Singapore Stocks: Cosco, Hyflux, Keppel Corp., Singapore Air
Singapore’s Straits Times Index (FSSTI) climbed 1.1 percent to 3,172.08 at the close. Eight stocks gained for each that fell in the benchmark index of 30 companies.
Shares on the measure trade at an average 14.1 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.
Transportation companies: Oil traded near a two-week low in New York as U.S. stockpiles increased. Neptune Orient Lines Ltd. (NOL SP), Southeast Asia’s biggest container carrier, increased 3.1 percent to S$2.01. Singapore Airlines Ltd. (SIA) , the world’s second-largest carrier by market value, advanced 4.9 percent to S$14.10.
Cosco Corp. Singapore Ltd. (COS SP), a China-based shipbuilder, increased 3.6 percent to S$2.32. The company said a unit won a contract, valued at $66 million, to build a drilling rig for Norway’s Seadrill Ltd.
Hyflux Ltd. (HYF) , Singapore’s biggest public traded water treatment company, rose 1.4 percent to S$2.19. The company said it plans to sell up to S$200 million ($159 million) of 6 percent perpetual Class A preference shares, callable at the option of the company in 2018.
Keppel Corp. (KEP SP), the world’s biggest builder of oil platforms, gained 0.8 percent to S$12.60. The company said its offshore and marine business has won orders worth S$240 million from international customers.
Lian Beng Group Ltd. (LBG) , a construction company, climbed 2.8 percent to 37 Singapore cents. The company said net profit more than doubled to S$36.6 million in the nine months ended February.
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