Singapore’s Straits Times Index gained 1.4% to 2,804.13 as of 12:20 p.m. local time, headed for a 0.7% decline for the week. All but two stocks rose in the index of 30 companies. The following shares were among the most active in the market.
Ezra Holdings (EZRA SP), the offshore support and marine services company, increased 1.1% to 93.5 cents. The company said no decision has been made on a proposed bond sale. Ezra was responding to a media report that the company had “canned its proposed issue of perpetual bonds.”
Hongkong Land Holdings (HKL SP), a commercial properties developer which receives almost 70% of its revenue from Hong Kong, jumped 5.1% to HK$5.15 ($0.82). Hong Kong’s Sun Hung Kai Properties, the world’s biggest developer by market value, yesterday said full-year underlying profit rose 55%. The results should help to rebut the market’s overly bearish property outlook, Nomura Holdings Inc. analyst Paul Louie wrote in a note dated today.
Golden-Agri Resources (GGR SP), a palm-oil producer, advanced 1.5% to 67.5 cents. A unit of the company said Nestle SA will resume buying its palm oil.
PEC (PEC SP), an engineering services provider to oil and gas industries, gained 1.9% to 80 cents. The company said it has won a maintenance and repair services contract, effective for five years.
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