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Singapore Stocks: Biosensors, Olam, Otto Marine, SMRT

Singapore’s Straits Times Index slipped 0.1 percent to 3,189.85 at the close. Two stocks fell for each that rose in the gauge of 30 companies.

Shares on the measure trade at an average 14.8 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.

Biosensors International Group Ltd. (BIG SP), a maker of drug-coated stents used to treat blocked arteries, gained 1.9 percent to S$1.36. The company said first-quarter net income increased to $22.6 million from $3.2 million a year earlier.

Olam International Ltd. (OLAM SP), the commodities trader part-owned by Temasek Holdings Pte, climbed 2.7 percent to S$2.69. The company is raising $1.25 billion from a loan facility being arranged by 31 banks as early as today, according to a person familiar with the matter. That’s in addition to S$100 million ($83 million) of seven-year notes being marketed for the company by HSBC Holdings Plc, according to another person familiar with the matter.

Otto Marine Ltd. (OTML SP), a shipbuilder, dropped 2.4 percent to 20 Singapore cents. The company said Norway’s Mosvold Supply Ltd. has canceled a contract and demanded a refund of payments amounting to $29.4 million. Otto Marine is seeking advice from lawyers on its next course of action.

SMRT Corp. (MRT SP), Singapore’s biggest commuter train operator, dropped 1.3 percent to S$1.855. The company said first-quarter net income fell 8.9 percent from a year earlier to S$34.8 million.

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