SG Market (16 Jul 12)

SG Market: STI be taking another crack at the 3,000 resistance amid upbeat spillover leads from Wall Street and as earnings season kicks off. The earnings season will give a clearer insight as to how local companies are dealing with the sluggish global economy. But the real test for the STI is seen at the triple-top formation at 3,030. Among stocks likely in focus: *SPH: 3Q results slightly missed estimates with net profit -13.1% yoy to of $99.8m on 0.9% rise in revenue to $331.8m *Nera Tel: 2Q net profit rose 33.2% to $3.3m on 16.7% jump in revenue to $41.7m *Jaya secured US$84m contracts to deliver 2 AHTS *C&G Env secured a $36m BOT contract for a waste-to-energy plant in Thailand * M1 will be the first local telco to offer island-wide 4G smartphone and dongle coverage by end-3Q. *Keppel Land is partnering with CT Properties to develop a high-end Sri Lankan residential project to cost about $70m.