IHH Healthcare - Strong Rebound Suggests Further Recovery

SG - IHH Healthcare - Strong rebound suggests further recovery

Strong rebound suggests further recovery

Immediate resistance conquered. IHH Healthcare could see more upside ahead after rebounding off its 5-month uptrend support and $1.55 support on significant trading volume yesterday; its 3-month downtrend resistance was also conquered at the same time.

Indicator turning bullish. The MACD has just rebounded off its centerline as well, suggesting that the upside momentum is building up again.

Next resistance at $1.70. The counter is likely to head towards the $1.70 immediate obstacle (psychological resistance) in the weeks ahead, with the next hurdle pegged at the $1.80 key peak.

Immediate support at $1.55. Meanwhile, we advocate a stop-loss exit at around $1.50, which is slightly below the firm support at $1.55.

Singapore Stock to Watch- Rex International Holdings

Rex To Raise $85.3m From Catalist IPO
Rex International Holdings, an exploration and production player, launched its initial public offering (IPO) on 22 July 2013 with a public offer of 2.5 million shares at $0.50 per share. Including over-allotment, the company expects to place out 168 million shares and raise proceeds up to $85.3 million. Debt free barring for a $2.4 million loan from a controlling shareholder, Rex will use most of the net IPO proceeds for active drilling programmes in the Middle East and Norway, as well as direct investments in new oil and gas opportunities and general working capital. Rex’s business is modeled to reduce its exposure to the expensive and time-consuming costs spanning from the acquisition of licences to exploration and development of oil wells. The Swedish oil and gas group essentially partakes in ventures with already secured exploration and production licences through utilisation of its leading-edge technology in exchange for an equity stake.

Significance: Rex plans to drill two offshore wells in its Oman concession later this year and the first well in each of its other two offshore concessions in the Middle East next year. Its recently started 80-well onshore drilling in the US, while in Norway it will drill three to five new offshore exploration wells as well as grow its licence portfolio. First oil production for its US assets in North Dakota is expected in 4Q13.

Singapore Stock Views - Thai Beverage Likely further correction after bearish break.

SG - Thai Beverage - Likely further correction after bearish break

Likely further correction after bearish break.

Key supports breached. Thai Beverage is likely to see more downside ahead after violating the lower boundary of its 1-year uptrend channel recently; this was followed by another bearish break of the $0.58 key support on heavy volume yesterday.

Indicator is bearish. The MACD has just initiated a sharp bearish crossover, suggesting that the downside momentum is building up.

Next key support at $0.50. The counter could possibly slip further towards the next key base at $0.50 (key trough) in the weeks ahead.

Immediate resistance at $0.58. Meanwhile, $0.58 is now the newly established support-turned-resistance.

Stocks to Watch - CapitaMall Trust; another promising quarter

CapitaMall Trust (CMT) reported DPU of 2.53 S cents, up 6.3% YoY. Together with 1Q DPU of 2.46 S cents, 1H13 DPU totaled 4.99 S cents (+6.6%), forming 50.9% of FY13F DPU. This is above our expectations given that a total of S$12.3m or c.0.36 S cents retained over 1H is available for distribution in 2H13. As at 30 Jun, CMT’s portfolio occupancy stood at 99.1%, up 0.9ppt QoQ, while positive rental reversion of 6.4% achieved in 1H was slightly higher than 1Q’s growth of 6.2%. CMT’s financial position also improved during the quarter, with gearing ratio down to 34.9% from 35.2% in 1Q. On 2 Jul, CMT redeemed all its outstanding convertible bonds due 2013, thereby fully addressing its refinancing needs for 2013. All 14 properties held directly by CMT, we note, are also unencumbered as a result. We now update our model to incorporate the better results and higher risk free rate assumptions. Consequently, our fair value eases from S$2.43 to S$2.35. However, given the strong upside potential, we maintain BUY on CMT.

Robust growth in 2Q13

CapitaMall Trust (CMT) reported a commendable 2Q13 scorecard last Friday. NPI grew by 12.2% YoY to S$125.6m, while distributable income to unitholders rose by 10.2% to S$87.7m. The completed asset enhancement works at JCube, Bugis+ and The Atrium@Orchard last year, together with higher rental rates achieved from the portfolio’s new and renewed leases, were the key drivers for the quarter. DPU was up 6.3% YoY to 2.53 S cents and, together with 1Q DPU of 2.46 S cents, brings the 1H13 DPU to 4.99 S cents (+6.6%). This forms 50.9% of FY13F DPU, above our expectations given that a total of S$12.3m or c.0.36 S cents retained over 1H is available for distribution in 2H13.

Continued strong execution

As at 30 Jun, CMT’s portfolio occupancy stood at 99.1%, up 0.9ppt QoQ due to significantly improved occupancy rates at Plaza Singapura and The Atrium@Orchard. Positive rental reversion of 6.4% was also achieved in 1H, slightly higher than 1Q’s growth of 6.2%. In addition, underlying fundamentals remained sound, with 1H13 shopper traffic and tenants’ sales rising 4.8% and 3.3% YoY respectively. For the rest of 2013, we note that only 11.9% of leases by rental income is left for renewal. This reflects CMT’s continued strong execution in our view.

Maintain BUY

CMT’s financial position also improved during the quarter, with gearing ratio down to 34.9% from 35.2% in 1Q. This is boosted mainly by an asset revaluation gain of S$104.0m arising from a 15bps compression of cap rates at several of its malls. On 2 Jul, CMT redeemed all its outstanding convertible bonds due 2013, thereby fully addressing its refinancing needs for 2013 and releasing The Atrium@Orchard from legal mortgage. All 14 properties held directly by CMT, we note, are unencumbered as a result. We now update our model to incorporate the better results and higher risk free rate assumptions. Consequently, our fair value eases from S$2.43 to S$2.35. However, given the strong upside potential, we maintain BUY on CMT.

