Singapore Hot Stocks-First Resources soars on Indonesia decison

SINGAPORE, March 14 (Reuters) - Shares of Indonesian palm oil producer First Resources soared as much as 23.2 percent to S$1.17 with almost 14 million traded, after Indonesia's anti-graft body said it will not auction off three of the firm's assets in relation to a case involving one of its founders.

First Resources said in a statement on Friday that the financial penalty imposed on Martias as a result of a court case has been fully paid.

The Indonesian anti-graft body then withdrew its intention to auction off properties it deemed relating to Martias, who goes by a single name.

Last Friday, the firm's share price tumbled to a record low, after it confirmed news of the anti-graft body's intentions.

0125 GMT - Straits Times Index up 1.48 percent.