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)

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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.

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.

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 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.

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 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.

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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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.