STI Market Live

Sembcorp Industries: Not your typical utilities company Summary: Sembcorp Industries (SCI) is a major industrial group primarily involved in the businesses of 1) utilities, 2) marine and 3) urban development. The nature of its utilities business is relatively stable, while growth is driven by asset acquisition and construction. SCI's marine arm is also well-positioned to capitalise on demand from the offshore oil and gas industry, given its market-leading position. Finally, the urban development segment possesses growth potential with its focus on emerging markets. The long-term outlook for its businesses look bright, though the Singapore utilities business may, in the short term, be impacted by an expected increase in competition. The group has been consistent in paying out dividends of at least S$0.15/share each year since 2009, implying a minimum dividend yield of 3.1% at current prices. Initiate with BUY and S$6.48 (based on sum-of-parts method) fair value estimate. MORE REPORTS Tat Hong Holdings: Time to take profit Summary: Since our last upgrade on Tat Hong Holdings ("Poised for Recovery", 9/1/2012), the group's crane fleet grew by ~20% (in tonnage), utilization rate by 5 ppt and rental rates by an estimated 10-15%, resulting in a 66% jump in FY13 PATMI. In our view, the easy money has already been made. Investors who have heeded our call would have made 45% return in 1.5 years and should now consider taking some profit. Looking ahead, the macro environment looks increasingly uncertain with sluggish data points coming out of China. Tat Hong's crane fleet expansion is also expected to slow after a 79% surge in crane tonnage over the past five years. Finally, there is a possible share overhang resulting from private equity AIF Capital's conversion of convertible preference shares to 53.3m ordinary shares. Downgrade to HOLD with lower FV estimate of S$1.31 (previously S$1.75). (Chia Jiunyang)

NEWS HEADLINES

- AusGroup is suing Karara Mining Limited for A$54.7m for works carried out in Western Australia. - Baker Technology has divested its entire 20.29% stake in Discovery Offshore SA for NOK199m (S$41.9m). - Swissco has secured contracts worth S$8.24m for three of its crew boats. - Yongnam Holdings has secured two new specialist civil engineering subcontracts worth HK$166m (S$27m). - Z-Obee's FY13 net income fell 17% to US$4.26m as impairment losses from the group's asset portfolio wiped out an increase in fair value gains.

Singapore’s equity top picks tips

key themes in Singapore’s equity space: 1) earnings quality with an overseas bias; 2) China domestic demand; 3) visitor arrivals to Singapore; 4) stock-specific stories.

For the first, it likes SembCorp Marine (S51.SG) as it is well-positioned for an expected order surge in 2H and has a healthy order book, Vard (MS7.SG) with its improving order outlook and asset enhancement investments, and Genting Hong Kong (S21.SG) given its valuations and improving asset performance.


For the second, it likes CapitaMalls Asia (JS8.SG) as Singapore’s best play on Asian retail and consumption, Global Logistic Properties (MC0.SG) as China’s 12th five-year plan highlighted the logistics sector as a pillar industry, and China Minzhong Food (K2N.SG) as its large-scale vegetables origination and processing business in China is well poised to grow given a burgeoning population and urbanisation trend.


On the third, it likes Genting Singapore (G13.SG) as it runs a high-traffic casino in Singapore’s protected two-player market, which has 25-year concession visibility. On the fourth, it likes Hongkong Land (H78.SG) as it provides the greatest leverage to a recovery in the Hong Kong Central office market, Neptune Orient Lines (N03.SG) on expectations for a rebound in net profit, and ARA Asset Management (D1R.SG) given its track record of growing assets under management and its scalable business model.

OVERNIGHT MARKET : Implications for Singapore

US equities posted modest gains on Friday but still fell for the week as fears over stimulus withdrawal dominated investor sentiment.

P&G (+2.9%) led gains for the Dow on Fri but the index fell 1.8% for its worst week performance since Apr. The S&P 500 saw some bargain hunting for defensive sectors on Fri but lost 2.1% for the week. Rounding off the major indices, the NASDAQ Composite declined 1.9% for the week. NYSE composite volume exceeded 5.6b (4.8b previously).

WTI Crude for Aug lost US$1.45, or 1.5%, to end at US$93.69/barrel while Brent for Aug delivery lost US$1.24, or 1.2%, to settle at US$100.91/barrel. For the week, WTI and Brent lost 4.5% and 4.7% each.

Gold for Aug delivery added US$5.80, or 0.5%, to end at US$1,292.10/ounce while Silver for Jul gained 14 cents, or 0.7%, to settle at US$19.96/ounce. For the week, gold and silver lost 6.9% and 9.1% each. 

Implications for Singapore

The modest gains by the US indices last Friday night and the positive Nikkei start (up 0.9% now) could provide some mild inspiration to the local bourse this morning.

Despite plunging below the 3100 key support intraday on Friday, the STI managed to regain most of its earlier losses and close back above this vital level.

With today's tone likely to turn a tad more optimistic, the index could inch higher in the direction of the 3230 key resistance; however, the risk of investors selling into strength again as the index recovers still remains.

Beyond the 3230 level, the next obstacle is pegged at the 3320 resistance. On the downside, 3100 is still the immediate support, followed by the next base at the 3000 psychological level.

SGX on CapitaLand Hospitality

While visitor arrivals increased by 6.4% in 1Q13, gross lettings for 1Q13 grew by only ~2.8% to 2.8m room nights. This means that on a per capita basis, visitor arrivals are converting into fewer room nights, continuing a trend we note for 2012. With regard to the haze, we understand from an industry source that hotel bookings are not being negatively affected just yet. However, we think a blip in hotel performance through 3Q13 is likely given that the haze could last at least several weeks. Keeping in mind the mild oversupply situation for hotels we see building up, we remain NEUTRAL on the hospitality sector. We prefer Global Premium Hotels [BUY, FV: S$0.33], a longer-term asset value play in the Economy and Mid-tier space. (Sarah Ong) Mapletree Logistics Trust: Scaling up presence in Korea Mapletree Logistics Trust (MLT) has entered into a sale and purchase agreement with supply chain management company, Oakline Co. Ltd, for the acquisition of The Box Centre in South Korea. Oakline will lease back the property for a period of six years with built-in rental escalation from second year onwards. At a purchase consideration of KRW28.75b (~S$32.0m), the property is expected to provide an initial NPI yield of 8.4%. Management expects to fund the acquisition fully by debt, which is expected to increase its aggregate leverage marginally from 34.1% as at 31 Mar to 34.6%. This is likely to add ~0.03 S cents to FY14 DPU, based on our projections. We now factor in the acquisition into our forecasts, with the assumption that it will be completed in Jul. However, we reduce our fair value from S$1.34 to S$1.15 on higher cost of equity to reflect a higher risk-free rate, higher beta and reduced market risk appetite for interest-rate sensitive stocks. We maintain HOLD on MLT due to valuation grounds. (Kevin Tan) CapitaLand Limited: Top bid for Coronation site Yesterday evening, CapitaLand (CAPL) put in the top bid of S$366 million for a 99-year leasehold landed residential site at Coronation Road. The 37,441 sqm site is located within an established landed housing estate and enjoys good accessibility to Bukit Timah Rd and Pan Island Expressway. The GLS tender attracted 12 bids and CAPL's top bid was 17% higher than the second highest bidder - signaling the group's confidence in this project. We understand CAPL intends to develop a landed project comprising semi-detached and bungalows. We expect selling prices in the range of S$1.6k - S$1.8k psf and the project to accrete 1.3 - 2.2 S-cents to CAPL's RNAV. Pending the award of the site, we would keep our fair value estimate unchanged at S$4.29 (20% discount to RNAV). Maintain BUY. (Eli Lee)

