Singapore’s Straits Times Index (FSSTI) added 0.2 percent to 3,021.56 as of 9:28 a.m. local time. Three shares rose for each that fell in the 30-member gauge.
The following were among the most active shares in the market. Stock symbols are in parentheses after company names.
DBS Group Holdings Ltd. (DBS) dropped 2.8 percent to S$13.79 after Southeast Asia’s biggest lender offered to buy PT Bank Danamon Indonesia for about $7.2 billion. The Singaporean bank will pay its parent Temasek Holdings Pte 45.2 trillion rupiah ($4.9 billion) in new shares for its 67 percent stake in Danamon and buy the remaining stock from other shareholders for 7,000 rupiah each in cash, a 52 premium from the stock’s closing price of 4,600 rupiah on March 30.
Keppel Corp. (KEP) gained 0.9 percent to S$11.02 after the world’s biggest builder of oil platforms said its Keppel Amfels unit won a $205 million contract to build a jack-up rig for Mexico’s Perforadora Central SA de CV.
Ocean Sky International Ltd. (OSI SP) increased 3 percent to 20.5 after the apparel maker agreed to buy ChiwayLand Group (Singapore) Pte, a property developer in China, for up to S$372 million ($297 million) in an all-share deal. Ocean Sky will sell its existing business to some of its directors.
Sembcorp Marine Ltd. (SMM) added 0.2 percent to S$5.32 after a unit of the world’s second-largest builder of oil platforms won a $568 million contract to build a semi- submersible drilling rig for Norway’s North Atlantic Drilling Ltd.
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