Singapore Stocks: Golden Agri, United Overseas Bank, Wilmar
Singapore’s Straits Times Index climbed 0.1 percent to 3,212.46 as of the close of trading. The same number of stocks rose and fell on the benchmark index of 30 companies.
Shares on the measure trade at an average 15.7 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.
Palm-oil producers: Crude palm-oil futures for March delivery declined 1.2 percent in Kuala Lumpur yesterday.
Golden Agri-Resources Ltd. (GGR SP), the world’s second- biggest palm-oil producer, fell 0.6 percent to 80 Singapore cents.
United Overseas Bank Ltd. (UOB SP), the smallest of Singapore’s three banks by market value, gained 1 percent to S$18.44. The company said it won approval from the China Securities Regulatory Commission for a joint venture with China Ping An Trust Co. and Sanya Yingwan Tourism Co.
Wilmar International Ltd. (WIL SP), the world’s biggest palm-oil trader, slipped 1.1 percent to S$5.63. The company said it’s jointly bidding for a site in China’s Yingkou City with Kerry Properties Ltd. and Shangri-La Asia Ltd. Wilmar holds 35 percent of the joint venture and the investment amount for the group is expected to be as much as 7.5 billion yuan ($1.1 billion).
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