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Singapore Stocks: Amtek, Noble Group, Olam, SingTel, Sembcorp

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May 12 (Bloomberg) -- Singapore’s Straits Times Index sank 1.5 percent to 3,130.45 at the close, its biggest decline since March 15. Six stocks dropped for each that rose in the benchmark index of 30 companies.

Shares on the measure trade at an average 14.3 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, slumped 3 percent in New York yesterday, its first decline in three days.

Olam International Ltd. (OLAM SP), a Singapore-based supplier of agricultural commodities, declined 2.8 percent to S$2.81. Noble Group Ltd. (NOBL SP), Hong Kong-based supplier of energy, food and mining commodities, slumped 3.7 percent to S$2.09.

Noble said first-quarter net income increased to $203 million from $115 a year earlier, beating the average estimate of $152.3 million by three estimates compiled by Bloomberg.

Amtek Engineering Ltd. (AMTK SP), a supplier of precision components to companies such as Sony Corp., gained 2.6 percent to S$1.13. The company said third-quarter net income almost tripled to S$9.9 million ($8 million) from S$3.6 million a year earlier.

Oversea-Chinese Banking Corp. (OCBC SP), the lender that owns Singapore’s biggest life insurer, slipped 1.2 percent to S$9.39 after saying first-quarter net income declined 7 percent from a year ago to S$628 million.

Sembcorp Industries Ltd. (SCI SP): The owner of the world’s second-biggest builder of oil platforms lost 2.3 percent to S$5.16. The company said first-quarter net income rose 0.7 percent to S$159.9 million. That missed the S$173.7 million average estimate of three analysts compiled by Bloomberg.

Singapore Telecommunications Ltd. (ST SP), Southeast Asia’s biggest phone company, gained 0.6 percent to S$3.16. SingTel, as the company is known, said shareholders will get a special dividend of 10 Singapore cents a share, in addition to the final payout of 9 cents per unit. Separately, it said fourth-quarter net income fell 2.3 percent from a year earlier to S$991.7 million, beating the S$988 million average estimate of five analysts compiled by Bloomberg.

To contact the reporter on this story: Jonathan Burgos in Singapore at

To contact the editor responsible for this story: Nick Gentle at

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