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Singapore Stocks: Harry’s, Keppel Corp., Spice I2I, XMH Holdings

Updated on

Singapore’s Straits Times Index gained 1.3 percent to 3,220.78 at the close, its biggest advance since Jan. 3. Five stocks rose for each that fell in the benchmark index of 30 companies.

Shares on the measure trade at an average 14.7 times estimated earnings, compared with about 15.6 times at the end of 2010, 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.

CapitaRetail China Trust (CRCT SP), the operator of shopping malls in China partly-owned by CapitaLand, increased 2.4 percent to S$1.27. The company said full-year gross revenue rose 4.4 percent to 589.1 million yuan ($89.5 million) from the previous year.

GMG Global Ltd. (GGL SP), the owner of rubber plantations in West Africa, surged 12 percent to 32 Singapore cents. Bank of America’s Merrill Lynch & Co. initiated coverage of the stock with a “buy” rating and share-price forecast of 50 Singapore cents.

Harry’s Holdings Ltd. (HHL SP), the operator of pubs and restaurants, tumbled 11 percent to 19.5 Singapore cents on its trading debut. The company sold 24 million shares at 22 Singapore cents in its initial share sale.

Keppel Corp. (KEP SP), the world’s biggest builder of oil rigs, jumped 5.1 percent to S$11.92. The company said net income in the fourth quarter increased 17 percent to S$403 million ($314 million) from a year earlier. Analysts expected profit of S$371.3 million, based on four estimates compiled by Bloomberg.

Spice i2i Ltd. (I2I SP), a provider of Internet-telephone services, plunged 26 percent to 8.5 Singapore cents. The company said it plans to raise gross proceeds of about S$151 million by selling shares to existing shareholders at 5.5 Singapore cents each, to help finance an acquisition in Indonesia.

XMH Holdings Ltd. (XMH SP), a supplier of diesel engines, gained 2 percent to 25.5 Singapore cents. The company sold 100.95 million new and vendor shares at 25 Singapore cents in its initial share sale.

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