Singapore shares traded sideways, against a backdrop of mixed performance from other Asian bourses. Meanwhile, mainland Chinese markets extended declines as investors wind down margin trades.At 10:10am (0210 GMT), the Straits Times Index inched up 0.03% to 3,334.09. Market breadth was positive, with 136 gainers outpacing 107 decliners.
Global Logistic Properties, Singapore Telecommunications, United Overseas Bank, Noble Group, and Oversea-Chinese Banking Corporation were among the most active stocks in the market.
Among top gainers were Great Eastern Holdings, Raffles Medical Group, and Petra Foods, while Jardine Cycle & Carriage, Jardine Matheson Holdings, and China Fibretech led decliners.
EMAS Offshore leapt 5.9% to 35.5 cents. The subsea services business division of Ezra Holdings reported that net profit for 3Q ended May 31, 2015 came in at US$5.2 million, up from US$0.2 million a year ago, buoyed by robust contributions from the offshore production services division. Revenue however fell 15% to US$59.2 million ($79.9 million) from the same quarter last year. EMAS Offshore also announced that it has secured three new awards for charters with oil majors in West Africa and Thailand valued at more than US$24 million, including options.
First Ship Lease Trust climbed 2.9% to 17.9 cents. The manager of the business trust which provides lease financing solutions to the maritime industry announced that it has clinched new time charter deals worth up to US$61 million ($82.4 million) for three tankers.
Triyards Holdings rose 2.5% to 41 cents. The marine services business division of Ezra Holdings reported a 14% fall in earnings for 3QFY2015 ended May 31, 2015 to US$5.4 million ($7.3 million) from the same period last year. Meanwhile, order wins for two liftboats worth US$175 million extended its orderbook visibility into FY2017 ending August 31, 2017.
SBI Offshore traded flat at 26 cents after a trading halt on its shares was lifted. The company, which provides engineering, fabrication and equipment solutions to the offshore and marine industry, announced that it has formed a 51:49 joint-venture with Germany-based Grass Group to build and operate solar farms and systems in a major diversification into renewable energy.
Among decliners, Ezion Holdings fell 2% to $1.005. The offshore marine logistics and support services provider is planning to subscribe to 30% of the enlarged share capital of oil and gas service provider Rotating Offshore Solutions (ROS) for $18 million.
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