STI slips 0.7% to 3,169.96 at 9:20 a.m.

Singapore’s Straits Times Index slipped 0.7% to 3,169.96 as of 9:20 a.m. local time. All but four stocks in the gauge of 30 companies declined.

Shares on the measure trade at an average 14.7 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. 

Biosensors International Group (BIG SP), a maker of drug-coated stents used to treat blocked arteries, gained 1.5% to $1.355. The company said first-quarter net income increased to US$22.6 million ($27.2 million) from US$3.2 million a year earlier.

 

DBS Group Holdings (DBS SP), Southeast Asia’s biggest lender, slipped 1.2% to $15.14. The company said second- quarter net income was $735 million, compared with a net loss of $300 million a year earlier. The bank was expected to post net income of $750 million, according to the average of six analyst estimates compiled by Bloomberg.

 

Mapletree Industrial Trust (MINT SP), the industrial landlord partly owned by Temasek Holdings, rose 0.4% to $1.155. The company said it sold 48.5 million placement shares at $1.09 each and 117 million preference shares at $1.06 each, raising about $177 million.

 

Otto Marine (OTML SP), a shipbuilder, dropped 3.4% to 19.8 cents. The company said Norway’s Mosvold Supply has canceled a contract and demanded the refund of payments amounting to $29.4 million. Otto Marine is seeking advice from lawyers on its next course of action.

Singapore Airlines (SIA SP), the world’s second- biggest carrier by market value, slid 0.3% to $14.72. The company will release its first-quarter results today.

 

SMRT Corp. (MRT SP), Singapore’s biggest commuter train operator, dropped 0.8% to $1.865. The company said first-quarter net income fell 8.9% from a year earlier to $34.8 million.