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Singapore’s Straits Times Index gained 0.3% to 3,169.95 as of 9:38 a.m. Twenty-two stocks advanced and two fell in the benchmark equity index of 30 companies.
Shares on the measure trade at an average 15.5 times estimated earnings, compared with about 17.4 times at the beginning of the year, according to data compiled by Bloomberg.
The following shares were among the most active in the market. Stock symbols are in parentheses after the company name.
Palm-oil producers: Crude palm-oil futures for March delivery jumped 2.5% in Kuala Lumpur yesterday.
First Resources (FR SP), an Indonesian palm plantation company, advanced 0.7% to $1.54. Golden Agri-Resources (GGR SP), the world’s second-biggest palm-oil producer, rose 0.7% to 78 cents. Indofood Agri Resources (IFAR SP), the palm-oil unit of Indonesia’s biggest noodle maker, climbed 1.1% to $2.75. Wilmar International (WIL SP), the world’s biggest palm-oil trader, increased 0.5% to $5.64.
Hyflux (HYF SP), Singapore’s biggest water recycling company, fell 0.9% to $2.28. The company said 286 million new ordinary shares will begin trading today after a bonus issue.
Keppel Corp. (KEP SP), the world’s biggest builder of oil rigs, climbed 0.4% to $10.92. The company said its Keppel Offshore & Marine Ltd. unit won new contracts totalling $240 million to upgrade a floating production storage and offloading vessel, convert a livestock carrier and build a diving support vessel.
Rickmers Maritime Singapore (RMT SP), a shipping trust, rose 1.3% to 39 cents. The company said Chilean carrier Compania Sudamericana de Vapores extended its charter of M.V. Kaethe C. Rickmers for an additional 12 months at a daily net charter rate of US$23,888 ($30,976), compared with the current rate of US$8,288.
Think Environmental Company (TENV SP), the waste management services company, rose 2.9% to 72 cents, its highest level on record. The company agreed to buy a 70% stake in Mornington Offshore Inc. for US$35 million ($45.4 million), giving it control of gold concessions in the Republic of Mali.
