Singapore Stocks: Amtek Engineering, Keppel Corp., Olam, SATS
Singapore’s Straits Times Index (FSSTI) gained 0.4 percent to 2,676.47 as of the 5:10 p.m. local time close. Three shares rose for each that fell in the 30-member gauge, which is poised for its first weekly advance in three weeks.
The following were among the most active shares in the market. Stock symbols are in parentheses after the company names.
Exporters: Makers of consumer electronics, shipping companies and port operators rose on speculation shipments to the U.S. will increase on improving economic data. Reports showed the number of Americans applying for unemployment benefits unexpectedly dropped last week and consumer confidence rose more than forecast in December.
Amtek Engineering Ltd. (AMTK) , a supplier of precision components to companies including Sony Corp., jumped 8 percent to 61 Singapore cents. Neptune Orient Lines Ltd. (NOL SP), Southeast Asia’s biggest container line, added 0.4 percent to S$1.15. Hutchison Port Holdings Trust (HPHT SP), the owner of port assets in Hong Kong and China, advanced 0.8 percent to 61.5 U.S. cents.
Keppel Corp. (KEP) , the world’s biggest builder of oil platforms, advanced 3 percent to S$9.53. The company said its Fernvale unit won a contract valued at $809 million to build a semi-submersible drilling rig for Urca Drilling BV.
Olam International Ltd. (OLAM) , a Singapore-based producer of agricultural commodities, gained 0.5 percent to S$2.18. The company said it’s planning to buy a 75.2 percent stake in Macao Commodities Trading SL, a supplier of cocoa, dried fruits, vegetables fats and dairy products in the Iberian region, for 15 million euros ($19.6 million).
SATS Ltd. (SATS) , the airport services provider partly owned by Temasek Holdings Pte, climbed 2.8 percent to S$2.22. The company said it and partner Creuers Del Port De Barcelona S.A. won a bid to operate the new Singapore International Cruise Terminal for 10 years beginning in the second quarter of 2012.
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