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Singapore Stocks: Neptune Orient, Olam, Renewable Energy Asia

Singapore’s Straits Times Index gained 0.2 percent to 3,184.74 at the close. Four stocks advanced for every three that fell in the benchmark index of 30 companies.

Shares on the measure trade at an average 14.5 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.

Commodity suppliers: The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, increased 1.8 percent in New York yesterday, extending its advance for a second day.

Noble Group Ltd. (NOBL SP), a Hong Kong-based commodities supplier, gained 0.5 percent to S$2.19. Olam International Ltd. (OLAM SP), a Singapore-based supplier of agricultural commodities, climbed 1.6 percent to S$3.09.

CEI Contract Manufacturing Ltd. (CEI SP), a maker of electronics components, jumped 8 percent to 13.5 Singapore cents. The company said full-year net income increased to S$5.2 million ($4 million) from S$2.3 million a year earlier.

Neptune Orient Lines Ltd. (NOL SP), Southeast Asia’s biggest container carrier, gained 0.5 percent to S$2.21. The company said average freight rates in the seven weeks to Dec. 31 climbed 21 percent from a year earlier as it transported 26 percent more cargo.

Renewable Energy Asia Group Ltd. (REAG SP), a Singapore-based developer of alternative energy projects, increased 2.4 percent to 21.5 Singapore cents. The company said it received approval to build a 10-megawatt solar power plant in Mongolia. The project will cost about 190 million yuan ($28.8 million) to develop, it said.

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