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Singapore Stocks: CapitaLand, Keppel Corp., Kitchen Culture

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July 22 (Bloomberg) -- Singapore’s Straits Times Index increased 1.4 percent to 3,182.95 at the close. All but six stocks in the gauge of 30 companies advanced. The measure climbed 3.2 percent this week, the most since March.

Shares on the measure trade at an average 14.7 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.

Developers: Shares of Singapore’s biggest homebuilders rallied after government data showed private residential prices rose by 2 percent in the second quarter compared with the previous three months.

CapitaLand Ltd. (CAPL SP), Southeast Asia’s biggest developer, gained 2.4 percent to S$2.95. City Developments Ltd. (CIT SP), the second-largest homebuilder in Singapore, advanced 4 percent to S$10.93. Keppel Land Ltd. (KPLD SP), the rest estate unit of Keppel Corp. (KEP SP), increased 4.4 percent to S$3.84.

Ascott Residence Trust (ART SP), a serviced-apartment operator partly owned by CapitaLand, gained 1.3 percent to S$1.205. The company said second-quarter distributable income more than doubled to S$26.3 million ($21.8 million) from S$11.6 million a year earlier.

Broadway Industrial Group Ltd. (BWAY SP), a maker of components used in disk drives, declined 1.2 percent to 41.5 Singapore cents. The company said second-quarter net income slumped 64 percent from a year earlier to S$3.7 million.

Dyna-Mac Holdings Ltd. (DMHL SP), a provider of offshore engineering services, advanced 3.7 percent to 56 Singapore cents. The company said fourth-quarter net income climbed 29 percent from a year earlier to S$7.6 million.

Keppel Corp. (KEP SP), the world’s biggest maker of oil platforms, climbed 3.1 percent to S$11.16, the biggest advance since March 8. The company said second-quarter net income rose 9.3 percent from a year earlier to S$384.9 million. That beat the average estimate of S$341.5 million by four analysts compiled by Bloomberg.

Kitchen Culture Holdings Ltd. (KCH SP), a supplier of kitchen appliances, surged 10 percent to 33 Singapore cents on its first trading day. The company sold 17 million new shares at 30 Singapore cents each, raising total proceeds of S$5.1 million

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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