The Straits Times Index (SGX: ^STI) has started the week on a sour note, dropping 0.6% to 3,129 points. Within the index’s 30 components, we have 19 shares ending the day in the red while only four had made some gains.
Let’s take a look at some shares that managed to beat the index.
Singapore Technologies Engineering (SGX: S63) is up 0.8% to S$3.88. The aptly-named engineering firm had announced last week that its electronics arm had secured contracts worth a total of S$593m in the fourth quarter of 2013 for “intelligent transportation, satellite communications (satcom) and communications, and advanced electronics and Information Communications Technologies solutions.”
The president of the electronics arm of ST Engineering commented that “2013 has been a good year for ST Electronics [electronics arm of the company] in terms of orders received.”
In addition to the contract wins, the company also revealed that it had won a number of awards for its technological innovations. These awards include the VSAT Technology Innovation Of The Year 2013 for its iDirect solutions, and the Institution of Engineers Singapore’s Prestigious Engineering Achievement Award for its Agilfence Perimeter Intrusion Detection System (PIDS), and Smart Utilities Suite and Incident Management System solutions.
Advanced Holdings (SGX: 5IA) is up next with a 4% gain to S$0.26. The company made it known last Friday that it had entered into a Memorandum of Understanding with BD Cranetech Pte Ltd for the purchase of the latter’s wholly-owned subsidiary BD Crane & Engineering Pte Ltd.
BD Cranetech is owned by three individuals, Lim Pang Hern, Ng Kok Teck, and See Mei Li. Advanced Holdings is of the view that the acquisition would “provide an opportunity for the Company to expand its existing engineering and design capabilities and has the potential for growth”.
Currently, Advanced Holdings is engaged in the design and supply of process equipment for customers in industries such as chemical, petro-chemical, oil & gas, power generation, and micro-electronics.
Rounding up the trio is Sarin Technologies (SGX: U77) which gained 5% to S$2.10. Last Wednesday, the company announced that it would be launching the commercial service of its GalaxyTM Ultra system in the Surat and Tel-Aviv service centres in India and Israel respectively.
The new GalaxyTM Ultra system would start to be sold and delivered to customers in the later part of the year after it commences service at additional service centres, depending on customer demand.
According to Sarin’s press release, the new system “offers significant advantages to manufacturers as it provides inclusion scanning of the rough diamond at microscope level magnification, in addition to the normal scanning executed by the standard GalaxyTM systems.”
This allows users to “inspect seemingly clean areas of rough diamonds with extra-high accuracy and determine with a higher level of confidence whether they can achieve an Internally Flawless (IF) Clarity grade. [The GalaxyTM Ultra system’s processes] are fully automatic, even at this high level of resolution, not like alternative solutions, where one needs to manually and tediously browse the stone using a microscope, micron layer by micron layer.”
Sarin, which is in the business of manufacturing and designing planning-technology systems for diamond and precious stone makers, is “proud of being able to offer the market this newest member of the GalaxyTM family of automated inclusion scanning systems”, according to the company’s chief executive Uzi Levami.
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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.