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Singapore Stocks: Biosensors, CH Offshore, OCBC, Otto Marine

Feb. 18 (Bloomberg) -- Singapore’s Straits Times Index gained 0.1 percent to 3,086.92 at the close. The gauge advanced 0.3 percent this week, the first time in three weeks. Four stocks rose for every three that fell in the benchmark index of 30 companies.

Shares on the measure trade at an average 14.1 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.

Biosensors International Group Ltd. (BIG SP), a maker of drug-coated stents used to treat blocked arteries, dropped 2.9 percent to S$1.01 after the company agreed to sell shares at a discount. The company said it will raise S$200.8 ($157.4 million) by selling 216.3 million new shares at 92.83 Singapore cents each to Atlantis Investment Management (Hong Kong) Ltd. and Ever Union Capital Ltd. The investors will each own 8.2 percent of the company, it said.

CH Offshore Ltd. (CHO SP), a provider of offshore support vessels to the oil and gas industry, gained 2 percent to 50 Singapore cents. The company said it signed a bareboat charter agreement valued at $43.5 million with an unnamed customer.

Global Logistic Properties Ltd. (GLP SP), a logistics company whose customers include Wal-Mart China and FedEx Corp., climbed 2.1 percent to S$1.94. The company said it signed new leases on 136,000 square meters of space in China last month.

Otto Marine Ltd. (OTML SP), a Singapore-based shipbuilder, declined 4.8 percent to 30 Singapore cents. The company said it had a fourth-quarter net loss of S$9.3 million, compared with a net income of S$9.8 million a year earlier.

Oversea-Chinese Banking Corp. (OCBC SP), Singapore’s second-biggest lender, dropped 1.5 percent to S$9.41. The lender said today fourth-quarter profit rose 1 percent to S$505 million from a year ago, missing the average estimate of seven analysts compiled by Bloomberg.

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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