The Singapore Market this Week: Wilmar International Limited Leads the Pack Higher

The Straits Times Index (SGX: ^STI) gained 38 points, or 1.3%, to 3,068 points this week.

Of the 30 index components, 22 were in the green, six were in the red while two – Singapore Press Holdings Limited (SGX: T39) and Thai Beverage Public Company Limited (SGX: Y92) – ended the week unchanged.

The biggest winner in the STI was Wilmar International Limited (SGX: F34), as its share price grew 7.8% to S$3.18. The firm, which prides itself as “Asia’s leading agribusiness group”, will be announcing its financial results for the third quarter  on 11 November 2015, after market closes.

For the second quarter, sales dropped 11.7% year-on-year to US$9.28 billion but net earnings put on 18.2% to US$201.8 million. Earnings per share went up around from US$0.027 a year ago to US$0.032 in the three months to 30 June 2015. To know more about the second-quarter’s earnings, click here.

Apart from Wilmar, Singapore Exchange Limited (SGX: S68), which is our stock market operator and regulator, also saw gains for the week. It put on 1.6% to S$7.66 after announcing positive first-quarter results.

For the latest quarter, revenue went up 30% year-on-year to S$220 million, while net earnings climbed 28% to S$99 million, mostly due to strong performance in its derivatives business. Shareholders will also be glad to note that the dividend will go up from 4.0 Singapore cents a year ago to 5.0 Singapore cents for the reporting quarter.

At the other extreme, SembCorp Marine Ltd (SGX: S51) lost the most ground in the index. The marine and offshore engineering giant went down around 7% to S$2.46 for the week, after it announced poor quarterly results during the week.

As my Foolish colleague, Chin, mentioned, the firm’s overall revenue for the quarter was down 34% year-on-year to $1.13 billion. This led to net profit dropping like a brick, which tumbled 77.4% to $31.5 million. There are no prizes for guessing the reason for the fall – headwinds in the oil and gas industry has continued to plague the firm.

Meanwhile, Keppel Corporation Limited (SGX: BN4), also saw losses in its share price for the week. Its shares declined 1.4% to S$7.25. It, too, announced disappointing third-quarter earnings this week, where top-line revenues fell 23.4% year-on-year to $2.4 billion. Earnings sank 12.4% year-on-year to $363 million.

The SPDR STI ETF (SGX:ES3), which is a proxy for the Straits Times Index, is now trading at 12.4 times trailing earnings and yields 3.1%.

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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.