Singapore Stocks: C&G Environmental, Sembcorp Marine, Yanlord
Singapore’s Straits Times Index (FSSTI) declined 2 percent to 2,932.01 at the close, the biggest drop since Nov. 10. Six shares fell for each that rose in the 30- member gauge.
The following were among the most active shares in the market. Stock symbols are in parentheses after company names.
C&G Environmental Protection Holdings Ltd. (CNGI) , a Hong Kong-based operator of power plants that generate electricity using municipal waste, jumped 7.1 percent to 15 Singapore cents as it resumed trading following a halt yesterday. The company said it will raise about $5 million by selling 34 million warrants at an exercise price of 18.5 Singapore cents to International Finance Corp.
Sembcorp Marine Ltd. (SMM) , the world’s second-biggest builder of oil rigs, declined 6.3 percent to S$5.06. Temasek Holdings Pte raised S$327.6 million ($260 million) by selling 62.4 million Sembcorp Marine shares at S$5.25 each, a person with direct knowledge of the matter said. Stephen Forshaw, a spokesman for Temasek, declined to comment.
Yanlord Land Group Ltd. (YLLG) dropped 2.7 percent to S$1.25 after Standard & Poor’s Ratings Services cut the Chinese property developer’s long-term credit rating to BB- from BB, with a negative outlook. “The contracted sales of Yanlord were weaker than we expected in 2011 and we don’t see signs of improvement in 2012,” S&P said in a statement.
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