NEWS HEADLINES - US stocks tumbled on Thurs, with the S&P 500 suffering its worst session since Nov 2011, hit by fear that the Federal Reserve will scale back its bond buying later this year. - South Korea's Lotte Shopping Co Ltd is looking to raise US$800m to US$1b by listing a REIT in Singapore as early as this year, according to IFR, a Thomson Reuters publication. - China's flash HSBC Purchasing Managers' Index for June dropped to a nine-month low yesterday, pointing to continuing weakness in local and external demand. - Armstrong Industrial Corporation Limited said that it has received a proposal from a consortium involving its major shareholder that may result in the delisting of the company. - Former Novena Holdings CEO Toh Soon Huat is leading a group of 17 investors, including a unit of mainboard-listed Serial System, to pump a total of S$15.04m into Jubilee Industries Holdings. - ISDN Holdings Limited plans to raise up to S$111.6m in gross proceeds from the issue and exercise of warrants. - Stamford Tyres Corporation posted an 18.5% rise in earnings for its full fiscal year ended April 30, boosted by a one-time gain from the sale of its stake in an associate.

STI on drop

Singapore shares were headed for their biggest one-day decline in more than a year, tracking weaker global markets after Federal Reserve chairman Ben Bernanke said the central bank would start to reduce its stimulus measures later this year.
The benchmark Straits Times Index dropped nearly 2% on Thursday. The broadest MSCI's index of Asia-Pacific shares outside Japan fell more than 3% in its sharpest daily slump since November 2011.
Share price of Medtecs International Corp, which produces medical products including face masks, surged 11% in a second straight day of rise to $0.07, on expectation of higher sales of masks in the city-state hit by its worst air pollution in history.
In other stocks, ComfortDelGro Corporation fell 2.8% to $1.76, but stayed off a six-month low of $1.70 hit last week. Analysts at OCBC Investment Research saw it as a good entry point given its recent share stability and unchanged fundamentals.
“Domestic challenges aside, the group's overseas growth prospects, which have been its key growth driver, remain unchanged,” the analysts wrote in a note, adding that the blow to share price from a recent partial stake sale by the Singapore Labour Foundation has tapered off.
OCBC upgraded the stock to “buy” with a target price of $1.95.

SXG up with Phillip, Keppel Corp

PhillipCapital removes Boustead Singapore (F9D.SG) and SIA Engineering (S59.SG) from its top picks list for Singapore and replaces them with Singapore Exchange (S68.SG) and Keppel Corp. (BN4.SG).

The house likes Singapore Exchange for three reasons: higher securities revenue; continued derivatives revenue growth; an expected increase in free cash flow and dividend yields. It has an Accumulate rating and $8.00 target on the stock.

The house believes that Keppel Corp. "will continue to benefit from the robust O&M outlook, which is well-supported by high dayrates and utilizations for both jack-up and semi-sub rigs." Keppel's 4%-5% dividend yield should also not be ignored, it says. It has an Accumulate rating and $12.34 target on the stock.
Boustead is flat at $1.32, SIA Engineering gains 0.8% to $4.93, Singapore Exchange is up 1.1% at $7.34 and Keppel Corp. is 1% higher at $10.68.

Singapore's STI is trading at 3,215.39, up 1.1% from Monday's close after a bullish cue from Wall Street. Singapore Technologies Engineering (S63.SG) is pacing gains, up 2.8% at $3.99 after it announced its unit ST Aerospace has signed a deal with UTC Aerospace systems for long-term repair and maintenance of Boeing 787 Dreamliner components.

Consumer Sector, Cache Logistics Trust: SG Market Updates

We downgrade the consumer sector to UNDERWEIGHT in light of the weaker SG retail sales figures for Apr and the potential threats to regional consumer spending (i.e macro-overhang, government policy changes and greater foreign competition). With sales figures likely to showcase unimpressive results for May, 2QCY13 could well shape out to be a muted quarter in terms of top-line growth for consumer companies. Furthermore, operating cost pressures resulting from higher wage costs and advertising and promotional spending still remain so operating margins are likely to stay depressed. Within the sector, we favour counters with defensive qualities such as Sheng Siong [BUY; FV: S$0.82] or counters with potential M&A activity Viz Branz [BUY; FV: S$0.74]. (Lim Siyi) MORE REPORTS Cache Logistics Trust: Valuation looks undemanding Summary: We are reiterating our prognosis that Cache Logistics Trust (CACHE) is likely to continue to deliver sustainable growth for FY13. CACHE has a portfolio of quality assets which has a 100% occupancy rate and strong weighted average lease to expiry of 3.7 years. Together with the recent acquisition of Precise Two, CACHE is likely to meet our growth projection for 2013. Since 22 May, the S-REITs sector, including CACHE, has recently experienced a sell-down on fears that the US Federal Reserve may reduce the pace of its bond purchase programme and raise the interest rates in the coming months. However, we believe that the market reaction on CACHE is overdone, given its strong financial position and active capital management. At current price, CACHE offers a FY13-14F DPU yield of 6.8-7.1%, which represents an attractive spread of 471-500 bps to Singapore's 10-year bond yield. While we now revise our fair value to S$1.40 from S$1.45 on higher risk-free rate assumption, we still see good upside potential on CACHE. Maintain BUY. (Kevin Tan)

NEWS HEADLINES - Asian stock futures fell, signaling a possible extension of declines amongst Asian equities after the International Monetary Fund cut its US growth forecast and ahead of the Federal Reserve meeting this week. - Singapore may gain from its first-mover position for business trusts in the region, market watchers say, even if historical performance is mixed and amid a recent dip in sentiment for yield plays. - Singapore's monetary authority censured banks for trying to rig benchmark interest rates and orders the setting aside of as much as S$12b at zero interest pending steps to improve internal controls. - Far East Orchard has been awarded a tender for a residential land parcel with FCL Topaz Pte. Ltd., a member of Frasers Centrepoint and Sekisui House, Ltd. The total tender price for the land was S$256.9m. - First Ship Lease Trust demands the redelivery of its two crude oil tankers, after lessees default on their lease payments. - Freight Links Express expands the scope of its logistics business by entering the commodity logistics segment

STI Weekly Technical Data Analysis

Some points to note for this week's analysis (10-14 Jun 2013):
1) None of the counters are in the overbought region (RSI value 70 and above).
2) 10 of the counters is in the oversold region (RSI value 30 and below).

After ending last week at 3184.72, the STI slid further this week to close at 3161.43 (closing end of today), with an intraweek high of 3214.88 and an intraweek low of 3094.86.

Despite another week of losses, we note that the index has built a firm support at the 3100 key level after rebounding strongly from its intraday low yesterday.

And with the index showing signs of re-conquering the 3160 immediate obstacle today, we could potentially see a further technical recovery towards the 3230 subsequent resistance in the week ahead.

