Morning highlights:
** Property sector: New cooling measures introduced after market close yday. Expect knee-jerk reaction in share prices of residential developers. More to follow.
* Offshore & marine: Credit Suisse upgrades sector, says order momentum should continue to drive the re-rating. Likes high beta names like SMM (raise TP to $6.10 from $5.50), Keppel Corp (raise TP to $13.50 from $12.10). Also favors SCI, NOL, Noble, Yangzijiang.
* China Gaoxian: KDR priced at $0.405 vs $0.445 at last close. Co initially targeted to price its KDR listing at a premium.
* Renewable Energy: 49% JV secures a concession to develop a 49.5 MW wind farm in Jiangsu province, estimated to cost RMB 500m.
* Raffles Education: to acquire Merchant Square for $65m, which will function as a permanent place of business when the current rental premises expire. Separately a mgt call reveals plans for the company’s entry into China property development
* SATS / SIA Engrg: may see interest as the award of the tender for the 3rd ground handling contract at Changi Airport tipped to be announced within the next mth.
* Starhub: secures non-exclusive broadcast rights to the Italian Serie A football content, and will start screening the 2010-12 seasons on its cable TV platform.
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