Singapore’s Straits Times Index gained 0.4% to 3,157.79 as of the 12:30 p.m. trading break. Four stocks advanced for each that fell in the benchmark equity index of 30 companies.
Shares on the measure trade at an average 15.4 times estimated earnings, compared with about 17.4 times at the beginning of the year, according to data compiled by Bloomberg.
The following shares were among the most active in the market. Stock symbols are in parentheses after the company name.
Palm-oil producers: Crude palm-oil futures for March delivery climbed for a fourth day in Kuala Lumpur today.
Global Palm Resources Holdings (GPR SP) jumped 2.9% to 35 cents. Golden Agri-Resources (GGR SP), the world’s second-biggest palm-oil producer, increased 0.7% to 76.5 cents. First Resources (FR SP), an Indonesian palm plantation company, advanced 1.4% to $1.49.
Financial One Corp. (FIN SP), the provider of financial services, surged 29% to 54 cents. The company said Executive Chairman Andre John-Lee Koo is offering to buy out minority shareholders at 48.5 cents a share as part of a proposed voluntary delisting.
Hyflux (HYF SP), Singapore’s biggest water recycling company, increased 0.9% to $2.32. The company said it appointed Cho Wee Peng as chief financial officer, replacing Sam Ong, who will remain as deputy chief executive officer and focus on developing the group’s business in the Middle East and Africa.
United Industrial Corp. (UIC SP), the owner of office buildings and shopping malls in Singapore, advanced 1.7% to $2.45. Developer UOL Group (UOL SP) said it agreed to buy a 9.7% stake in United Industrial Corp. for $320.5 million from United Overseas Bank (UOB SP), raising its stake to 42% from 32.3%. UOL Group fell 0.4% to $4.60, and UOB climbed 0.3% to $17.94.
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