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Singapore Stocks: Genting Singapore, Golden Agri, Mewah, Olam

March 23 (Bloomberg) -- Singapore’s Straits Times Index gained 0.7 percent to 3,022.19 at the close of trading. More than two stocks advanced for each that declined in the benchmark index of 30 companies.

Shares on the measure trade at an average 13.9 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, gained 0.9 percent in New York yesterday, extending its advance for a fifth day.

Noble Group Ltd. (NOBL SP), a Hong Kong-based supplier of commodities, increased 1.4 percent to S$2.11. Olam International Ltd. (OLAM SP), a Singapore-based supplier of agricultural commodities, surged 4.2 percent to S$2.76.

Palm-oil producers: Crude palm-oil futures for June delivery climbed as much as 1.8 percent in Kuala Lumpur today, heading for its first advance in three days.

Golden Agri-Resources Ltd. (GGR SP), the world’s second-biggest palm-oil producer, jumped 3.8 percent to 69 Singapore cents. First Resources Ltd. (FR SP), an Indonesian palm-oil producer, rose 2.4 percent to S$1.30. Indofood Agri Resources Ltd. (IFAR SP), the palm-oil unit of Indonesia’s biggest noodle maker, gained 1.8 percent to S$2.27.

Genting Singapore Plc (GENS SP), the operator of one of two casino resorts in the city, climbed 3.1 percent to S$1.99. UBS AG increased its rating on the stock to “buy” from “neutral,” saying the company is attracting gamblers from China.

Mewah International Inc. (MII SP), a producer of vegetable oils, surged 5.4 percent to 97 Singapore cents. The stock was rated “outperform” with a share price forecast of S$1.10 in new coverage at Standard Chartered Plc.

Swiber Holdings Ltd. (SWIB SP), a provider of offshore logistic services, gained 3.2 percent to 81 Singapore cents. The company said it won contracts valued at about $27 million for the charter of offshore construction and support vessels.

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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