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3 Shares that Beat the Market Today

StockMarketBoard Singapore’s stock market took a small step backwards as the Straits Times Index (SGX: ^STI) slipped 0.3% to 3,135 points. Within the index’s 30 constituents, 17 shares had ended up in the red while eight others managed to make some gains.

What were some of the other shares that managed to best the index today? Let’s find out.

Property developer, investor, and manager Frasers Centrepoint Limted (SGX: TQ5) is up big today on no real news. Its shares have gained 9.9% to S$1.67.

The company just got listed on the Mainboard exchange on 9 Jan 2014 after it was spun-off from Fraser & Neave (SGX: F99). In any case, Frasers Centrepoint released its full-year results last Wednesday, which saw annual profits grow 12.3% year-on-year to S$722m on the back of an increase in revenue from its property development business in Singapore.

OKP Holdings (SGX: 5CF) shares moved up by 5.8% to S$0.365. The civil engineering and construction firm announced last Wednesday that it had entered into a joint venture with four other companies, namely Singapore-listed Swee Hong (SGX: QF6), and privately-held Ho Lee Construction, Chye Joo Construction, and Hwa Seng Builder.

The joint-venture, to be named United Singapore Builders, will be equally-owned by all five companies. It has been established to bid for Mass Rapid Transit (MRT) projects and undertake those projects if awarded.

The Ministry of Transport has announced that it would be spending up to S$60b over the next decade to upgrade Singapore’s rail network from a length of 138km in 2008 to 278km. United Singapore Builders, based on OKP’s press release, would be targeting related-projects.

Straco Corporation (SGX: S85) rounds up the trio with its shares up 2.3% to S$0.44. Last Wednesday, the company revealed that it had won the Top 10 ASEAN Enterprises Entering China Award from the China-ASEAN Business Council.

The award-ceremony, held in Beijing, China, also saw Wu Hsioh Kwang, executive chairman of Straco, win an Oustanding ASEAN Entrepreneurs Entering China award.

Wu commented on the awards: “Straco is honoured to be conferred the Top 10 ASEAN Enterprise Entering China Award. As a relative young Group, we are glad to have made a noticeable impact in the tourism and cultural industry.”

According to Straco’s press release, the China-ASEAN Business Council is “one of the five main dialogue cooperation mechanisms between China and ASEAN” and consists of the China Council for the Promotion of International Trade, the ASEAN Chamber of Commerce and Industry, national business leaders, well-known enterprises and experts members of ASEAN.

Straco owns a portfolio of tourism-related assets in China, including an aquarium each in the major Chinese cities of Shanghai and Xiamen.

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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 writer Chong Ser Jing doesn’t own shares in any companies mentioned.