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2 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.

Today would be a forgettable day for Singapore’s blue chips as all 30 of the Straits Times Index’s (SGX: ^STI) constituents recorded losses. This resulted in the market benchmark receding by 1.2% to 3,273 points.

With the blue chips all losing ground, let’s step outside the STI to take a closer look at some market beaters.

Ezion (SGX: 5ME) has closed the day flat at S$1.83. The company, which provides support services to the offshore oil and gas industry, announced that it has inked a new US$76 million contract to provide a service rig for up to 3 years (including extension options) to help support the oil & gas activities of a Southeast Asian-based oil company.

The rig is “expected to be deployed and working in the Southeast Asian waters by end 2016.”

With Ezion’s revenue coming in at US$347 million over the last 12 months, this new contract would be a considerable source of future revenue for the company.

Public land transport operator SMRT Corporation Ltd. (SGX: S53) has inched up by 0.3% to S$1.57. Two weeks ago on 5 September 2014, the company revealed that it has set-up a joint-venture with mobile application developer Hailo Network Holdings Limited. The joint-venture would create a taxi booking app which “offers passengers fuss-free cashless payment.” The app, which would be launched next month, can also allow users to “book and track their taxi’s arrival through a real-time display.”

Third party taxi booking apps such as GrabTaxi have already made a big splash in Singapore’s transport scene. For instance, my colleague Chin Hui Leong had recently pointed out that GrabTaxi “already had the second largest network of cabbies, behind Singapore’s land transport giant ComfortDelGro Corporation Limited (SGX: C52).” The fast-growing GrabTaxi and its ilk can pose a threat to companies with smaller taxi operations. With its latest joint-venture, it seems that SMRT Corporation’s not willing to be a sitting-duck when it comes to the taxi-booking wars.

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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.