Singapore’s Straits Times Index climbed 0.7 percent to 3,177.18 at the close. About two stocks gained for each that fell in the benchmark index of 30 companies.
Shares on the measure trade at an average 14.5 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.
SIA Engineering Co. (SIE SP), the aircraft maintenance arm of Singapore Airlines Ltd. (SIA SP), jumped 3.5 percent to S$4.41, the best performer on the benchmark index. The company declared a special dividend of 10 Singapore cents a share in addition to a final dividend of 14 Singapore cents. The payout will provide “some comfort” to investors even as fourth-quarter net income dropped 18 percent and missed analysts’ estimates, Corrine Png, an analyst at JPMorgan Chase & Co. wrote in a note to clients.
Singapore Telecommunications Ltd. (ST SP), Southeast Asia’s biggest phone company, gained 0.3 percent to S$3.14. The company said it had 402.5 million regional mobile subscribers as of end-March, compared with 382.8 million as of end-December.
United Engineers Ltd. (UEM SP), an engineering company and property developer, added 0.9 percent to S$2.37. The company said first-quarter net income rose 6 percent from a year earlier to S$29.9 million.
YHI International Ltd. (YHI SP), the supplier tires and alloy wheels, increased 3.1 percent to 33 Singapore cents. The company said first-quarter net income rose 32 percent to S$6.35 million.
Yongnam Holdings Ltd. (YNH SP), a Singapore-based construction company, climbed 1.9 percent to 26.5 Singapore cents. The company said it won a contract valued at S$75 million for the supply of structural steel for the city’s new seven-storey stadium.