Singapore Stocks: Fraser & Neave, Keppel Corp., OKP Holdings

Singapore’s Straits Times Index dropped 0.8 percent to 2,740.74 as of 11:47 a.m. local time. Four stocks fell for each that rose in the benchmark gauge of 30 companies.

The following shares were among the most active in the market. Stock symbols are in parentheses after the company names.

Oil-rig builders: The world’s biggest makers of offshore oil platforms dropped after crude oil futures headed for second day of decline. Keppel Corp. (KEP) slipped 1.2 percent to S$9.40. Sembcorp Marine Ltd. (SMM) declined 1.5 percent to S$3.87.

CCM Group Ltd. (CCM) , a construction company, climbed 6.2 percent to 10.3 Singapore cents. The company won a contract, valued at S$5.9 million ($4.6 million), for the restoration of a temple in Singapore.

Fraser & Neave Ltd. (FNN) , a property developer and beverage maker, rose 0.8 percent to S$6.34. Nomura Holdings Inc. reiterated its “buy” rating on the stock with a share-price forecast of S$7.29, citing steady growth in its brewery business and improving profit margins at its softdrinks operations.

OKP Holdings Ltd. (OKP) , a road builder, increased 1.9 percent to 54.5 Singapore cents. OCBC Investment Research reiterated its “buy” rating on the stock. OKP may win more government contracts, further boosting its current order book of more than S$400 million, analyst Benjamin Lim wrote in a note to clients yesterday.

SMRT Corp. (MRT) , Singapore’s biggest commuter-train operator, gained 0.9 percent to S$1.785. UOB-Kay Hian Holdings Ltd. raised its rating on the stock to “hold” from “sell,” saying the opening of the Bayfront station next month near the Marina Bay Sands integrated casino-resort will boost ridership.

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

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