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Singapore Stocks: Fraser & Neave, Pacific Andes, Stamford Land

Feb. 10 (Bloomberg) -- Singapore’s Straits Times Index fell 0.7 percent to 2,960 at the close, erasing gains of as much as 0.5 percent. Three shares fell for each that rose in the 30-member gauge, which climbed 1.4 percent this week.

The following were among the most active shares in the market. Stock symbols are in parentheses after company names.

Palm-oil producers: Crude palm-oil futures for April delivery decreased as much as 1 percent in Kuala Lumpur today.

Wilmar International Ltd. (WIL SP), the world’s largest palm-oil processor, slid 2.1 percent to S$5.58. Golden Agri-Resources Ltd. (GGR SP), the world’s second-biggest palm-oil producer by sales, lost 1.3 percent to 77.5 Singapore cents.

Fraser & Neave Ltd. (FNN SP), the property developer and beverage maker, gained 1.4 percent to S$6.52. DBS Group Holdings Ltd. maintained its “buy” rating, saying earnings may improve after net income fell 23 percent from a year earlier in the three months ended Dec. 31. Gains from property development should pick-up as it books profits from residential projects, analyst Andy Sim wrote in a note today.

Pacific Andes Resources Development Ltd. (PAH SP) climbed 4.1 percent to 25.5 Singapore cents after the supplier of frozen seafood said first-quarter net income increased 39 percent from a year earlier to HK$139.6 million ($18 million).

Stamford Land Corp. (STL SP) sank 4.4 percent to 54.5 Singapore cents after the owner of hotels and travel agencies said nine-month net income declined 37 percent from a year earlier to of S$35.2 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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