3 Shares That Beat the Market Today


Although we don’t believe in timing the market or panicking over market movements, we do like to keep an eye on changes — just in case they’re material to our investing thesis.

The Straits Times Index (SGX: ^STI) has ended the week on a flat note by moving down 0.3% to 3,259 points today. Within the index’s 30 constituents, 19 shares had suffered losses while five others made gains.

Let’s take a look at some market beaters outside the index.

KS Energy (SGX: 578) has spiked by 11.6% to S$0.48. The oil & gas outfit had just announced yesterday the sale of all the rights and obligations under the construction contract for a jack-up rig.

The sale price is tagged at US$84.88 million (around S$106.1 million) and is interestingly US$45.24 million higher than the accounting book value for the rig. With revenue of only US$175 million in the last 12 months, this recently-announced sale looks big for the company in the grand scheme of things.

Property developer and construction outfit Sim Lian Group (SGX: S05) had climbed by 2.4% to S$0.87. The company had revealed last week that it had been awarded an S$87.8 million contract by the Housing and Development Board (HDB) to construct a residential development in the Sengkang neighbourhood in Singapore.

The contract’s “not expected to have a material effect” on the company’s earnings for the financial year ending 30 June 2014. But, with annual revenues running at an average of S$750 million in its last three completed financial years, the contract is not an insignificant addition to its business activities.

Broadway Industrial Group (SGX: B69) rounds up the trio with its shares up 3.9% to S$0.27. The hard-disk drive component manufacturer had just appointed David Tan Thay Wooi as its new chief financial officer last Friday. Tan’s replacing Wendy Soh, who steps down from her post to “pursue other opportunities” after being hired by Broadway Industrial as CFO in August 2008.

The company’s new CFO had been in that position for at least three different companies starting from 2007.

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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.