Singapore’s Straits Times Index lost 0.7% to 2,770.64 as of 12:25 p.m. local time. Five stocks fell for each two that rose in the index of 30 companies. The following shares were among the most active in the market.
Palm-oil producers: Crude palm-oil futures for November delivery dropped as much as 1.4% in Kuala Lumpur today, heading for the first decline in three days.
Golden Agri-Resources (GGR SP), the world’s second- biggest palm-oil producer by sales, fell 1.5% to 67.5 cents. Wilmar International (WIL SP), the world’s largest palm-oil processor, slipped 0.8% to $5.20. First Resources (FR SP), an Indonesian plantation company, dropped 2.3% to $1.305.
Nam Cheong (NCL SP), a Malaysian builder of offshore support vessels, added 0.8% to 13.3 cents. The company said it entered a joint venture pact with PT Bahtera Niagra Internasional, Carimin and CTNS Marine to acquire Intact Fleet for about 88 million ringgit ($35.4 million).
Singapore Technologies Engineering (STE SP), Asia’s biggest aircraft maintenance company, dropped 1.4% to $2.89. The company said Raphael Chin has been named as acting chief financial officer of its U.S. unit Vision Technologies Systems Inc. Chief Financial Officer Patrick Lee Swee Ching has taken a leave of absence pending an investigation by the Corrupt Practices Investigation Bureau and an internal inquiry, the company said.
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