STI down 1.86%

Singapore shares fell for the third day in a row, plumbing new 2013 lows, hit by concerns that the U.S. Federal Reserve will roll back its stimulus amid a slowing global economy.

The Straits Times Index (STI) declined as much as 1.86% to 3,094.86, the lowest since Dec. 7. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1.9%. 

 Japan’s Nikkei share average dived more than 5%, while Hong Kong’s Hang Seng Index shed 2.9%.

 "Markets are very jittery these few weeks, believing that once QE (quantitative easing) is taken out, markets will more likely reflect the reality of the slow growth environment," said Kenneth Ng, head of CIMB Research in Singapore. "We think the floor (for the STI) is somewhere at 2,740 to 2,955. 

We think that the selldown will continue, so we’ll start buying only after it falls below 3,000." Selling in the Singapore market is broad-based on Thursday, led by Global Logistic Properties, Singapore Technologies Engineering and Sembcorp Industries, which fell around 3% each.

Starhill, Tiger, Midas up STI

Starhill Global REIT: Another positive development Summary: Starhill Global REIT (SGREIT) announced that the rent review for the Toshin master lease has been concluded, and that a renewal rent at 6.7% higher than the prevailing rate has been secured. This is consistent with our 29 Apr report that SGREIT may again benefit from rental upside following the completion of the review process. We now factor in the increased rents in our forecasts but lower our fair value marginally to S$1.00 on higher risk-free rate (S$1.05 previously). However, we continue to like SGREIT for its growth potential, strong financial position and compelling valuations. For FY13, SGREIT looks set to gain from continued strength from its Singapore portfolio, incremental income from its newly-acquired Plaza Arcade and a 7.2% rental escalation from its Malaysia master leases in Jun. We maintain BUY on SGREIT. Key risks include weaker JPY/AUD and negative impact from a potential CPU conversion. (Kevin Tan) MORE REPORTS Tiger Airways: Time for a tiger Summary: In light of its more than 6% price correction, we are reiterating our BUY rating on Tiger Airways (TGR) with an unchanged fair value estimate of S$0.79 as we believe prospects remain positive for the counter. Its recent May operating statistics revealed its eighth consecutive month of passenger traffic growth for TGR SG, and passenger load factors during the period have also remained fairly resilient, which demonstrates its effective capacity management. In addition, we are hopeful for a better showing from its associate airlines given the propensity for travel in the coming months for Indonesia and the Philippines. On a broader scale, the industry dynamics, namely growth in the Asia-Pacific region, remains conducive for budget carriers as consumers become more affluent and appetite for air travel increases. (Lim Siyi)

Midas Holdings: JV NPRT secures CNY1.26b metro contract Summary: Midas Holdings (Midas) announced that its 32.5%-owned JV Nanjing SR Puzhen Rail Transport (NPRT) has clinched a CNY1.26b metro contract. This is for the supply of 33 train sets (or 198 train cars) for the Shenzhen Metro Line 3 project. However, delivery is scheduled only from 2015 to 2016. Given that this is the third contract secured by NPRT in two weeks, we believe this highlights the growing momentum of China's metro industry. In our view, this may also lead to future contract wins for Midas given that it is a supplier of aluminium extrusion profiles for NPRT. Maintain BUY on Midas, with an unchanged fair value estimate of S$0.54, pegged at 1.1x FY13F P/B. (Wong Teck Ching Andy)

NEWS HEADLINES - US stocks fell, sending the S&P 500 Index lower for a second day, after Bank of Japan Governor Haruhiko Kuroda said he sees no need to expand monetary stimulus immediately. - DBS would still want to buy Temasek's entire stake in Danamon, Business Times reports, citing an interview with Peter Seah, chairman of DBS Group Holdings Ltd. - Aussino expects that it will not be able to exit the SGX watch list by the 3 Sep deadline and intends to apply to SGX for extension of time to apply for removal from watch list. - T T J Holdings wins new contracts for structural steelworks and civil defence shelter doors in Singapore and Malaysia, bringing its order book to S$164m as at 11 Jun. - Tsit Wing's Chairman and CEO Peter Wong seeks to privatize the company and has acquired an aggregate of 20m ordinary shares at a price of $0.3075 each, valuing it at S$65.5m - Del Monte Pacific says shareholder Nutriasia Pacific to enter a placement agreement for the sale of 150m shares of the Company which will be listed and traded on the PSE, marking first dual listing between the SGX and the PSE.

STI down 0.6% with 3150 support

Singapore shares slipped into the red in early trading, joining Asian peers in poor health as investors continued to mull mixed economic signals out of Asia and the US.

The STI drops 0.6% to 3,180.80, retreating to near its 2013 lows.
"Given mixed Wall Street seen overnight and the lack of catalyst for any rally, do expect the STI to remain range-bound at 3,150-3,210," OCBC says in a note. Penny stocks find favour in thin volume, with 729.8 million shares worth $385.6 million changing hands. Decliners outnumber gainers 236 to 71.

Property-related stocks, which had helped lift the index Monday, handed back much of those gains. Global Logistic Properties (MC0.SG) led decliners on the STI with a 1.8% fall to $2.76, while CapitaLand (C31.SG) retreated 2.4% to $3.26. City Developments (C09.SG) meanwhile slipped 1.1% to $10.04.
Banks are also in the red: DBS Group Holdings (D05.SG) is down 0.4% at $16.02, UOB (U11.SG) falls 0.4% to $20.00, while OCBC (O39.SG) eases 0.7% to $10.07.

Golden Agri, ASL Marine, Swiber for STI Up

Golden Agri-Resources: Modestly firmer CPO boost

Summary: Golden Agri-Resources (GAR), being one of the largest palm oil plantation owners in the world, should benefit from the recent rebound in CPO (crude palm oil) prices to MYR2450/ton; we note that there is a strong historical correlation of nearly 0.7 between CPO prices and GAR share price. While the general outlook for commodities is still uncertain (as China's economic growth continues to sputter along), we believe that headwinds appear to be dissipating. Furthermore, management remains fairly upbeat about its prospects as it continues to expand its integrated operation capabilities to benefit from the firm industry outlook. Maintain BUY with an unchanged S$0.63 fair value (based on 12.5x FY13F EPS). (Carey Wong)

MORE REPORTS

ASL Marine: Ceasing coverage

Summary: Among the various offshore and marine stocks, ASL Marine (ASL) is one of the counters with a more diversified business model. Its shipbuilding operations accounted for 46% of gross profit in 9MFY13, ship-repair and conversion accounted for 22%, while ship-chartering contributed 32%. The group expects the outlook of the offshore and marine industry for this year to be "good", but margins may be impacted by stiffer competition from Chinese shipyards. The long-term future of ASL looks bright, but more time would likely be needed for significant earnings growth and a re-rating of the stock. In particular, the liquidity of the stock is relatively low, partly due to the free float of ~37.8%. We last rated ASL a Buy with a fair value estimate of S$0.86. Due to a re-allocation of internal resources, we are ceasing coverage on this counter. (Low Pei Han)

Swiber Holdings: More work coming up?

