Singapore Stocks: Cosco, Neptune Orient Lines, Sembcorp Marine
The following were among the most active shares in the market. Stock symbols are in parentheses after company names.
Cosco Corp. Singapore Ltd. (COS) , the shipbuilding unit of China’s biggest shipping company, dropped 4.1 percent to S$1.18 after saying full-year net income declined 44 percent to S$139.7 million ($111 million).
Neptune Orient Lines Ltd. (NOL) (NOL SP), Southeast Asia’s biggest container carrier, slipped 2.2 percent to S$1.315, extending losses for a fourth day. Kim Eng Holdings Ltd. cut its rating on the stock to “sell” from “hold.” citing the company’s disappointing earnings.
Sembcorp Marine Ltd. (SMM) gained 1.2 percent to S$5.29 after the world’s second-largest builder of oil platforms posted fourth-quarter profit that beat estimates. The company said fourth-quarter net income fell 4.3 percent from a year earlier to S$229 million, exceeding the S$193.7 million average of 10 analysts’ estimates in a Bloomberg survey.
United Overseas Bank Ltd. (UOB) slid 1.1 percent to S$18.20 after Southeast Asia’s third-largest lender reported fourth-quarter profit dropped 21 percent drop from a year earlier to S$558 million. That was lower than the S$593.8 million average of seven analysts’ estimates compiled by Bloomberg.
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