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Singapore Stocks: Olam, Noble, Bumitama, IEV Holdings

Singapore’s Straits Times Index (FSSTI) rose 1.1 percent to 2,978.14 as of the close. All but four shares advanced on the 30-member gauge.

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

Commodity suppliers: The Thomson Reuters/Jefferies CRB Index (CRY), which tracks 19 commodities ranging from copper to corn, rose 0.6 percent in New York yesterday, snapping a two-day drop.

Olam International Ltd. (OLAM) , a Singapore-based supplier of agricultural commodities, gained 2.2 percent to S$2.31. Noble Group Ltd. (NOBL) , Asia’s biggest listed commodities trader, jumped 2.7 percent to S$1.33.

Bumitama Agri Ltd. (BAL) , an Indonesian palm-oil producer, jumped 31 percent to 98 Singapore cents. The company raised S$222 million ($176 million), selling 297.6 million shares for 74.5 Singapore cents each in its initial public offering.

Cosco Corp. Singapore Ltd. (COS SP), a shipbuilding unit of China’s biggest shipping company, rose 1.4 percent to S$1.11. Cosco said its subsidiary Cosco (Nantong) Shipyard Co. has won a contract from Seadrill to construct a self-erecting tender drilling rig.

IEV Holdings Ltd. (IEV) , which provides engineering services to the offshore oil and gas industry, climbed 2.9 percent to 87.5 Singapore cents. IEV Holdings said it will get a 45 percent cash dividend from its associate company CNG Vietnam Joint Stock Co., bringing the total payment ratio to 70 percent, for the year ended Dec. 31.

To contact the reporters on this story: Norie Kuboyama in Tokyo at nkuboyama@bloomberg.net; 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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