STI climbs 1.1% to 3,172.08 at closing

Singapore’s Straits Times Index climbed 1.1% to 3,172.08 at the close. Eight stocks gained for each that fell in the benchmark index of 30 companies.

Shares on the measure trade at an average 14.1 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.

Transportation companies: Oil traded near a two-week low in New York as U.S. stockpiles increased. Neptune Orient Lines (NOL SP), Southeast Asia’s biggest container carrier, increased 3.1% to $2.01. Singapore Airlines (SIA SP), the world’s second-largest carrier by market value, advanced 4.9% to $14.10.

Cosco Corp. Singapore (COS SP), a China-based shipbuilder, increased 3.6% to $2.32. The company said a unit won a contract, valued at US$66 million ($82.9 million), to build a drilling rig for Norway’s Seadrill.

 

Hyflux (HYF SP), Singapore’s biggest public traded water treatment company, rose 1.4% to $2.19. The company said it plans to sell up to $200 million  of 6% perpetual Class A preference shares, callable at the option of the company in 2018.

 

Keppel Corp. (KEP SP), the world’s biggest builder of oil platforms, gained 0.8% to $12.60. The company said its offshore and marine business has won orders worth $240 million from international customers.

 

Lian Beng Group (LBG SP), a construction company, climbed 2.8% to 37 cents. The company said net profit more than doubled to $36.6 million in the nine months ended February.