STI falls 1.4% to 3,028.51 as of the 12:30 p.m.

Singapore’s Straits Times Index fell 1.4% to 3,028.51 as of the 12:30 p.m. trading break, heading for its lowest close since Sept. 9. All but one stock in the benchmark index of 30 companies declined.

Shares on the measure trade at an average 13.9 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.

 

Middle East, North Africa exposure: Shares of companies with businesses in the Middle East and North Africa declined as political tensions in the region intensified.

 

Boustead Singapore (BOCS SP), the engineering company that’s helping to build a water infrastructure system in Libya, slumped 5.4% to 96.5 cents. The company said it suspended operations in the country as political tensions mount and evacuated non-Libyan staff from its joint venture project in the African nation.

 

Hyflux (HYF SP), the Singapore company that has desalination projects in Algeria and Libya, tumbled 6.7% to $1.96. JPMorgan Chase & Co. cut its rating to “neutral” from ‘overweight” and lowered its share-price forecast to $1.90 from $2.33, saying the mounting unrest in the African nation will affect the company’s operations in the country.

 

Olam International (OLAM SP), the supplier of agricultural commodities that counts the Middle East and Africa among its major markets, slumped 6.2% to $2.72.

 

CapitaLand (CAPL SP), Southeast Asia’s biggest developer, dropped 1.5% to $3.31. The company said fourth-quarter net income declined 41% to $552.1 million from a year ago.

 

Huan Hsin Holdings (HUAN SP), a maker of electronic components, climbed 11% to 21 cents. The company said it had full-year net income of $16 million, compared with a net loss of $54.8 million.

 

Tiger Airways Holdings (TGR SP), the discount carrier part-owned by Singapore Airlines (SIA SP), slid 3.3% to $1.46. The company said RyanAsia sold 18.6 million shares in the company on Feb. 16. RyanAsia now holds 1.99% of the company, compared with a 5.41% stake before the sale, it said.