The Singapore Market for the Week


Singapore’s stock market bellwether, the Straits Times Index (SGX: ^STI), rose by 0.7% during the week to close at 3,294 points.

17 out of the index’s 30 components finished the week in the green, nine ended up in the red, and the rest were flat. SIA Engineering Company (SGX: S59), which announced a joint venture with The Boeing Company (NYSE:BA) this week, was one of the companies which ended the week unchanged (shares of SIA Engineering are at $5.07 currently).

Elsewhere, Fragrance Group (SGX: F31) gained 6.5% to S$0.245 from last Friday’s close. The real estate developer had just acquired some freehold real estate in Perth, Australia, a few days back for A$40 million.

Health and wellness company OSIM International (SGX: O23) announced this week that 87.2% of its convertible bonds have been converted to ordinary shares in the company. Due to that, the number of outstanding shares of the firm had increased to 779.1 million. By way of comparison, the company previously had a weighted average of 729.66 million shares outstanding as of the three months ended 31 March 2014. Osim closed at $2.79, gaining close to 3% for the week.

Moving on to shares that have suffered losses in the week, we have Ezion Holdings (SGX: 5ME), which dropped by 4.7% to $2.01. An analyst from a research house had issued an “underperform” rating for Ezion’s shares during the week; the analyst had concerns, amongst other issues, about how Ezion’s fleet of service rigs are the second oldest in the world with an average of 33 years.

The STI is currently valued at 13.9 times its historical earnings.

Click here now for your FREE subscription to Take Stock Singapore, The Motley Fool’s free investing newsletter. Written by David Kuo, Take Stock Singapore tells you exactly what’s happening in today’s markets, and shows how you can GROW your wealth in the years ahead.  

The Motley Fool’s purpose is to help the world invest, better. Like us on Facebook  to keep up-to-date with our latest news and articles.

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.