Singapore shares were slightly higher on Thursday, with palm
oil firm Wilmar International Ltd and dental chain
operator Q & M Dental Group Singapore Ltd among the
The Straits Times Index was up 0.2 percent at
3,186.33 points, in line with the rise in MSCI's broadest index
of Asia-Pacific shares outside Japan.
Wilmar shares rose as much as 3.1 percent to S$3.37, the
highest since Aug. 14, making it the top traded stock by value
in Singapore on Thursday.
Malaysian crude palm oil futures were up 1.6
percent on expectation of higher prices partly due to weather
conditions. Indonesia's move to cut export tax to 7.5 percent
for January from 9 percent for December may also benefit Wilmar.
Q & M shares jumped as much as 15 percent to S$0.35, the
highest in around two months. More than 5 million shares were
traded, 36 times the average full-day volume over the past 30
Q & M launched a S$22.65 million ($18.5 million) takeover
bid for Singapore Medical Group Ltd to expand into
specialist medical practice. Q & M is offering S$0.1323 for each
share of SMG, which operates 15 medical clinics in Singapore.
Shares of Rowsley Ltd and Informatics Education
Ltd fell after a run-up in the stock prices in
previous trading sessions. Both stocks are linked to Singapore
billionaire Peter Lim.
1253 (0453 GMT)