Summary: According to Upstream, PEMEX is preparing to begin a bid process that aims to offer a contract to deliver and install four Ayatsil platforms. The group is in the pre-qualification phase for the contract, and heavy-lift contractors such as Saipem, Heerema and Swiber Holdings are said to be interested. The entire package is estimated to be worth ~US$300m. Swiber recently saw its share price run up about 23% from 14 May (pre-1Q13 results announcement) to its close on Friday, after we upgraded our rating from Hold to Buy. However we still see an upside potential of about 12% over a one-year time frame. Maintain BUYwith S$0.86 fair value estimate. (Low Pei Han)



NEWS HEADLINES

- Sembcorp Industries Ltd. reports solid waste management unit getting a S$299m contract from NEA to provide refuse collection and recycling services to the City-Punggol sector of Singapore.

- British automaker Rolls-Royce has won a contract to supply engines and support 50 of Singapore Airlines' Boeing Dreamliner jets in a deal worth US$4b at list prices.

- Asian Pay Television says asset manager Thornburg Investment to raise stake in the company; buying 73.8m shares for S$53.6m.

- Halcyon Agri Corp. (HACL SP) reports listing of 40m new shares at S$0.5175 each.

- Armarda Group (AMDA SP) names Chu Yin Ling Karen as CFO. Chu Yin Ling was previously the Financial Controller of Armarda Group Ltd since July 2009.

Banks down STI on 4 ½ month Low

STI shares fell down lowest pts, due to decline in Banking Sectors.

The STI fell 2.9% to 3169.23, down 7.7% from this year peak on 22 May 2013.

The MSCI’s broadest index also dropped 2.9%.

United Overseas Bank shares fell 2.4 % to $20.29. 

DBS Group Holdings fell 1.8% to $16.10.

Keppel gains, STI fall

Singapore shares weakened, while the world’s biggest offshore oil rig builder Keppel Corporation gained on news that it won an US$800 million ($999 million) rig order from Azerbaijan.

The Straits Times Index dropped 0.7% to 3,265.44, while the MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.7%.

Shares of Keppel Corp rose as much as 1% to $10.68, after the company announced that it won a contract from Caspian Drilling Company, a subsidiary of the State Oil Company of Azerbaijan Republic, to build a semisubmersible drilling rig, worth about $800 million.

 “This contract will lift Keppel’s year-to-date wins to $2.4 billion, forming 41% of our full year assumption of $6 billion,” said DBS Group Research, keeping an unchanged “buy” rating and target price of $13.00. Other brokerages had a bullish outlook on Keppel Corp.

 “With Keppel’s seven jack-up orders to date, all based on its KFELS B class jackup designs, we believe the outlook for margins in 2014 continues to improve,” said Barclays analysts, keeping Keppel as its top pick in the rig-building space.

The oil and gas sector index gained 0.4% on Wednesday, down 1% so far this year, lagging behind the benchmark index’s 3% rise.

S-REITs Nam Cheong

Singapore REITs: Capitalize on over-reaction We see two key factors driving the S-REITs price correction over the last two weeks. First, increased expectations that the Federal Reserve could taper its bond purchases as early as 2H13; and secondly, opportunistic profit-taking on the back of a strong performance over 2012-13. At this juncture, however, we see the selling to be overdone. In our view, the odds of the Fed tapering bond purchases in 2H13 are roughly 50-50 and we see fundamental valuations for the S-REITs sector (370bp against the 10Y government bonds) to be undemanding currently. In addition, S-REITs sector would likely continue to deliver, in 2013, firm earnings from asset enhancement initiatives/development projects, yield-accretive acquisitions and active leasing efforts. Maintain our OVERWEIGHT rating on the S-REITs sector. Starhill Global REIT [BUY, S$1.05 FV] is our top pick in the sector due to its growth potential, strong fundamentals and compelling valuations. We also like CapitaCommercial Trust [BUY, S$1.80 FV] and Fortune REIT [BUY, HK$8.64 FV] for the quality of their portfolio assets, positive rental reversion profiles and low gearing. (S-REITs Team) MORE REPORTS Nam Cheong: Ride the upcycle! Nam Cheong Limited recently announced that its Executive Director, Mr. Leong Seng Keat, has been re-designated as the CEO. Mr. Leong, also the son-in-law of ex-CEO Datuk Tiong Su Kouk, has been with the group since 2005. We expect the leadership transition to be smooth. Meanwhile, we continue to like Nam Cheong for its market leadership in the increasingly active Malaysia oil & gas industry. Having seen a healthy pick-up in order wins, Nam Cheong recently expanded its shipbuilding programme to 28 vessels for FY14F (FY13: 19 vessels). Its large order-book of MYR1.3b, for 26 vessels delivered over FY13-15F, helps to mitigate its risk by providing a base level of earnings. Maintain BUY with a higher FV of S$0.35 (previously S$0.30). (Chia Jiunyang)

NEWS HEADLINES - Datapluse Technology posted a 23.2% increase in net profit to S$2.19m for its 3QFY13 ended 30 Apr. - NH Ceramics entered into a purchase agreement to buy BlackGold Asia Resources Pte Ltd and BlackGold Energy Limited for US$150m. The two BlackGold firms control about 53,000 hectares of coal concessions in Indonesia. - Asian Micro Holdings is planning to acquire Oxley Global Limited in a proposed RTO deal. - Halcyon Agri announced that it would acquire Malaysian rubber processor Chip Lam Seng for RM63m (S$25.7m). - According to the latest purchasing managers' index, Singapore's industrial activity grew at a faster pace in May, also signalling a fourth consecutive month of growth for the electronics sector.

STI on Downfall

STI dropped 0.61% to 3,291.08. 

The top trading stock are Ramba gain +28.93%, Singtel keep flat, DBS dropped -1.81%, OCBC Bk gained +1.55% and UOB also gained +1.96%.

Real Estate Investment Trusts (REITs) gained +1.72% 
but fall was recorded in CapitaComm -0.66% and CapitaMall of -1.40%.

STI stay with Fall

The STI dropped 0.74% with 24.64 points to 3311.37 .

Singapore Telecommunications Ltd's shares biggest loser with 5.3% fall.

Singapore Press Holdings also fall 2.06 % to Sg$4.27.

 But DBS Bank up 1.12% at Sg$17.16.

A spike in bond yields appeared to be the key factor behind the fall in share prices of Singapore-listed telecoms, Daiwa Capital Markets said in a report dated May 30.

