SINGAMAS Containers was again one of the best performing stocks for the second day running with a five-cent gain to $2.675. The counter has now surged 27.5 cents since Thursday when it stood at $2.40. Analysts have been impressed with the company's rapid growth in the container-making business. The company started up three years ago and is now the world's largest maker. Singamas has plants in Shanghai and Indonesia to serve two of the fastest-growing export economies in the world. The acquisition of a container depot in Hong Kong at the end of last year signalled the group's diversification into storage and repair of containers. Singamas plans to set up eight similar facilities in China to serve the flourishing Yangtze River trade. Analysts expect an equity-raising later this year to finance the construction of a refrigerated container manufacturing plant. The stock is essentially a China play, with sales and profits tied to exports to the mainland. Most Chinese products leaving from Shanghai leave in Singamas containers. The likelihood of China's Most Favoured Nation (MFN) status being renewed by the United States and the resulting increase of China trade should help increase the company's earnings. Garment manufacturer Laws International gained 6.5 cents to close at $2.02 yesterday. Last year the group invested heavily in new weaving equipment which will allow it to make higher quality clothes. The company has one of the largest textile quotas for the US and is one of the largest exporters to the US market. Yanion was the day's biggest loser, falling 12.1 per cent to close at 24.6 cents. Yizheng Chemical was also heavily sold down after announcing a $534.48 million profit, dropping 17.5 cents to $2.15.
