STI slids 0.2% to 3,179.86 at closing

Singapore’s Straits Times Index slid 0.2% to 3,179.86 at the close, extending the week’s decline to 0.5%. For the month, the index advanced 2.4%.

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.

Palm-oil producers: Crude palm-oil futures for July delivery dropped as much as 1.7% in Kuala Lumpur today.

 

First Resources (FR SP), an Indonesian palm-oil producer, decreased 1.4% to $1.38. Indofood Agri Resources (IFAR SP), the palm-oil unit of Indonesia’s biggest noodle maker, lost 1.9% to $2.08. Wilmar International (WIL SP), the world’s biggest palm-oil trader, sank 1.5% to $5.27.

 

Allgreen Properties (AG SP), a Singapore-based real estate company controlled by Malaysian billionaire Robert Kuok, added 0.9% to $1.18. The company said first-quarter net income increased to $84.5 million from $34.9 million a year ago.

 

Chemoil Energy (CHEME SP), a supplier of marine fuels, climbed 2.9% to 35.5 U.S. cents. The company said it expects first-quarter net income will surpass US$20 million ($24.6 million) on increased volumes and improved margins.

Hi-P International (HIP SP), the electronics manufacturing services provider whose clients include BlackBerry-maker Research in Motion, dropped 1.6% to S$1.22 after Canada-based RIM cut its profit forecast due to slower-than-expected demand for its smartphones.

 

Oceanus Group (OCNUS SP) surged 15% to 27.5 cents in morning trading before it was suspended from trading in the afternoon. Kohlberg Kravis Roberts & Co. is in talks to buy the abalone farmer in a deal that may be worth US$500 million, Reuters reported, citing three people with knowledge of the matter.