SINGAPORE

STRAITS Times Index rose 0.1% to 3,005.63 at the close after swinging between gains and losses. Almost three shares advanced for every two that fell in the 30-member gauge.

ARA Asset Management Ltd jumped 5.6% to S$1.51. The company is planning Singapore’s first yuan-denominated initial public offering, people with knowledge of the matter said yesterday. After the close of market, ARA said it’s also considering setting up a yuan-denominated real estate investment trust.

Otto Marine Ltd rose 2.7% to S$0.15 after the shipbuilder won a $36.5 million contract to charter a vessel to U.k.-based Seahold Geoships Ltd. for five years.

Singapore Technologies Engineering Ltd, Asia’s biggest aircraft maintenance company, added 1.3% to S$3.17. - Bloomberg