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Three Shares That Beat the Market Today

The Straits Times Index (SGX: ^STI) in Singapore dipped by 0.2% to 3,213 points as 14 of its 30 components had dragged it down by ending the day with losses. There were only eight shares that finished the trading session with gains, with the biggest winner being the conglomerate Jardine Cycle & Carriage (SGX: C07) with its shares up 1.2% to S$47.75.

While the blue chips did not fare too well generally, there were still shares outside the index that managed to put on some gains. Let’s take a look at some of them.

Swissco Holdings (SGX: 5FD) moved up 2.9% to S$0.36. The company, a marine service provider for the offshore oil & gas industry, revealed on Monday that it would be buying Scott and English Energy Pte. Ltd. for S$285 million.

Scott and English’s main bread and butter revolves around the ownership and leasing of mobile offshore drilling units and service rigs in support of oil & gas exploration and production activities by other companies.

Swissco sees the acquisition as being “another step closer to [its] goal of expanding upstream into the offshore rig chartering business”, which can “help diversify its earnings base” by providing more recurring income. In addition, Swissco also sees cost synergies that can arise from the deal.

Infrastructure engineering and construction outfit Koon Holdings (SGX: 5DL) gained 2.5% to S$0.12. The company had just released its audited financial figures for 2013 last week. Despite revenue growing 17% to S$220 million during the year, Koon’s bottom-line worsened as its S$46,000 in profits in 2012 had worsened into S$10.2 million worth of losses.

The aptly-named telecommunication pipe and tower manufacturer 8Telecom International Holdings (SGX: E25) rounds up the trio with its shares ending 2.7% higher at S$0.116. The company had revealed yesterday that it has been granted an 8-year term loan of up to RMB190 million from the Agricultural Bank of China. 8Telecom would be utilising the loans for the development of a commercial property project in Wuchang, Zhejiang province in China.

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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.