Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Singapore Stocks: Golden Agri, Neptune Orient, Tiger Airways

Feb. 17 (Bloomberg) -- Singapore’s Straits Times Index slipped 0.4 percent to 3,082.83 at the close. Three stocks fell for every two that rose 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.

Palm-oil producers: Crude palm-oil futures for May delivery declined as much as 2.6 percent in Kuala Lumpur today.

First Resources Ltd. (FR SP), an Indonesian palm plantation company, slipped 2.8 percent to S$1.39. Golden Agri-Resources Ltd. (GGR SP), the world’s second-biggest palm-oil producer, fell 2.9 percent to 67.5 Singapore cents. Indofood Agri Resources Ltd. (IFAR SP), the palm-oil unit of Indonesia’s biggest noodle maker, dropped 2.8 percent to S$2.46.

Broadway Industrial Group Ltd. (BWAY SP), a maker of components used in hard-disk drives, jumped 7.1 percent to S$1.06. The company proposed a one-for-one bonus share issue to existing shareholders. It also reported fourth-quarter net income increased 1.1 percent to S$10.2 million ($8 million) from a year earlier.

Keppel Corp. (KEP SP), the world’s biggest builder of oil rigs, gained 1.7 percent to S$11.78. The company said its Keppel FELS Ltd. unit won a contract to build two jack-up drill rigs, valued at $380 million from Transocean Ltd.

Neptune Orient Lines Ltd. (NOL SP), Southeast Asia’s biggest container carrier, climbed 3.3 percent to S$2.20. The company said it had a fourth-quarter net income of $177 million, compared with a loss of $211 million a year earlier. That beat the average estimate of $75 million by four analysts compiled by Bloomberg. Citigroup Inc. raised its rating on the stock to “buy” from “hold.”

Tiger Airways Holdings Ltd. (TGR SP), the discount carrier part-owned by Singapore Airlines Ltd., slumped 4.2 percent to S$1.59, heading for its lowest close since March 2010, after 18.6 million shares traded off-market today at a discount to yesterday’s close. The shares were sold at S$1.58 each, according to stock exchange data.

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.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.