"We find Singapore, Malaysia and Philippines telecom stocks to be vulnerable to yield spikes," it said.

The rallies seen among defensive stocks in ASEAN telecoms over the past three years had more do with falling risk premiums rather than changes in earnings outlooks, it said. As such, the recent spike in 10-year bond domestic yields in various ASEAN markets is a matter of concern, it said.

STI 5 weeks low with Property Bank Fall

SGX shares fall down lowest in 5 weeks. 
The STI dropped 1.4% to S$3,321.08 while MCSI's broadest index also show 0.5% down.

Global Logistic Properties falls 4.6 % to S$2.72 become biggest loser in STI. 

CapitaMall Trust also down 2.8%.

In Banking, United Overseas Bank dropped 3.6%. 

DBS Group Holdings also down 2% at S$16.77.

STI Flat with United Fiber, Tat Hong Profit

SGX shares got little changed just after a 5 yrs high score in last week. The STI traded flat while MSCI's broadest index shed 0.1 %.

Golden Agri-Resources Ltd's shares rose 1.7% to 1 week high f S$0.585. 

United Fiber System Ltd's equities get 23% to S$0.037 with posted a $15.6 million profit in Q1. It also boosted by a $16.9 million gain on the de-consolidation of its subsidiary, Poh Lian Construction. United Fiber come top traded stock by volume. 

Tat Hong Holdings Ltd shares also rose 1.3% to S$1.53 with posted net profit of S$18.6 million in Q1.

STI Up with SG Press Gains

STI shares get narrow up with Singapore Press Holdings Ltd in biggest gainers, as plan to establish and list a real estate investment trust (REIT).

The STI up with 0.2% to 3,403.63 while MSCI's broadest index get down 0.2 %.

Singapore Press Holdings (SPH) shares gained as much as 3.9 percent to a seven-week high of S$4.56. It was the most traded stock by value on Tuesday. The company aims to make S$1.048 billion ($829 million) by selling part of a REIT whose assets are two shopping malls.

Sembcorp Marine Ltd also rose as much as 1.6 % to S$4.48. Shares in Yoma Strategic Holdings Ltd jumped as much as 6 percent to a three-month high of S$0.88 on Tuesday, after brokerages upgraded the property developer on upbeat business prospects in Myanmar.

Yoma reported a net profit of S$11.5 million for the quarter ended March 31, up from S$2.1 million a year earlier, boosted by an increase in sales of residences and land development rights in Myanmar.

Yoma's involvement in Myanmar's telecommunication and agriculture industries could propel its share prices higher, analysts also said. The shares have risen nearly 22 percent so far this year, beating a 6.7 percent gain in the sector index.

Soilbuild Up 56% with Huge Volume in SGX

Soilbuild Construction Group Ltd's equities move up 56% on its debut in Singapore. It rise up S$0.39 from its offer price of S$0.25. Soilbuild Group also offers new 168M shares to raise nearly S$40 million. It had got two contracts in Myanmar. Its also expects to further expand. The company has a total market value of about S$259 million.

STI on 61.2 pt down fall

On 23 May, SGX noticed 1.77% fall and got closed on 3393.17. It was approxed 61.20 pt fall. It may cause due to effect of other share markets.

Keppel REIT fall down SGX Live

Keppel REIT's units fell down up to 2% with just Keppel Corporation Ltd would sell a 6.7 % stake in the trust for S$280 million.

Price down notice after a 5-1/2-year high of S$1.63 last week, outperforming a 13 % rise in the sector index.

Keppel REIT alive at S$1.57 per unit 7 sell price of $1.555 for the 180 million units or 6.7 percent of the total issued units. it remained positive on Keppel REIT because of the trust's strong office portfolio in Singapore, and retained its target price of S$1.64.

STI up with Singtel, Keppel stock

SGX Shares up with Singapore Telecom rise up high since Jan 2008 & Keppel Corp with 1 month high.

STI up with 0.1% to an intra-day high of 3,458.04. MSCI's broadest index also gained 1%.

 

Keppel Corp's shares rise a month high of S$11.09. Its crosstown rival Sembcorp Marine Ltd rose 0.9 percent to S$4.47.

SingTel also get up a 5 ½ yr high as1.5% to S$4.08. The company's Australian unit, Optus, has announced plans to roll out Australia's first multi-band 4G network. 

SingTel posted a 33 percent drop in fourth-quarter net profit, but said it will pay a final dividend of 10 cents a share, up from 9 cents a year ago.

STI again on 5.5 yr High, SIA down

SGX Shares hit up their 5 ½ yr high, beside it Singapore Airlines Ltd, Asia's second-biggest airline drop after 19 months via posting disappointing results.

STI rise with 0.5% to 3457.07, thats topped valuve since 2008, while MSCI's broadest index of Asia-Pacific' shares down 0.2% .

SIA's shares fell 4.4 % to S$10.95, a low since three weeks. Its due to company reported weaker-than-expected full-year results. It downgraded SIA to "sell" with a fair value estimate of S$10.00.

STI on Balance, Noble Down SGX Live

SGX stock keep steady state, besides it Noble Group Ltd fell down due to weak first-quarter results.

STI keep flat while MSCI's broadest index get up 0.2%.

Noble' equities fell 2.3% to S$1.07.

Noble report negative image by posting a 62% fall in first-quarter results.
Ezion Holdings Ltd's shares also rise 4.4% to remarked high S$2.39.

DBS Vickers kept its "buy" rating on the stock and upgraded its target price to S$2.52 from S$2.47.

Yongnam Holdings Ltd's equities rose 6.1 percent to S$0.35, the highest since November 2007, after the company posted a marginal rise in first-quarter net profit.

STI Up Noble Down : SGX Stock Live

SGX shares rise a little with a downfall on Noble Group Ltd's shares due to poor results in first quarter.

STI get up just 0.2% to 3451.04 pts besides it, MSCI's broadest index also shed 0.1%.

Noble's equities fell 6.3% to to S$1.045, the lowest since July 2012. Just due to first-quarter net profit fell 62 percent to $41.3 million, attributing the results to a challenging operating environment.

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SGX Stock Pick Live : Golden Agri Boost Stock

The Straits Times Index (STI) inched up 0.3 percent to 3,441.83, hovering near a 5-1/2-year high of 3,447.73 hit in the previous session.

Golden Agri-Resources Ltd boost up 4.7 % after the company posted a more than two-fold increase in quarterly net profit compared with the preceding quarter.

The company, a palm oil producer in Indonesia, said its net profit in the first three months of the year jumped 176 % to $113 million from the previous quarter, though it fell 30 percent from a year earlier.

Improvement in the company's China operations, selldown of inventory and lower operating expenses helped offset the seasonally lower production and soft palm oil prices.

