Singapore Stocks: Golden Agri, ST Engineering, Tiger Airways
Singapore’s Straits Times Index fell 1.1 percent to 2,757.23 at the close. Six stocks fell for each two that rose in the index of 30 companies.
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 November delivery dropped as much as 1.4 percent in Kuala Lumpur today, heading for the first decline in three days.
Golden Agri-Resources Ltd. (GGR) , the world’s second- biggest palm-oil producer by sales, sank 2.2 percent to 67 Singapore cents. Wilmar International Ltd. (WIL) , the world’s largest palm-oil processor, slipped 1 percent to S$5.19. First Resources Ltd. (FR) , an Indonesian plantation company, dropped 2.3 percent to S$1.305.
Singapore Technologies Engineering Ltd. (STE) , Asia’s biggest aircraft maintenance company, dropped 1.4 percent to S$2.89. The company said Raphael Chin has been named as acting chief financial officer of its U.S. unit Vision Technologies Systems Inc. Chief Financial Officer Patrick Lee Swee Ching has taken a leave of absence pending an investigation by the Corrupt Practices Investigation Bureau and an internal inquiry, the company said.
Tiger Airways Holdings Ltd. (TGR) , the budget carrier partly owned by Singapore Airlines Ltd. (SIA SP), fell 2.2 percent to 89.5 Singapore cents. The company said it will review its plan to set up a new low-fare venture with Thai Airways International Pcl. after delays in winning Thailand’s regulatory approval.
To contact the reporter on this story: Jonathan Burgos in Singapore at firstname.lastname@example.org.