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Roundup: Singapore stocks end up 0.5 pct

Xinhua, December 1, 2015 Adjust font size:

Singapore shares closed 0.5 percent higher on Tuesday.

Singapore's benchmark Straits Times Index rose 14.32 points to 2,870.26 points. Trading volume was 994 million shares worth 1.02 billion Singapore dollars. Advancers outnumbered decliners 219 to 150, while 564 stocks did not move.

IPS Securex Holdings closed flat at 31 Singapore cents. The provider of security products and integrated security solutions has been appointed a subcontractor for the deployment and maintenance of Bio-Nexus' Care-Nexus software system at the Visy Group's Chicago site as well as at 15 additional sites of the Visy Group. The Care-Nexus software system uses voice recognition algorithms and synchronizing mechanisms to manage system processes in real-time. Using the system, Visy Group will be able to enjoy time and cost savings by optimizing its ongoing and periodic processes for the maintenance of its equipment.

Midas Holdings fell 1.6 percent to 30 Singapore cents. It has entered into an agreement to buy Hong Kong-based Huicheng Capital for 264 million Singapore dollars. Huicheng Capital owns Dalian Huicheng, a company based in Dalian, China, which specializes in aluminum products. Midas will be buying the company from seven individuals who currently hold stakes in it.

The acquisition enables Midas to expand its range of products and services to include aluminum alloy stretched plates and hot-rolled aluminum alloy plates and coils, in addition to its existing aluminum alloy extrusion and cold-rolled plates and sheets product offerings.

Among the top gainers, Jardine Matheson rose 0.6 percent to 50.20 U.S. dollars, whereas Great Eastern Holdings became one of the top losers by falling 1.2 percent to 20.97 Singapore dollars. (1 U.S. dollar equals to 1.41 Singapore dollars) Endit