OCBC Investment Research upgraded its rating on the shares of the company to "buy" from "hold", with a target price of S$0.63.

Despite the gains, Golden Agri was the worst index performer so far this year with a 15 percent decline, while the index was up nearly 2 percent. Shares were up 3.77 percent at S$0.55 at 0324 GMT.

First Resources Ltd, another palm oil firm, reported a 29.9 percent jump in its first quarter net profit. Share price rose more than 3 percent to a near one-month high of S$1.81.

SGX Index Up with Fortune REIT, Olam Profit

SGX Equities come up with again Olam International Ltd. It was just after reporting company’s
joint venture with Sanyo Foods.

STI ganed 0.2 % at 3442.45 with MSCI's broadest index shed 0.9 %.

Olam's shares gained 2.8 5 to S$1.82, a highest since November 2012.

Units of Fortune Real Estate Investment Trust (REIT) up with 5.2 % to a record high at S$8.24. The company posted a first-quarter net profit of HK$153.3 million ($19.76 million), up 16.3 percent from the previous year.

STI Up with Olam's 6 month High

STI rise up 0.6 % at 3433.96 other side MSCI's broadest index also gained 0.2%.

Olam International Ltd's shares gained up with 2.6% to S$1.77, a high value since Nov 12. Singapore palm oil company Wilmar International Ltd gained up a 23 % up in first-quarter net profit.

Sembcorp Marine Ltd's equities also rise up with 2.1% to S$4.44, the highest since April 3, 2012.

Ezion Holdings Ltd, a Singapore-based offshore service provider, said its net profit for the first three months of the year more than tripled. The company's share price rose more than 2 percent to a one-month high of S$2.19.

STI @ 5.5 Year High

SGX shares rise up by Wilmar International Ltd's come up on market estimates.

The STI up on 0.9% at 3412.18 pts with better growth since Jan 2008's 3413.5

Wilmar keep top gainer with 4.2 % to S$3.45, its highest since April 4.

SGX Market News

INSTRUMENT LAST PCT CHG NET CHG

S&P 500 1617.5 0.19% 3.080
USD/JPY 99.26 -0.07% -0.070
10-YR US TSY YLD 1.7571 -- -0.007
SPOT GOLD 1467.69 -0.08% -1.200
US CRUDE 95.76 -0.42% -0.400
DOW JONES 14968.89 -0.03% -5.07
ASIA ADRS 143.66 -0.09% -0.13

MARKET NEWS
> Nikkei up 2.8 pct to pass 14,000 after U.S. jobs data
> S&P 500 closes at record again; financials, Apple lead
> Bond yields at three-week high ahead of auctions
> Euro tripped by ECB, Aussie eyes rate decision
> Gold eases in low volume, ETF outflows in focus
> Oil up over $105 per barrel on Mideast tensions
> Key political risks to watch in Singapore

GLOBAL MARKETS-Asian shares steady on higher Wall Street
SE ASIA STOCKS-Mostly up; Malaysia at record high after election

STOCKS TO WATCH
-- DYNAMIC COLOURS LTD, INTRACO LTD
- Intraco Ltd, a trading company that owns 39.48 percent of Dynamic Colours (DCL), has made a mandatory conditional cash offer for all of DCL's issued ordinary shares at S$0.185 per share.
-- OKH GLOBAL LTD
- Property and construction firm OKH Global Ltd, formerly known as Sinobest Technology Holdings Ltd, will begin trading from 9 a.m. (0100 GMT) on the Singapore Exchange.
-- HEALTHWAY MEDICAL CORP LTD
- Healthway Medical has proposed an additional distribution
in specie to shareholders of up to 675,324 shares, representing
up to 3.38 percent of the healthcare services group.

Index Up, COSCO Crop on 4yr Low : SGX Live Stock

SGX shares come up on Monday with positive repose US investor, Beside it COSCO Crop get lowest level earning since 4 years.

The STI gained 0.4% to 3383.25 and MSCI's broadest index came up 0.9%.

COSCO Corp Ltd' equities get down more than 6 percent to S$0.815, just after company posted a 65 % down in first-quarter net profit. But it is keeping a "sell" rating with an unchanged target price of S$0.73.

Its downgraded time for Genting SGX Stock

SGX shares drop down now, after touching 5 year high level. Genting Singapore PLC drop heavly in more after 3 years.

STI was down 0.7% at 3378.60, with this MSCI's broadest index come up 0.3%.

Genting Singapore PLC's equities fell down up to 9% to S$1.47, with just company shows 44% drop in profit on core earnings. It was actively traded on friday with target price to S$1.41 from S$1.52.

STI Up with DBS Profit

SGX Shares keep up 5 year high with DBS Group Holdings gain up 4 %. Its a huge gain after 3 years.

STI received 0.9% gain to 3401, beside it, MSCI's broadest index fell down with 0.3%.

DBS Equities gear up 5% to S$17.59, peak value til May 08. DBS received profit of S$950 million, which 2% high with previous year.

Genting Singapore Plc's shares also rise up 4.23 % to S$1.64.

STI scored 5 year high with US Stock : SGX Live

STI rise up 0.6% at 3382, highest since Jan 2008. 

It's parallel come with US Stock that also get record high in last season. 

MSCI's broadest index also get 1% up.

Chinese Banking Corp was traded same level at S$10.92, get 16% down fall from S$11.07 last week. 

Aussino Group Ltd's shares rise up 7% to S$0.107.

STI gets up with CapitaLand leads : SGX Stock Live

SGX shares come up with the leading performance by CapitaLand Ltd. CapitaLand gained strong first-quarter results.

The STI gets up 0.2% at 3354.34, a high value since 2008. That is also same with MSCI's broadest index.

CapitaLand Equities is now top traded stock, it gained 3.3% to S$3.77 highest since Mar 7. Genting Singapore PLC's shares also rise up as 2.6% to S$1.56. Its second-most traded stock.

STI 5-year peak, Capital-Land boost stock market

SGX shares on 5 year peak, with Capital-Land's gain boost stock market on Friday.

STI grew up 0.2% at 3342.74, a peak value since Jan 2008. Besides it MSCI's broadest index also gain 0.2% higher.

CapitaLand Equities really perform well, they gained 2.5 percent to S$3.67, high pt since Mar 8.
Singapore Telecommunications Ltd Equities fall 1.6% to S$3.72, just by make Singtel share Barclays Premier League content with StarHub Ltd.

Genting Singapore's shares also keep up value 2.7 % of S$1.52. Genting Singapore was activly traded in SGX stock market with 21M shares get up n down in hands.

STI on 4.5 year high with Genting's gains

SGX Shares rise to a 4.5 years up, With Genting's gains. STI Index get up 0.3 % at S$3332.54 pts, MSCI Index also on gain of 0.7%.

