Three Shares That Beat the Market Today

StockMarketBoard It was a relatively mundane day for the Straits Times Index’s (SGX: ^STI) 30 components as the index inched up by a single point to 3,237 points. But, plenty of action took place outside the index. Let’s take a look at some of those shares that managed to beat the market today.

We can start with Manhattan Resources (SGX: L02) 14.5% gain to $0.44 on no notable news. The company, which provides management services to other companies involved with shipping, property development and lumber products, was actually routinely-queried by Singapore Exchange on its sudden price jump today. Turns out, Manhattan Resources was also “not aware of any other possible explanation for the trading”.

In any case, Manhattan Resources’ shares have tumbled by 34.8% from $0.675 over the past 12 months on the back of cumulative losses of S$22.1m for 2011 and 2012. The company’s results for the first quarter of 2013, released on May, saw it continuing its recent history of seeing red by posting a quarterly loss of S$246,000.

Energy exploration and production company Mirach Energy’s (SGX: C68) next in line, with its shares climbing 7.8% to $0.415. Last Wednesday, the company announced that one of its oil-production wells, located in the Kampung Minyak Oil Field in South Sumatra, Indonesia, is now ready for production. The well, named KM-606, was initially drilled in December 2012 but operations were suspended due to bad weather conditions.

One of Mirach’s other production wells in the same oil field, KM-601, has already produced a total of 7000 barrels of oil as of June 2013. The company’s planning to drill another four wells in the oil field, starting from the first week of August.

Coming from within the STI, Global Logistic Properties (SGX: MC0) rounds up the trio as the last market-beater, with its shares up by 2.5% to $2.91. The logistics-facility provider has been busy lately. Last Monday, the company announced that it will be developing an 110,000 square metre facility, called GLP Naruohama, in Greater Osaka, Japan, starting from May 2014 at an estimated cost of US$160m.

Then, on last Wednesday, GLP announced that it will develop BMW Brilliance Automotive’s largest distribution centre in China. The total land area for the facility will be 75,000 square metres, with the development done in phases. The first phase will cover 55,000 square metres and work will begin this year.

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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.