Singapore Stocks: Kim Eng Holdings, Raffles Medical, STX OSV
Singapore’s Straits Times Index gained 0.2 percent to 3,153.01 at the close, trimming this week’s decline to 1 percent. Seven stocks advanced for every six that dropped in benchmark equity index of 30 companies.
Shares on the measure trade at an average 15.3 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.
Hi-P International Ltd. (HIP) , the electronics manufacturing services provider whose clients include BlackBerry-maker Research in Motion Ltd., climbed 2 percent to S$1.02. Research In Motion yesterday reported third-quarter revenue and profit that topped analysts’ estimates, helped by demand for models such as the Curve and the touch-screen Torch.
Kim Eng Holdings Ltd. (KEH SP), a Singapore-based brokerage, surged 13 percent to S$2.24. Responding to queries from the Singapore exchange, Kim Eng said it’s been approached by unidentified parties interested in buying shares in the company.
Raffles Medical Group Ltd. (RFMD) , a Singapore-based hospital operator, gained 1.3 percent to S$2.37. The company plans to invest S$300 million ($229 million) to build a hospital in China, the South China Morning Post reported, citing Raffles Medical Chairman Loo Choon Yong.
STX OSV Holdings Ltd. (SOH) , the world’s biggest maker of oil-rig support vessels by sales, increased 1.8 percent to S$1.13, its highest close since it started trading on Nov. 12. The company said it secured a contract valued at 600 million Norwegian kroner ($101 million) to design and build an offshore subsea construction vessel.
Super Group Ltd. (SUPER) , the maker of instant cereal and beverages, climbed 2.9 percent to S$1.43. UOB-Kay Hian Holdings Ltd. initiated coverage on the stock with a “buy” rating and a share-price forecast to S$1.66.
To contact the reporter on this story: Jonathan Burgos in Singapore at firstname.lastname@example.org.
To contact the editor responsible for this story: Nick Gentle at email@example.com.