Singapore Stocks: Chemoil Energy, Global Logistic, Olam, STX OSV
Singapore’s Straits Times Index (FSSTI) rose 0.7 percent to 3,008.53 as of 12:21 p.m. local time, heading for its highest close since Aug. 4. Four shares gained for each that fell in the 30-member gauge.
The following were among the most active shares in the market. Stock symbols are in parentheses after company names.
Chemoil Energy Ltd. (CHEME) surged 15 percent to 35 Singapore cents after the supplier of fuel to the maritime industry posted a net profit of $19.5 million, compared with a net loss of $1.8 million.
Global Logistic Properties Ltd. (GLP) , the owner of warehouses in China and Japan, added 1 percent to S$2. The company said third-quarter net income rose to $86.3 million from $83.4 million a year earlier.
Olam International Ltd. (OLAM) dropped 1.5 percent to S$2.57 after the supplier of agricultural commodities said second-quarter profit fell 12 percent from a year earlier to S$128.5 million ($102 million) because of waning demand for cotton and timber products.
Sakari Resources Ltd. (SAR) climbed 5.1 percent to S$2.46 after the owned of coal mines in Indonesia reported fourth-quarter net income doubled.
STX OSV Holdings Ltd. (SOH) , the world’s biggest maker of oil-rig support vessels, jumped 9.7 percent to S$1.69, heading for its highest close since its started trading in November 2010, after posting fourth-quarter profit that beat analysts’ estimates.
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