The Singapore Market this Week


The Straits Times Index (SGX: ^STI) finished flat for the week, closing at 3,272 points.

Out of the index’s 30 component shares, 10 managed to eke out a gain, while 16 ended with losses. Just like the index, four shares finished unchanged.

The index constituent with the biggest gain during the week is United Overseas Bank (SGX: U11); it increased by 3.5% to close at $23.38. During the week, the bank saw a former minister, Mrs Lim Hwee Hua, being appointed as an independent non-executive director and member of the bank’s Board Risk Management Committee.

On the other hand, the world’s second largest palm oil plantation owner Golden Agri-Resources (SGX: E5H) was the biggest loser in the index. It dropped 2.7% to finish the week at $0.55. Louis Dreyfus Amateurs, a maritime transportation outfit, had inked a partnership with Golden Agri Resources this week to further improve the latter’s capacity and efficiency in the domestic-shipping of its palm oil products.

In the mid-cap arena, Ezra Holdings (SGX: 5DN) had surged 13.3% this week to close at S$1.235 on Friday. Ezra’s Subsea Services division, EMAS AMC, passed a milestone in its operational history when it installed its 50th platform for Chevron in the Gulf of Thailand. In addition, EMAS AMC has also successfully laid 376km of subsea pipes for the American multinational energy giant.

The STI is currently trading at a historical PE ratio of 13.8.

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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.