Last Friday, the Straits Times Index (SGX: ^STI) had broken a streak of three consecutive losing days by posting a 1% gain to 3,161. Today, the index carried on its winning momentum as it rose by 0.7% to 3,183. Let’s take a look at some of the winners who won even bigger than the STI today.
Wilmar’s (SGX: F34) definitely one of them as its shares increased by 3.5% to $3.24. The agriculture business group’s first quarter earnings release last month saw its quarterly profit increase by 23% year-on-year to US$315.4m on the back of volume growth across its key business segments. In other news, Wilmar announced two weeks ago that it had acquired an interest in Estate Management Services (Private) Limited, whose principal activity involves managing of plantation estates in Sri Lanka.
Outside the index, we have Kingsmen Creatives (SGX: 5MZ), which gained 4.9% to $0.87 on no material news. The company’s main interests lie with the design, manufacture and setting up of installations for museums, theme parks, exhibitions and retail stores among others. Last month, the company announced its first quarter results for 2013 and saw a 7.3% increase in quarterly earnings to S$2.23m. Management sees even better days ahead as they commented on their “confidence to do well in FY2013, barring unforeseen circumstances”.
Starland Holdings (SGX: 5UA) rounds up the list today with a 14.3% jump to $0.08, again on no material news. The company, a developer of residential and commercial properties in China, has had an interesting eight months so far. In 7 September 2012 (barely three months after its IPO on 25 April 2012), its Chief Financial Officer Wee Liang Hiam resigned. Then, Starland’s auditor, Deloitte, resigned on 2 May 2013 after being hired by the property developer since the financial year ended 30 September 2012. In any case, that’s quite an upheaval for the company’s finance and accounting-related departments in the space of less than a year and should warrant attention from shareholders.
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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 owns shares in Kingsmen Creatives.