Shares on the measure trade at an average 14.4 times estimated earnings, compared with about 15.6 times at the end of 2010, according to data compiled by Bloomberg.The following shares were among the most active in the market.
Singapore shares are likely to rise on Thursday following gains on Wall Street overnight, as stronger commodity prices and firm global markets help to support investor confidence.
Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.75% on Wednesday to 3,170.33 points.
The following companies may have unusual price changes in Singapore trading. Stock symbols are in parentheses, and share prices are from the previous close. Singapore’s Straits Times Index gained 0.8% to 3,170.33.
Commodity suppliers: The Thomson Reuters/Jefferies CRB Index, which tracks prices of 19 commodities from copper to corn, rose 0.1% in New York yesterday, extending its advance for a fifth day. Noble Group (NOBL SP), a Hong Kong-based supplier of commodities increased, 0.9% to $2.23. Olam International (OLAM SP), a Singapore-based supplier of agricultural commodities, climbed 2.1% to $2.89.
DBS Vickers Securities in an Apr 5 research report says: “Ezra’s progression up the value chain is expedited with Aker Marine Contractors’s (AMC) capabilities and track record.
Kim Eng Research in an Apr 4 research report says: “CWT has signalled its intention to venture into commodity trading. Our latest discussions with management indicate that there is massive potential in this business, given the company’s experience in logistics.
OCBC Investment Research in an Apr 6 research report says: “Straits Asia Resources (SAR), being a pureplay thermal coal miner, stands to benefit from coal price inflation. We have raised our FY2011 ASP assumption from US$82.50 per ton to US$90 per ton and lift our FY2011 net profit estimate by 28% to US$150 million amid the favourable operating backdrop.
SIAS Research in an Apr 4 research report says: “Having tasted success in the auto industry, Scintronix is currently further widening its suite of capabilities in plastic parts manufacturing to roll out new products. At the same time, plans are in place to significantly raise capacity in 2012.
CIMB in an Apr 5 research report says: “NOL released their period 2 statistics for the four-week period from 12 February to 11 March 2011. Average rates dropped a further 3.5% sequentially from period 1, probably due to the continued decline in spot Asia-Europe rates, while daily volume dropped 0.8% sequentially due to the Lunar New Year effect.
CIMB in an Apr 5 research report says: “NOL released their period 2 statistics for the four-week period from 12 February to 11 March 2011. Average rates dropped a further 3.5% sequentially from period 1, probably due to the continued decline in spot Asia-Europe rates, while daily volume dropped 0.8% sequentially due to the Lunar New Year effect.
DBS Vickers Securities in an Apr 1 research report says: “A CPO price moderation seen in 2H11and CY12 from supply recovery should benefit downstream processors, as selling prices generally lag lower feedstock costs. We see Mewah as a cheaper alternative to Wilmar and IOI Corp.
DBS Vickers Securities in an Apr 1 research report says: “A CPO price moderation seen in 2H11and CY12 from supply recovery should benefit downstream processors, as selling prices generally lag lower feedstock costs. We see Mewah as a cheaper alternative to Wilmar and IOI Corp.
CIMB in an Apr 6 research report says: “Indofood Agri Resources’ (IFAR) proposal to list PT SIMP and amalgamate IOFPL should be neutral for the group, in our view.
CIMB in an Apr 6 research report says: “Indofood Agri Resources’ (IFAR) proposal to list PT SIMP and amalgamate IOFPL should be neutral for the group, in our view.
Nomura Research in an Apr 4 research report says: “Golden Agri today received membership to the Roundtable of Sustainable Palm Oil (RSPO). This is an important milestone for the group in achieving its plans of producing sustainable Palm Oil (especially given the increasing pressure by consumers globally).
Nomura Research in an Apr 4 research report says: “Golden Agri today received membership to the Roundtable of Sustainable Palm Oil (RSPO). This is an important milestone for the group in achieving its plans of producing sustainable Palm Oil (especially given the increasing pressure by consumers globally).
UOB KayHian in an Apr 1 research report says: “The earthquake in Japan has not affected the supply of plastic resins. According to management, Hi-P is in the midst of negotiating a price reduction with suppliers of plastic resins.
UOB KayHian in an Apr 1 research report says: “The earthquake in Japan has not affected the supply of plastic resins. According to management, Hi-P is in the midst of negotiating a price reduction with suppliers of plastic resins.
AmFraser Research in an Apr 6 research report says: “Viking Offshore & Marine has been transformed to a leading player in the mechanical and electrical and electronics engineering services in the buoyant offshore and marine sector.
Singapore’s Straits Times Index gained 0.8% to 3,170.33 at the close, its highest level since Feb. 8. Seven stocks rose and for each that fell in the benchmark index of 30 companies.
Shares on the measure trade at an average 14.4 times estimated earnings, compared with about 15.6 times at the end of 2010, 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.
Mapletree Commercial Trust is set to raise as much as $924 million, including from cornerstone investors, in an initial public offering (IPO) in Singapore, underscoring a return of confidence to the market.
The IPO of the trust, managed by Singapore state investor Temasek’s (TEM.UL) property arm, was delayed for two weeks, after a massive earthquake and tsunami struck Japan and caused widespread panic-selling in equity markets.
