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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.

Of the 30 blue chips which make up the Straits Times Index (SGX: ^STI), only 12 had managed to clock gains today. But, that was enough to push the benchmark index 0.32% higher to 3,234 points.

Let’s take a closer look at two market beaters, one of which is a constituent of the index.

Steel maker Yongnam Holdings Limited (SGX: Y02) has spiked by 20% to S$0.24 after announcing yesterday evening that a consortium it belongs to has managed to win a US$1.4 billion (around S$1.78 billion) contract to build an airport in Yangon, Myanmar.

The consortium, which comprises Yongnam, Changi Airport Planners and Engineers Pte Ltd, and JGC Corporation, would be building the Hanthawaddy International Airport. In addition, the consortium would also be in charge of operating and maintaining the airport’s facilities over a 30-year concession period. Currently, details and terms for the project are being finalised and Yongnam would update the investing public as and when necessary.

With Yongnam’s revenue of ‘just’ S$298 million over the last 12 months, this contract win is a big deal for the company. It’s no wonder the market likes what it sees.

Genting Singapore PLC (SGX: G13), which is part of the Straits Times Index, is up 1.93% to S$1.05. The owner and operator of Resorts World Sentosa would be releasing its third quarter earnings on 11 November 2014.

For the first half of 2014, Genting Singapore had rather healthy numbers. Revenue was up 15% year-on-year while its bottom-line actually increased by 24%. But, on a quarterly basis, the company’s second quarter figures weren’t anything to rave about as its profit dropped by 27% year-on-year to S$102 million despite seeing a 6% uptick in revenue.

Besides keeping an eye on any improvement in the company’s bottom-line in its upcoming earnings release, investors might also want to watch out for details, if any, on the progress the company has made on its proposed plans to build an integrated resort in Jeju Island, South Korea.

Genting Singapore had first revealed the aforementioned plans this February. But, discussions with local authorities hit a snag as Jeju Island had a change in political leadership. In Genting Singapore’s second quarter earnings release, the company commented that it is currently in discussions with the authorities to finalise development plans and secure the necessary approvals.

Given the scope of the project (costs were estimated to be around US$2.2 billion back in February), it’s a very important part of Genting Singapore’s growth plans and that’s why investors might want to pay attention to its progress.

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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 does not own shares in any companies mentioned.