Singapore Stocks: Keppel Land, Straits Asia Resources, Wilmar
Singapore’s Straits Times Index (FSSTI) climbed 1.3 percent to 3,165.80 at the close. All but three stocks in the benchmark index of 30 companies advanced.
Shares on the measure trade at an average 14.4 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.
Palm-oil producers: Crude palm-oil futures for July delivery gained as much as 2.3 percent in Kuala Lumpur today, heading for a third day of advance.
First Resources Ltd. (FR) , an Indonesian palm-oil producer, increased 1.5 percent to S$1.40. Indofood Agri Resources Ltd. (IFAR) , the palm-oil unit of Indonesia’s biggest noodle maker, rose 0.5 percent to S$2.15. Wilmar International Ltd. (WIL) , the world’s biggest palm-oil trader, climbed 1.9 percent to S$5.27.
Keppel Land Ltd. (KPLD) , the real-estate unit of Keppel Corp. (KEP SP), rose 1.4 percent to S$4.42. The company said first-quarter profit rose 46 percent to S$92.1 million ($74.2 million) and revenue more than tripled to S$357.9 million.
Straits Asia Resources Ltd. (SAR) , the owner of coal mines in Indonesia, increased 3.9 percent to S$2.66. The company said first-quarter net income rose to $41.4 million from $11.2 million a year earlier.
United Overseas Bank Ltd. (UOB) gained 1.4 percent to S$19.66. The Australian unit of Singapore’s smallest lender by market value plans to sell three-year bonds in its first sale of Australian dollar-denominated debt. The benchmark-sized sale of senior unsecured notes will be priced by tomorrow, according to an e-mailed statement from Australia & New Zealand Banking Group Ltd., which is helping manage the sale.
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