Bloomberg the Company & Products

Bloomberg Anywhere Login

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: Genting, Global Logistic, Sembcorp Marine

March 30 (Bloomberg) -- Singapore’s Straits Times Index gained 1.3 percent to 3,095.32 at the close. All but three stocks in the benchmark index of 30 companies advanced.

Shares on the measure trade at an average 14.2 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.

Logistics companies in Japan: Shares of Singapore Logistics companies with facilities in Japan advanced as companies from Hitachi Ltd. to IHI Corp. restarted some operations that were halted following the March 11 earthquake.

Global Logistic Properties Ltd. (GLP SP), the logistics that counts Japan as its biggest market, climbed 3.8 percent to S$1.90, the best performer on the benchmark Straits Times Index. Mapletree Logistics Trust (MLT SP), which gets about 19 percent of revenue from Japan, gained 2.3 percent to 90.5 Singapore cents.

Palm-oil suppliers: Crude palm-oil futures for June delivery increased as much as 2.2 percent in Kuala Lumpur today.

Golden Agri-Resources Ltd. (GGR SP), the world’s second-biggest palm-oil producer, climbed 2.2 percent to 69.5 Singapore cents. Indofood Agri Resources Ltd. (IFAR SP), the palm-oil unit of Indonesia’s biggest noodle maker, gained 1.4 percent to S$2.25. Wilmar International Ltd. (WIL SP), the world’s largest palm-oil trader, advanced 1.5 percent to S$5.43.

Tourism-related stocks: Singapore may see increased visitor arrivals this year as tourists avoiding Japan in the aftermath of the March 11 earthquake and ensuing nuclear crisis look for alternative destinations, DBS Group Holdings Ltd said.

“Potential inbound travelers into Japan could look for alternative holiday destinations in the coming months,” Derek Tan, an analyst at DBS Group, wrote in a note to clients today. ‘Singapore could benefit from this change in travel pattern, which might more than offset any potential weakness from Japan.”

CDL Hospitality Trusts (CDREIT SP), the hotel operator partly owned by City Developments Ltd. (CIT SP), gained 1.5 percent to S$2.01. Genting Singapore Plc (GENS SP), operator of one of two casino resorts in the city state, climbed 3.5 percent to S$2.07. Singapore Airlines Ltd. (SIA SP), the world’s second-biggest airline by market value, rose 1.7 percent to S$13.54.

Sembcorp Marine Ltd. (SMM SP), the world’s second-biggest builder of oil platforms, increased 0.9 percent to S$5.79. OCBC Investment Research raised its share-price forecast to S$6.30 from S$6.17 and maintained its “buy” rating.

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.