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Singapore Stocks: Global Logistic, Koon, Mewah, Singtel, Wilmar

Dec. 8 (Bloomberg) -- Singapore’s Straits Times Index increased 0.3 percent to 3,202.80 at the close. Almost three rose for every two that fell in the benchmark equity index of 30 companies.

Shares on the measure trade at an average 15.6 times estimated earnings, compared with about 17.4 times at the beginning of the year, according to data compiled by Bloomberg.

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

Telecommunications companies: Mobile-phone subscriptions in Singapore increased to 7.21 million in October from 7.18 million in September, raising the number of active mobile numbers to 142 percent of the population from 141 percent.

Singapore Telecommunications Ltd. (ST SP), Southeast Asia’s biggest phone company gained 0.6 percent to S$3.15. Starhub Ltd. (STH SP), Singapore’s second-largest phone company, climbed 1.1 percent to S$2.68. M1 Ltd. (M1 SP), the smallest phone company, increased 0.4 percent to S$2.29.

Global Logistic Properties Ltd. (GLP SP), a logistics company whose customers include Wal-Mart China, Deutsche Post AG’s DHL and FedEx Corp., sank 2.3 percent to S$2.13. Bank of America Corp.’s Merrill Lynch & Co. initiated coverage of the stock with an “underperform” rating.

Koon Holdings Ltd. (KNH SP), a construction company, advanced 1.6 percent to 64 Singapore cents. The company said it won S$45.7 million of contracts to build an infrastructure facility and public housing flats for the Singapore government.

Mewah International Inc. (MII SP), a producer of vegetable oils, increased 3.8 percent to 96.5 Singapore cents. Nomura Holdings Inc. initiated coverage of the stock with a “buy” rating and a share-price forecast of S$1.30.

Mun Siong Engineering Ltd. (MSE SP), a provider of engineering services to petrochemical companies, advanced 2.8 percent to 18.5 Singapore cents. DMG & Partners Securities Pte initiated coverage of the stock with a “buy” rating and a share-price forecast of 28 Singapore cents.

Wilmar International Ltd. (WIL SP), the world’s biggest palm-oil trader, dropped 1.2 percent to S$5.97. Goldman Sachs Group Inc. lowered its rating on the stock to “neutral” from “buy,” saying profit margins in China will be under pressure in the near term as the company seeks to grow its market share.

To contact the reporter on this story: 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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