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Singapore Stocks: Malacca, Neptune Orient, Sembcorp Industries

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July 26 (Bloomberg) -- Singapore’s Straits Times Index gained 0.5 percent to 3,186.57 at the close. Two stocks rose for each that fell in the gauge of 30 companies.

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.

Malacca Trust Ltd. (MTL SP), an Indonesia-based financial services company, surged 43 percent to 31.5 Singapore cents on its first trading day. The company sold 85 million new shares at 22 Singapore cents each, raising total proceeds of S$18.7 million ($15.5 million).

Nam Cheong Ltd. (NCL SP), a Malaysian builder of offshore support vessels, jumped 9 percent to 19.4 Singapore cents. The company said a unit won contracts valued at $38 million for the construction of three anchor handling and towing supply vessels.

Neptune Orient Lines Ltd. (NOL SP), Southeast Asia’s biggest container carrier, lost 0.7 percent to S$1.44. The company said average freight revenue in the four weeks to July 1 declined 13 percent from a year earlier. It transported 5 percent more cargo during the period.

Sembcorp Industries Ltd. (SCI SP), an industrial conglomerate that gets about 46 percent of its revenue from utilities, added 0.6 percent to S$5.13. The company said a unit got a S$121 million refuse collection and recycling contract in Singapore.

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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