Singapore Stocks: Genting, Global Logistic, Sembcorp Marine
Shares on the measure trade at an average 14.2 times estimated earnings, compared with about 15.6 times at the end of 2010, 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.
Logistics companies in Japan: Shares of Singapore Logistics companies with facilities in Japan advanced as companies from Hitachi Ltd. to IHI Corp. restarted some operations that were halted following the March 11 earthquake.
Global Logistic Properties Ltd. (GLP) , the logistics that counts Japan as its biggest market, climbed 3.8 percent to S$1.90, the best performer on the benchmark Straits Times Index. Mapletree Logistics Trust (MLT) , which gets about 19 percent of revenue from Japan, gained 2.3 percent to 90.5 Singapore cents.
Palm-oil suppliers: Crude palm-oil futures for June delivery increased as much as 2.2 percent in Kuala Lumpur today.
Golden Agri-Resources Ltd. (GGR) , the world’s second- biggest palm-oil producer, climbed 2.2 percent to 69.5 Singapore cents. Indofood Agri Resources Ltd. (IFAR) , the palm-oil unit of Indonesia’s biggest noodle maker, gained 1.4 percent to S$2.25. Wilmar International Ltd. (WIL) , the world’s largest palm-oil trader, advanced 1.5 percent to S$5.43.
Tourism-related stocks: Singapore may see increased visitor arrivals this year as tourists avoiding Japan in the aftermath of the March 11 earthquake and ensuing nuclear crisis look for alternative destinations, DBS Group Holdings Ltd said.
“Potential inbound travelers into Japan could look for alternative holiday destinations in the coming months,” Derek Tan, an analyst at DBS Group, wrote in a note to clients today. ‘Singapore could benefit from this change in travel pattern, which might more than offset any potential weakness from Japan.”
CDL Hospitality Trusts (CDREIT) , the hotel operator partly owned by City Developments Ltd. (CIT SP), gained 1.5 percent to S$2.01. Genting Singapore Plc (GENS) , operator of one of two casino resorts in the city state, climbed 3.5 percent to S$2.07. Singapore Airlines Ltd. (SIA) , the world’s second- biggest airline by market value, rose 1.7 percent to S$13.54.
Sembcorp Marine Ltd. (SMM) , the world’s second-biggest builder of oil platforms, increased 0.9 percent to S$5.79. OCBC Investment Research raised its share-price forecast to S$6.30 from S$6.17 and maintained its “buy” rating.
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