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Singapore Stocks: Hyflux, Noble, Venture Corp., Tiger Airways

Aug. 5 (Bloomberg) -- Singapore’s Straits Times Index sank 3.6 percent to 2,994.78 at the close, the most since March 2009. All stocks in the index of 30 companies dropped. The measure slumped 6.1 percent this week, the biggest weekly drop since February 2009.

Shares on the measure trade at an average 13.7 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.

Commodity suppliers: The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, declined 2.8 percent in New York yesterday, extending its drop for a second day. Noble Group Ltd. (NOBL SP), a Hong Kong-based supplier of energy, food and mining commodities, plunged 6.9 percent to S$1.625. Olam International Ltd. (OLAM SP), a Singapore-based supplier of agricultural commodities, fell 4.5 percent S$2.53.

Hyflux Ltd. (HYF SP), Singapore’s biggest water treatment company, slipped 3.6 percent to S$1.88. The company said first-half net income dropped 35 percent from a year earlier to S$21.9 million.

Tiger Airways Holdings Ltd. (TGR SP), the budget carrier partly owned by Singapore Airlines Ltd. (SIA SP), tumbled 7.8 percent to S$1.06. The company said it had a first-quarter net loss of S$20.6 million, compared with S$1.9 million profit a year earlier. Separately, the resumption of the company’s flights in Australia has been delayed as court proceedings have been adjourned to Aug. 11, it said. Regulators grounded Tiger flights on July 1 because of safety concerns.

Venture Corp. (VMS SP), Singapore’s biggest publicly traded provider of electronics manufacturing services provider, lost 0.8 percent to S$7.21. The company said second-quarter net income slid 8.4 percent from a year earlier to S$42 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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