STI rises 0.3% to 3,182.68 at closing

Singapore’s Straits Times Index rose 0.3% to 3,182.68 at the close. Four stocks advanced for each that fell in the benchmark index of 30 companies.

Shares on the measure trade at an average 14.6 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.

Ho Bee Investment (HOBEE SP), a Singapore-based property developer, rose 0.7% to $1.47. The company said first-quarter net income increased 31% to $54.5 million.

 

Koon Holdings (KNH SP), a construction company, increased 1.8% to 28.5 cents. Koon said it won orders valued at $16.3 million for the supply of precast concrete.

 

Mapletree Commercial Trust (MCT SP), the owner of properties including Singapore’s VivoCity shopping mall, closed unchanged at 88 cents on its trading debut. The company, which is partly owned by Temasek Holdings, raised $893.2 million in its initial share sale.

 

Memtech International (MTEC SP), a supplier of rubber and plastic keypads used in mobile phones and automobiles, gained 3.3% to 15.5 cents. The company said first-quarter net income increased to US$2.7 million ($3.32 million) from US$1 million.

 

Neptune Orient Lines (NOL SP): The container shipping company that gets about 55% of revenue from the Americas increased 0.5% to $1.90. A Conference Board report showed confidence among U.S. consumers increased more than forecast in April, signaling the improving labor market is helping Americans weather rising fuel costs.

 

Osim International (OSIM SP), Asia’s biggest maker of massage chairs outside of Japan, gained 0.6% to $1.67. The company said first-quarter net income more than doubled to $20.1 million from $8 million a year earlier. The result prompted DMG & Partners Securities to raise its recommendation on the stock to “buy” from “neutral.”

 

Spice i2i (I2I SP), a provider of Internet-telephone services, jumped 9.1% to 6 cents after raising $150.8 million selling shares to existing shareholders.