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Singapore Stocks: Creative Technology, Keppel Corp., Yandlord

Jan. 27 (Bloomberg) -- Singapore’s Straits Times Index was little changed at 3,219.83 at the close. About the same number of stocks rose and 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.

China developers: Real-estate companies with businesses in the world’s fastest-growing major economy dropped after China increased the minimum down payment for second-home purchases and asked local governments to boost land supply, seeking to further limit the risk of asset bubbles in the country.

CapitaLand Ltd. (CAPL SP), Southeast Asia’s biggest developer that gets about 26 percent of sales from China, fell 1.1 percent to S$3.65. Yanlord Land Group Ltd. (YLLG SP), a China-based developer, slid 2.4 percent to S$1.60.

Creative Technology Ltd. (CREAF SP), a consumer electronics maker whose music players compete with Apple Inc.’s iPod, sank 4 percent to S$3.87. The company said it had a second-quarter net loss of $10.9 million, compared with a loss of $5.3 million a year earlier.

Keppel Corp. (KEP SP), the world’s biggest builder of oil rigs, advanced 1.7 percent to S$12.12. The company said it won an order to build two jack-up drilling rigs, valued at $416 million, from Discovery Offshore SA.

Malaysia Smelting Corp. (SMELT SP), a tin producer, increased 1.7 percent to S$1.78 on its trading debut in the city-state. The company offered 25 million shares at S$1.75 in its Singapore initial share sale.

Mewah International Inc. (MII SP), a producer of vegetable oils, gained 0.9 percent to S$1.10. The company said it will buy six plots of land in Malaysia for about S$11.2 million ($8.8 million) to be used for future expansion.

STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, dropped 3.9 percent to S$12.50. The Baltic Dry Index, a measure of commodity-shipping costs, fell 4.5 percent in London yesterday, extending its decline to a seventh day.

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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