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Singapore Stocks: Cerebos, Genting, Sembcorp Marine, STX OSV

Singapore’s Straits Times Index advanced 0.6 percent to 3,156.26 at the close. Two stocks climbed for each that fell in the benchmark index of 30 companies.

Shares on the measure trade at an average 14.4 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.

CapitaMalls Asia Ltd. (CMA SP), the owner of shopping malls in Singapore, Japan, China, India and Malaysia, lost 0.6 percent to S$1.71. Daiwa Securities Group Inc. cut its rating on the stock to “hold” from “outperform.”

Cerebos Pacific Ltd. (CER SP), the maker of health tonic Brands Essence of Chicken, jumped 2.8 percent to S$5.24. The company said first-quarter net income climbed 28 percent from a year earlier to S$29.1 million ($23.6 million).

Genting Singapore Plc (GENS SP), operator of one of two casino resorts in the city-state, gained 0.5 percent to S$2.18. IIFL Research, a unit of brokerage India Infoline Ltd., initiated coverage of Genting Singapore with a “buy” rating and a share-price forecast of S$2.62.

Sembcorp Marine Ltd. (SMM SP), the world’s second-biggest builder of oil platforms, added 0.4 percent to S$5.60. The company said first-quarter net income increased 1.2 percent from a year earleir to S$150.6 million. While the company’s profit missed estimates, earnings growth is likely to accelerate in the subsequent quarters, Goldman Sachs Group Inc. wrote in a note to clients today.

STX OSV Holdings Ltd. (SOH SP), the world’s biggest maker of oil-rig support vessels by sales, increased 1.7 percent to S$1.18. The company said first-quarter net income rose 28 percent to 310 million Norwegian Kroner ($56.6 million).

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