Singapore Stocks: Genting, Global Logistic, United Engineers
Singapore’s Straits Times Index added 0.1 percent to 2,790.94 at the close. Two shares rose for each that fell in the index of 30 companies. The gauge dropped 2 percent this week, the most since Sept. 23.
The following shares were among the most active in the market. Stock symbols are in parentheses after the company names.
Asia Pacific Breweries Ltd. (APB) , the maker of Tiger Beer, gained 1.9 percent to S$26.50 after saying full-year net income climbed 16 percent to S$303.6 million ($236 million) from a year earlier. Parent Fraser and Neave Ltd. (FNN) rose 2 percent to S$6.21.
Genting Singapore Plc (GENS) , a casino-resort operator in the city, slumped 5.3 percent to S$1.595, its biggest decline since Aug. 19. Citigroup Inc. lowered its rating on the stock to “sell” from “buy,” citing rising provisions for bad debts.
The company yesterday reported third-quarter net income rose 12 percent to S$209.7 million, missing the average estimate of S$274 million from two analysts surveyed by Bloomberg.
Global Logistic Properties Ltd. (GLP) , the owner of warehouses in Japan and China, jumped 4.1 percent to S$1.78. The company said second-quarter net income soared 122 percent from a year earlier to $201.9 million.
United Engineers Ltd. (UEM) , a provider of engineering design services for power plants and water-treatment facilities, climbed 3.6 percent to S$1.855. It said third-quarter net income surged to S$159.8 million from S$11.9 million a year earlier.
To contact the reporter on this story: Jonathan Burgos in Singapore at firstname.lastname@example.org.