Keppel, Singapore Petroleum, SingTel: Singapore Equity Preview

By Simeon Bennett

Sept. 15 (Bloomberg) -- The following companies may have unusual price changes in Singapore trading. Stock symbols are in parentheses, and share prices are as of the last close.

Singapore's Straits Times Index advanced 1.2 percent to 2,570.67, paring last week's loss to 0.1 percent.

Hotel Royal Ltd. (HRY SP): The hotel owner and operator said Malaysia's Foreign Investment Committee approved the proposed acquisition of two hotels in Penang. Hotel Royal rose 5 cents, or 1.6 percent, to S$3.10.

Keppel Corp. (KEP SP): The world's largest builder of shallow-water oil rigs has won the rights to buy an incineration plant from the Singapore government after putting in a bid of S$462 million ($323 million) and will set up a trust for the facility, the company said in a statement yesterday. Keppel advanced 14 cents, or 1.7 percent, to S$8.64.

Singapore Petroleum Co. (SPC SP): The city-state's only publicly traded refiner and explorer cut fuel prices at its service stations by 5 Singapore cents per liter, it said in a Sept. 12 statement after the close of trading. Singapore Petroleum was unchanged at S$4.55.

Singapore Telecommunications Ltd. (ST SP): Southeast Asia's largest phone company said it will review a decision of the Indonesian Supreme Court to uphold a ruling that Temasek Holdings Pte. breached the nation's anti-monopoly laws before deciding its course of action. Temasek owns 54 percent of SingTel, which advanced 8 cents, or 2.4 percent, to S$3.36.

The court upheld a ruling Sept. 12 by the competition regulator, which said Temasek breached antitrust laws by using indirect stakes in PT Telekomunikasi Selular, known as Telkomsel, and PT Indosat to fix prices.

To contact the reporters on this story: Simeon Bennett in Singapore at sbennett9@bloomberg.net;