Olam International Ltd Leads the Market Higher This Week


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) ended the week at 3,315 points, gaining 0.8% from the previous week’s close of 3,289 points.

Of the 30 components of the STI, the majority – 18 of them – clocked gains for the week while 11 were in the red. Property developer and newspaper publisher Singapore Press Holdings Limited (SGX: T39) was the only one with an unchanged share price of S$4.15.

Olam International Ltd (SGX: O32) had gained the most amongst the STI’s constituents; the share had moved up by 5% to S$2.54. The commodities trader will be releasing its full-year results on 29 August 2014.

Despite producing a sterling set of results with record quarterly revenue and bigger dividends, land transport giant ComfortDelGro Corporation Limited (SGX: C52) ended up the biggest loser in the index for the week – it slumped 3% to S$2.52. ComfortDelGro’s revenue grew 11.9% year-on-year to S$1.1 billion for the quarter, breaching the S$1 billion mark for the first time. An interim dividend of 3.75 Singapore cents per share was also declared, which is a 25% increase from the dividend of 3 Singapore cents per share dished out last year.

Zooming out of the STI universe, Cosco Corporation (Singapore) Limited (SGX: F83) was one of the largest gainers, having increased 5.2% for the week to S$0.715. Earlier in the week, the shipping outfit announced that it had secured contracts worth more than US$500 million in total from an Asian buyer and Maersk Supply Service AS.

While shipping was hot, coffee was cold – instant coffee maker Super Group Ltd. (SGX: S10) had plunged 7% to finish the week at S$1.385 after a dismal second quarter. Turnover dipped 5% while net profit fell like a brick – a drop of some 59% to be exact – to S$15 million.

The STI is currently valued at a trailing PE ratio of 13.9 and has a market capitalisation of S$540.3 billion.

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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 owns shares in Super Group Ltd.