Gold Drops to $1,200/oz for First Time Since June in New York
Singapore Stocks: Ascott, Dyna-Mac Holdings, Neptune Orient
The following were among the most active shares in the market. Stock symbols are in parentheses after the company names.
Ascott Residence Trust (ART) , the serviced apartment operator partly owned by CapitaLand Ltd. (CAPL SP), gained 2.6 percent to S$1. Ascott Ltd. may inject some of its Malaysian properties into the Singapore-listed trust, Malaysia’s Business Times newspaper reported, citing Tan Boon Khai, the group’s general manager for Singapore and Malaysia.
Dyna-Mac Holdings Ltd. (DMHL SP), a provider of offshore engineering services partly owned by Keppel Corp. (KEP SP), jumped 7.5 percent to 43 Singapore cents. The company said it won provisional contracts valued at S$115 million ($88.2 million) from companies including Modec Inc., Bumi Armada Bhd and SBM Offshore NV. Keppel, the world’s biggest builder of oil rigs, rose 2.4 percent to S$9.22.
Neptune Orient Lines Ltd. (NOL SP), Southeast Asia’s biggest container carrier, climbed 3.6 percent to S$1.15. The company said it, Hapag-Lloyd AG and four other shipping lines agreed to form an alliance to help curb falling rates on the Asia-Europe trade route amid slowing demand and overcapacity.
Noble Group Ltd. (NOBL) , the biggest shareholder of Australia’s Gloucester Coal Ltd., jumped 3 percent to S$1.19. The stock has gained 7.7 percent since Bloomberg News reported on Dec. 19 that Yanzhou Coal Mining Co, China’s fourth-largest producer of the fuel, plans to buy Gloucester Coal for at least $2 billion. Noble sought a halt in trading this morning as it awaits developments in the possible acquisition.
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