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Singapore Stocks: Golden Agri-Resources, OCBC, Roxy-Pacific

Singapore’s Straits Times Index dropped 0.8 percent to 3,107.01 at the close, having swung between gains and losses at least eight times. Three stocks fell for each that rose in the 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.

Palm-oil producers: Crude palm-oil futures for October delivery fell as much as 1.1 percent in Kuala Lumpur today. Golden Agri-Resources Ltd. (GGR SP), the world’s second-biggest palm-oil producer by sales, decreased 1.4 percent to 71 Singapore cents. Indofood Agri Resources Ltd. (IFAR SP), the plantation unit of Indonesia’s No. 1 noodle maker, declined 2.5 percent to S$1.59.

LMA International NV (LMA SP), a medical-equipment maker, surged 10 percent to 33 Singapore cents. The company said second-quarter net income jumped to $10.4 million from $2.2 million a year earlier.

Oversea-Chinese Banking Corp. (OCBC SP), Singapore’s second-largest lender by market value, slipped 2 percent to S$9.68. The company said second-quarter net income increased 15 percent from a year earlier to S$577 million ($476 million). That’s less than the S$603 million average of eight estimates compiled by Bloomberg.

Roxy-Pacific Holdings Ltd. (ROXY SP), a Singapore-based homebuilder, gained 2.2 percent to 46.5 Singapore cents. The company said second-quarter net income increased 15 percent from a year earlier to S$14.9 million.

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