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Singapore shares end slightly higher on Monday

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SINGAPORE shares rose modestly on a quiet Monday with the Straits Times Index closing at 2,809.24, up 0.03 per cent or 0.92 points.

A total of 1.1 billion shares worth S$760.3 million changed hands. Although the market benchmark showed an increase, losers just outnumbered gainers 193 to 188.

OSIM International was an active gainer, adding two Singapore cents or 1.46 per cent to close at S$1.39, matching a revised ex-dividend buyout offer from controlling shareholder Ron Sim.

Mr Sim had raised his offer by two Singapore cents on Friday after it emerged that he had inadvertently bought shares at S$1.39 on the open market despite his ex-dividend offer at the time being S$1.37. Singapore's Takeover Code requires offerors to make the same offer to all shareholders.

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The banks also rose, with DBS Group Holdings higher by 0.4 per cent or six Singapore cents for a S$15.06 close. OCBC Bank rose 1.03 per cent or nine Singapore cents to close at S$8.87, while United Overseas Bank increased by 0.16 per cent or three Singapore cents to head out at S$18.56.

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