Singapore’s Straits Times Index increased 1.4 percent to 2,830.14 at the close. Just two shares declined in the index of 30 companies.
The following shares were among the most active in the market. Stock symbols are in parentheses after the company names.
BBR Holdings Ltd. (BBR SP), a construction company, gained 4.9 percent to 21.5 Singapore cents after winning a public housing contract valued at S$179 million ($139 million).
China Minzhong Food Corp. (MINZ SP), a vegetable supplier, advanced 4.9 percent to 97 Singapore cents after saying third-quarter net income surged 78 percent to 93.1 million yuan ($14.7 million) from a year earlier.
Golden Agri-Resources Ltd. (GGR SP), the world’s second-biggest palm-oil producer by sales, rose 3 percent to 68 Singapore cents after saying third-quarter net income increased 11 percent to $109.6 million from a year earlier.
Mewah International Inc. (MII SP), a producer of vegetable oils, sank 6.7 percent to 48.5 Singapore cents. DBS Group Holdings Ltd. cut its rating on the stock to “sell” from “fully valued,” citing the 69 percent slump in the company’s third-quarter profit.
Neptune Orient Lines Ltd. (NOL SP), Southeast Asia’s biggest container carrier, advanced 2.9 percent to S$1.075. A.P. Moeller-Maersk A/S, the world’s largest shipping line, and 14 other companies in the industry plan to raise rates on Asia-U.S. routes beginning Jan. 1.
Noble Group Ltd. (NOBL SP), a Hong Kong-based commodity supplier, gained 2.5 percent to S$1.21. The company is in talks to hire Yusuf Alireza, former Goldman Sachs Group Inc. Asia-Pacific co-president, as chief executive officer, the Wall Street Journal said, citing an unidentified person familiar with the matter. The stock tumbled 25 percent last week after the company reported its first loss in 14 years and CEO Ricardo Leiman resigned.
PEC Ltd. (PEC SP), a provider of engineering services to the energy and pharmaceutical industries, dropped 5.5 percent to 77.5 Singapore cents after first-quarter tumbled 71 percent.