Singapore’s stock market started the day strongly as the Straits Times Index (SGX: ^STI) climbed briefly to an intra-day 52-week high of 3,448 in the morning before gradually slipping to end the day with a 0.4% drop to 3,431. More than two-thirds of the STI components were mired in red, but let’s look at some big winners in the market today.
Beer brewer Thai Beverage (SGX: Y92) was the largest winner among the STI components today as its shares rose 4% to $0.66. Last Friday, Fraser and Neave announced that it would be returning S$3.28 per share to its shareholders amounting to a total of S$4.73b. Thai Bev, which owns 29% of F&N, would receive around S$1.37b from its subsidiary. F&N, which is in the food & beverage and property development industry, is actually controlled by Thai billionaire Charoen Sirivadhanabhakdi through his ownership of Thai Bev and TCC Assets (the latter owns 61% of F&N).
Elsewhere in the F&B industry, Super Group’s (SGX: S10) shares climbed 6% to $4.85 after posting a 24% increase in first quarter profit to S$22.1m from S$17.7m a year ago. The company’s improved sales performance in countries like Taiwan and China helped push its results forward. Shares of Super Group rose as much as 8% to a 52-week high of $4.92 after the release of its first quarter results as investors cheered the fast-growing company, whose earnings grew by 28% last year.
Hotelier Pan Pacific Group (SGX: H49) rounds up our trio today with an 8% jump to $2.53 on the back of a possible de-listing from the stock exchange. On Friday, property developer UOL (SGX: U14) announced that it wants to take Pan Pacific private. UOL owns 81.6% of the hotelier and has offered a price of $2.55 per share to acquire the rest of the company.
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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.