Singapore Stocks: CapitaLand, Goodland, Singapore Exchange
Singapore’s Straits Times Index gained 0.3 percent to 3,181.41 at the close of trading. Seventeen stocks gained and 11 fell in the benchmark equity index of 30 companies.
Shares on the measure trade at an average 15.5 times estimated earnings, compared with about 17.4 times at the beginning of the year, 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.
CapitaLand Ltd. (CAPL SP), Southeast Asia’s biggest developer, climbed 0.3 percent to S$3.68. The company agreed to sell 163 units at Singapore downtown property “The Adelphi” for a total of S$218.1 million ($167 million). It expects to earn an after-tax profit of about S$15.7 million from the deal.
Goodland Group Ltd. (GOOD SP), the real-estate company, surged 13 percent to 18 Singapore cents. The company said it will issue new warrants at S$0.01 each, with each warrant carrying the right to buy one new share in the company.
Singapore Exchange Ltd. (SGX SP), the operator of the stock exchange, lost 0.9 percent to S$8.57. ASX Ltd., which is selling itself to Singapore Exchange Ltd., said a study it commissioned by Access Economics confirms its view that the deal is ultimately in Australia’s interest.
Straits Asia Resources Ltd. (SAR SP), the owner of coal mines in Indonesia, dropped 2.2 percent to S$2.69. The company was cut to “reduce” from “buy” by Nomura Holdings Inc., which said it was the “most expensive stock” in its industry given the prospect of lower earnings.
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