The Singapore Market This Week

For the week that ended 10th January 2014, the Straits Times Index (SGX: ^STI) closed at 3143.9 points, decreasing 0.4% from the previous week.

Out of the 30 component stocks, 11 finished in the negative, 15 in the positive and four were unchanged. The biggest gainer was Hongkong Land Holdings Limited (SGX: H78) which gained 5.9% to close at US$6.25. On the other hand, Golden Agri-Resources Limited (SGX: E5H) slid 2.8%, closing at S$0.53.

Outside the blue-chips universe, Otto Marine Limited (SGX: G4F) did a “drop-it-like-it’s-hot” fall of 12.5%, finishing the week at $0.084. It announced last week that its 90% owned subsidiary, Go Marine Group Pty Ltd, had sold seven vessels to RSOV Marine Pte Ltd for US$10 million.

First Real Estate Investment Trust (SGX: AW9U) gained close to 2% to close at S$1.065. The REIT will introduce a Distribution Reinvestment Plan that allows its unitholders to receive distributions in the form of new units in First REIT instead of cash.

Construction outfit, OKP Holdings (SGX: 5CF) finished the week up 1.5% to S$0.345. The company had announced that it is going to work with Swee Hong (SGX: QF6) and three other privately-held companies – Ho Lee Construction Pte Ltd, Chye Joo Construction Pte Ltd and Hwa Seng Builder Pte Ltd – to tender for future Mass Rapid Transit (MRT) projects and undertake them  if awarded.. Swee Hong also did well, closing at S$0.115, for a 4.5% weekly gain.

This week’s Singapore “Flyer”, AusGroup (SGX: 5GJ) ballooned slightly more than 50% from last Friday till yesterday’s close, ending up at S$0.285. On the other hand, Mr. “Falling Knife” CCM Group (Catalist: 5QZ) slumped 35% to close at S$0.039.

The STI is trading at a historical PE ratio of 13.4.

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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 Sudhan P doesn’t own shares in any companies mentioned.