Singapore shares rose, with Southeast Asia's largest telecom
operator Singapore Telecommunications Ltd
outperforming the broader market after it announced a new
investment holding company.
The Straits Times index was up 0.2 percent at
3,296.50 points, while MSCI's broadest index of Asia-Pacific
shares outside Japan was down 0.4 percent.
SingTel shares rose 1.7 percent to S$3.70, their highest in
a week. It is the most actively traded stock by value in the
Singapore market on Thursday, with 14.8 million shares changing
The company said on Wednesday it has incorporated a
wholly-owned subsidiary SingTel Myanmar in Singapore.
The announcement came a week after SingTel pre-qualified as
one of the 12 international consortia to bid for two mobile
licences in Myanmar.
Shares of oil and gas services provider Ezion Holdings Ltd
rose to S$2.17, their highest in a week, after a
trading halt was lifted.
Ezion said on Thursday that its joint venture has won a $148
million contract to provide a service rig over a 7-year period
in Central America.
1223 (0423 GMT)