Although April Fools is usually associated with humorous pranks and light-hearted fun, our local stock market found little to smile about today. The Straits Times Index (SGX: ^STI) barely budged with a 0.02% decrease to 3,308, but that did not mean that there were no winners today.
Jardine Strategic (SGX: J37) was one of the gainers as it climbed 0.5% to close at $39.79. The Asian conglomerate counts retailer Dairy Farm International (SGX: D01) and hotelier Mandarin Oriental (SGX: M04) amongst its holdings. Jardine Strategic has been one of the better performing blue chips to date with a 12% increase since the start of 2013. It is interesting to note that even though the company has one of the lowest dividend yields, there have been 10 consecutive years of dividend increases for its shareholders.
Keppel Corp (SGX: BN4) was another winner today in a lacklustre trading day for the local market with a 1% increase to $11.34. The company’s shareholders have been treated to some good news these past two months as US$1.12b and S$200m worth of new contracts have been secured since February. The new contracts should improve the company’s order book, which stood at S$12.8b in 2012 – the highest in the past 10 years. Shareholders should be able to find out more when Keppel releases its first quarter results for 2013 on 18 April 2013.
Breadtalk (SGX: 5DA) shot up 6% to $1.00. The company, which operates food & beverage outlets, has attracted more attention from Thai hospitality, leisure and retail company, Minor International. Two weeks ago, Minor International increased its stake in Breadtalk from 6% to almost 9%, through a wholly-owned subsidiary Primacy Investments. There are similarities between the two companies as Minor International runs over 1,300 restaurants worldwide. Investors seemed excited by the news as the shares of Breadtalk have risen by almost 11% since the announcement.
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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore Contributor Chong Ser Jing doesn’t own shares in any companies mentioned.