Singapore’s Straits Times Index fell less than 0.1 percent to 3,014.98 at the close. About the same number of shares gained and dropped in the 30-member gauge.
The following were among the most active shares in the market. Stock symbols are in parentheses after company names.
Adampak Ltd. (AMPK SP) surged 20 percent to 41.5 Singapore cents, heading for its biggest advance since the stock debuted in 2004. Navis Capital Partners Ltd., a private equity fund, offered to buy the packaging materials maker for S$110.7 million ($89 million), or 42 Singapore cents a share.
DBS Group Holdings Ltd. (DBS SP) dropped 2.8 percent to S$13.79 after Southeast Asia’s biggest lender offered to buy PT Bank Danamon Indonesia for about $7.2 billion. DBS will pay parent Temasek Holdings Pte 45.2 trillion rupiah ($4.9 billion) in new shares for its 67 percent stake in the Indonesian lender and buy the remaining stock for 7,000 rupiah each in cash, a 52 premium from the closing price of 4,600 rupiah on March 30.
Keppel Corp. (KEP SP) added 0.4 percent to S$10.96 after the world’s biggest builder of oil platforms said its Keppel Amfels Inc. unit won a $205 million contract to build a jack-up rig for Mexico’s Perforadora Central SA de CV.
STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, tumbled 12 percent to S$8.23, the biggest decline since October 2008. Investors are concerned that the company’s first-quarter earnings may fall short of consensus estimates, Shin Ji Yoon, analyst at KTB Investment & Securities, said in a telephone interview today. The company’s spokesman declined to comment.