Singapore’s Straits Times Index gained 0.7% to 2,764.33 as of the 12:30 p.m. trading break. Five stocks advanced for each that fell on the 30-member gauge.

Shares on the measure trade at 13.6 times estimated earnings, compared with about 17.5 times at the beginning of the year, according to Bloomberg data. The following shares were among the most active in the market.

 

C2O Holdings (C2O SP), a marine logistics services provider, climbed 2.7% to 38.5 cents. The company said it is proposing a merger with rival Swissco International (SWCO SP). Swissco gained 0.6% to 86.5 cents.

 

Genting Singapore Plc (GENS SP), owner of one of two casino resorts in the city-state, increased 1% to $1.05. Macquarie Group raised its share-price forecast to $1.19 from $1.10 and maintained its “outperform” rating.

 

Parkway Holdings (PWAY SP), Asia’s biggest hospital operator, rose 1.6% to $3.83. Fortis Healthcare, which holds a 25.4% stake in Parkway, could be raising funds to mount a “potential general offer” for the Singapore- based company, according to UBS AG.

 

Fortis said yesterday it plans to raise as much as 27.5 billion rupees ($826.6 million) after Khazanah Nasional Bhd., Malaysia’s state investment company, submitted a bid to take control of Parkway. Fortis’ board also approved increasing its borrowing limit to 60 billion rupees, it said.

 

Parkway Life Real Estate Investment Trust (PREIT SP): The trust controlled by Parkway Holdings, gained 1.5% to $1.36. The trust said it will buy six properties in Japan valued at $60.5 million.

 

Petra Foods (PETRA SP), the largest supplier of chocolate ingredients in Indonesia, dropped 3.3% to $1.16 after falling as much as 10%. The company said it raised $85.2 million selling 78.9 million shares at $1.08 each via a placement.

 

Rickmers Maritime Singapore (RMT SP), a shipping trust, advanced 4.4% to 36 cents. The company said its creditors have agreed to extend the maturity of a US$130 million ($183.7 million)loan facility by another five years. Separately, Polaris Shipmanagement Co. agreed to discharge the company from its obligation to purchase seven container ships, valued at US$918.7 million. Rickmers will pay Polaris a penalty of US$64 million.

 

Yanlord Land Group (YLLG SP), a China-based developer, gained 1.3% to $1.61. The company said it and a unit of the Government of Singapore Investment Corp. have formed a joint venture company to develop a residential complex in Chengdu, China.