Singapore Stocks: Fraser & Neave, Pacific Andes, Stamford Land
Stock Chart for Fraser and Neave Ltd (FNN)
Singapore’s Straits Times Index (FSSTI) fell 0.7 percent to 2,960 at the close, erasing gains of as much as 0.5 percent. Three shares fell for each that rose in the 30- member gauge, which climbed 1.4 percent this week.
The following were among the most active shares in the market. Stock symbols are in parentheses after company names.
Palm-oil producers: Crude palm-oil futures for April delivery decreased as much as 1 percent in Kuala Lumpur today.
Wilmar International Ltd. (WIL) , the world’s largest palm-oil processor, slid 2.1 percent to S$5.58. Golden Agri- Resources Ltd. (GGR) , the world’s second-biggest palm-oil producer by sales, lost 1.3 percent to 77.5 Singapore cents.
Fraser & Neave Ltd. (FNN SP), the property developer and beverage maker, gained 1.4 percent to S$6.52. DBS Group Holdings Ltd. maintained its “buy” rating, saying earnings may improve after net income fell 23 percent from a year earlier in the three months ended Dec. 31. Gains from property development should pick-up as it books profits from residential projects, analyst Andy Sim wrote in a note today.
Pacific Andes Resources Development Ltd. (PAH) climbed 4.1 percent to 25.5 Singapore cents after the supplier of frozen seafood said first-quarter net income increased 39 percent from a year earlier to HK$139.6 million ($18 million).
Stamford Land Corp. (STL) sank 4.4 percent to 54.5 Singapore cents after the owner of hotels and travel agencies said nine-month net income declined 37 percent from a year earlier to of S$35.2 million.
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