Genting Equities rise up 4.2% to S$1.485, its a peak value from April start. It was most traded stock. Bank of America-Merrill Lynch gear-up Genting Singapore to "buy" from "neutral" and raised its target price to S$1.81 from S$1.63.

Index Level Up with REITs High Value : SGX Stock Live

With high peaks of REITs, SGX equities level up their values on Wednesday.

STI get 0.3% up at 3,295.03, on other-side MSCI's broadest index gained 1%.

REIT get up 0.7 % at S$1.41 just after healthcare real estate investment trust announcement of its distribution per unit rise up 9.4 % as-per last year value. In Mar 2013, REIT holdup two hospitals in Indonesia with S$190.4 million.

Another news of MapleTree Industrial Trust, it rise up 1.6 percent to S$1.585 with max level till 2010. It adds that distribution per unit rose 6.8 percent to 2.37 Singapore cents from a year earlier.

F'N Down, Index remain same : SINGAPORE STOCK LIVE

SGX Equities remain constant, while Fraser and Neave Ltd down towards its six month lowest value, as-per trading on Monday .

Finally ST Index keep constant value, where as MSCI up with 0.2 % of its value. F'N Equities down 5.5% to S$8.88.

F'N commented it has until July 19 to restore its public float.

Thai Bev PLC, hold 30% F'N stock, rise up 4.4 % to S$ 0.59, that keep better way in SGX market.

Its stated that without Tahi Bev, F'N share price will keep fall. F'N share price give 1 to 4 Singapre cents on Thai Bev's sum-of-the-parts valuation

SGX Index down with Keppel Corp

SGX keeps falling status. Its Shares down little more on today. Keppel Corp Ltd suffers 3 Month low parallely with world's largest offshore oil rig builder's drop.

The STI was record droped 0.1% at 3293.40 points. Beside it, MSCI index get gained 0.6%.

Keppel Corp's Equities down upto 2% with S$ 11.03, lowest since Jan 2013. It get changed with 4.3 million shares hand by keeping top traded stock with value.

Keppel Corp noticed 56% drop in her net profit with a year before S$331million. Brokers are bulllish on it and kept as buy ratings.

With the pressure of competitive aspects, Keppel Corp's solid position re-force confidence. It predicted thst raising its target price to S$12.85 from S$12.80.

SGX Boost in 3Q 2013 with 5 Years Highest, Index Up

SE recorded its strongest quarter in 5 Years by receiving a boost from strong trading activities. The securities trading and clearing revenue of S$ 75m grow 15%yoy as securities Advt S$1.7Bn grew 17.6 % yoy with 4 % increase in clearing yield by a huge amount of uncapped traders.

After a long down, SGX shares come back to rise, Keppel Land rise up by its deal with a property developer in China. It announced that it had joined in a strategic partnership with China Vanke Co Ltd to develop properties in Singapore and China.

The Strait Times Index grow up 0.2% to 3296.23. MSCI also get 0.2 % growth. Keppel Land's equities came up 1.5 % to S$ 4.03 on this Wednesday.

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Index downs with poor data from US, China

SGX equities down as poorer then proposed data from US and China reviews about global economy. The Straits Times Index with 0.3 % down at 3284.63 points, otherside MSCI's broadest Index shed 1.3%.


China stated that its economic recovery grown up in first three months of 2013, while US data shows that consumer spends poorly in first Q 2013.The Decline in SGX stock was about 15% on this Monday. Its was poorest value. OUE gains 1.3% with S$3.03

SingTel Brings hope for RiseUp Stock : SGX News

SGX shares gained up after 3 continues losses, that are boost with US earnings season.

Straits Times Index was on 0.6 % high at 3304.84 points, but MSCI just rose 0.8 %.

Alcoa Inc from US, aluminium producer get up increase in profit on 08 April, its due to last 3 month results of the company in 2013.

The Good news is that SingTel get leads of gainers, with 1.9% to S$3.68. Its highest since June 2008. Today it actively traded stock.

A trader adds “The rise in share prices may be due to SingTel's participation in the bidding of mobile phone license in Myanmar,” with lot of interests.

Singapore-listed Yoma Strategic Holdings Ltd also said on Thursday it has joined a consortium led by the Digicel Group to bid for one of two mobile phone licenses that Myanmar is expected to award later this year.

Yoma shares added as much as 1.9 percent to S$0.785, gaining 5.4 percent after the bid announcement.

With Thai firm, BreadTalk rise up High : SGX Stock

Equities in BreadTalk Group Ltd keep gain till 5th day and come up a high, with a unit of Thailand's hospitality and leisure group Minor International PCL (MINT) gains its stock value.

BreadTalk Group Share gained 8% with S$1.085. Its also traded by 1.4 M shares, with 1.4 times on average day value.

A 27.6 % profit get by them as primary investment. MINT bought 7.25 M shares at mean value of S$0.83 per share, growing up its stake to 8.85% in March 2013.

"BreadTalk offers MINT an better ways for its cross-selling channels, as well as an opportunity to strengthen and add prominent brands to its growing overseas portfolio," Maybank Kim Eng said in a report last week.

Maybank told that BreadTalk's current valuations are below its peers with a forward consensus price/earnings ratio of 15.6 times against 16.5 times.

"One reason may be MINT believed that BreadTalk's profits are understated by its expansion costs and the stock will look cheap once the expansion phase slows," Maybank said.

Index on balance with Rigbuilders Weigh : SGX LIVE

With the increase in losses of world's two largest rigbuilders, Keppel Corp Ltd and Sembcorp Marine Ltd, SGX Equity keep small change.

Again Straits Times Index keeps fix value, whereas MSCI's broadest index down with 0.2%.

On tuesday, Keppel Corp was well traded in SGX Market. Oil Rig Builder's shares down 1% og two month low of S$ 11.22. It keeps worst result now. Approx 3.9 Million Equity were traded over last 30 Days.

There was also underperformed role in market by Keppel's rival Sembcorp Marine. It keep 16 % of S$4.40, the lowest in a month.

"The drop in share prices could be seen as the profit-taking phase for the offshore and marine sector," a trader said.

Index Static, CapitaLand Rise up 1 Week High

SGX Equities got slightly change, as Investors focused on debt by Cyprus & deteriorating economic activity in the euro zone.

On Today, Straits Times Index as well as MSCI index remain static.

CapitaLand Ltd, Properyt Developer, performed well and traded widely by Friday value onwards. Equity gain 2% to a 1 week high about S$3.57.

Nomura inform that "Based on buyers' response to the new launches in March so far, it appears the latest measures have yet to dampen buyers' interest in the pre-sale market. There is scope for more policy changes, given the pre-sale market is still relatively robust. We expect secondary transaction volume to remain relatively low."

Its top pick among the developers is CapitaMalls Asia Ltd , while it remain cautious on City Developments Ltd.