Singapore’s Straits Times Index lost 0.3% to 2,785.31 as of 9:16 a.m. local time. About two stocks rose for each that declined among the measure’s 30 members. The following shares were among the most active in the market.

Mermaid Maritime Pcl (MMT SP), a provider of drilling services in the oil and gas industry, climbed 5.1% to 51.5 cents, the highest since May 21. The company’s subsidiary secured a drilling contract with a potential value of US$24.5 million ($33.7 million) from Chevron Indonesia Co., Mermaid Maritime said.

 

Noble Group (NOBL SP), a commodities supplier backed by China’s sovereign wealth fund, fell 0.5% to $1.84, halting a two-day, 7.6% rally. The company said it is increasing the size of its credit-guarantee facility to US$1.2 billion from $800 million.

 

Raffles Education Corp. (RLS SP) rose 1.5% to 33 cents. The company said in a statement to the Singapore stock exchange yesterday it hasn’t been served a writ or received a fine from Thailand’s Higher Education Commission. It was responding to a report in the Straits Times yesterday that said the commission is taking legal action against the company’s unit for operating without its permission.

 

Singapore Telecommunications (ST SP) climbed 0.3% to $2.97, a third day of gains. SingTel Optus Pty Ltd.,a unit of Southeast Asia’s largest phone company, said its HK$1 billion ($179.8 million) 10-year note issue will carry an annual coupon of 3.825% per annum and mature on June 10, 2020.