltd. (GGR) , the world’s second- biggest palm-oil producer by sales, rose 3 percent to 68 Singapore cents after saying third-quarter net income increased 11 percent from a year earlier to $109.6 million.
Neptune Orient Lines Ltd. (NOL SP), Southeast Asia’s biggest container carrier, added 1.4 percent to S$1.06. A.P. Moeller-Maersk A/S, the world’s largest shipping line, and 14 other shipping lines plan to raise rates on Asia-U.S. routes beginning Jan. 1 after a price war and overcapacity caused industrywide losses.
Noble Group Ltd. (NOBL) , a Hong Kong-based commodity supplier, gained 2.5 percent to S$1.21. The company is in talks to hire former Goldman Sachs Group Inc. Asia-Pacific co- president Yusuf Alireza as chief executive officer, the Wall Street Journal said, citing an unidentified person familiar with the matter. The stock tumbled 25 percent last week after the company reported its first loss in 14 years and Chief Executive Officer Ricardo Leiman resigned.
PEC Ltd. (PEC) , a provider of engineering services to the energy and pharmaceutical industries, dropped 4.9 percent to 78 Singapore cents after posting a 71 percent decline in profit.
To contact the reporter on this story: Jonathan Burgos in Singapore at email@example.com.