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Roundup: Singapore stocks end up 0.66 pct

Xinhua, June 11, 2015 Adjust font size:

Singapore shares closed 0.66 percent higher on Thursday, buoyed by gains in U.S. stock markets overnight.

U.S. stocks rose on Wednesday amid reports suggesting Greece and its creditors were inching closer to a bailout compromise.

Singapore's benchmark Straits Times Index rose 21.90 points to 3,347.67 points. Trading volume was 1.5 billion shares worth 1.31 billion Singapore dollars. Advancers outnumbered decliners 254 to 182, while 524 stocks did not move.

Among top actives, iFAST Corporation rose 3.5 percent to 1.48 Singapore dollars. It had entered into an agreement to acquire the entire share capital of Winfield Securities Limited for approximately 14.7 million Hong Kong dollars, to be financed through proceeds from initial public offering. The proposed acquisition is subject to approval from the Securities and Futures Commission of Hong Kong.

Winfield Securities is principally engaged in securities trading and brokerage in Hong Kong. It is licensed to carry Type 1 (Dealing in Securities) regulated activity under the Securities and Futures Ordinance and is a Stock Exchange of Hong Kong Limited participant and Hong Kong Securities Clearing Company (HKSCC) participant. The proposed acquisition will allow iFAST to conduct securities brokerage services in Hong Kong and expand the range of investment products available on its investment platform.

Starburst Holdings rose 1 percent to 49 Singapore cents. It has received letters of intent (LOI) with a total contract value of approximately 16.1 million Singapore dollars for firearm shooting range projects in the Middle East. Under the LOI, Starburst will design, supply and install ballistic protection works for firearm shooting training facilities in the Middle East. Work on these projects is scheduled to commence in the third quarter of 2015 with completion expected by December 2016.

Among top gainers, Jardine Strategic rose 1.2 percent to 31.86 U.S. dollars, while Singapore Airlines Limited became one of the top losers by falling 0.8 percent to 10.52 Singapore dollars. (1 U. S. dollar equals to 7.752 Hong Kong dollars and 1.35 Singapore dollars) Endi