Stocks in focus:
* Offshore sector:
i) Keppel Corp finalized the US$1.2b price tag on the 2 semisubs it agreed to build for Naftogaz of Ukraine (announced two wks ago). Price is within Street expectations.
ii) SMM confirms accident at Jurong Shipyard which involved 89 personnel (see our 4.49pm post yday).
iii) Yangzijiang makes foray into the offshore space with maiden jackup order worth US$170m, and another order to design and build an SSP unit for SSP Offshore.
* Geo Energy: has been receiving plenty of enquiries during its trading halt; the stock resumes trading today and will see famous investor Jim Rogers as its new Non-Executive Director.
* Olam: plans a bonds/ warrant issue worth US$1.25b, with support from Temasek
* MCT: makes maiden acquisition since listing with purchase of Mapletree Anson for $690.2m
* TA Corp: makes foray into the real estate devt sector in Thailand through a JV with Thai partners, for the proposed devt of a mixed use devt near Bangkok as its maiden project.
Tuesday, December 4, 2012
Singapore market (04 Dec 12)
Singapore market: The end of day downward reversal in the US markets last night may cast a pall on trading in Singapore this morning. The US market initially opened higher, but erased gains as the ISM’s manufacturing index unexpectedly fell below 50 (the threshold signaling growth), providing confirmation to some market watchers that the fiscal cliff concerns are actually affecting decision making at the business level. The Republicans and Democrats continue to argue on how best to solve the fiscal cliff issues.
In the region, KOSPI and Nikkei are both down 0.5% at 8.08am.
Technically, the near term direction for STI looks uncertain still. The index touched the 3,087 resistance level yday but subsequently turned back down to close lower. The rise in RSI and Stochastics also appear to be slowing down. The odds favor a slight pullback for the STI to cover the 30 Nov gap, before moving higher again. Watch for the break of the 3,087 resistance, as that would be a positive signal for the STI to quickly test the Oct ’12 high of 3,111.
Stocks in focus:
* Offshore sector:
i) Keppel Corp finalized the US$1.2b price tag on the 2 semisubs it agreed to build for Naftogaz of Ukraine (announced two wks ago). Price is within Street expectations.
ii) SMM confirms accident at Jurong Shipyard which involved 89 personnel (see our 4.49pm post yday).
iii) Yangzijiang makes foray into the offshore space with maiden jackup order worth US$170m, and another order to design and build an SSP unit for SSP Offshore.
* Geo Energy: has been receiving plenty of enquiries during its trading halt; the stock resumes trading today and will see famous investor Jim Rogers as its new Non-Executive Director.
* Olam: plans a bonds/ warrant issue worth US$1.25b, with support from Temasek
* MCT: makes maiden acquisition since listing with purchase of Mapletree Anson for $690.2m
* TA Corp: makes foray into the real estate devt sector in Thailand through a JV with Thai partners, for the proposed devt of a mixed use devt near Bangkok as its maiden project.
Stocks in focus:
* Offshore sector:
i) Keppel Corp finalized the US$1.2b price tag on the 2 semisubs it agreed to build for Naftogaz of Ukraine (announced two wks ago). Price is within Street expectations.
ii) SMM confirms accident at Jurong Shipyard which involved 89 personnel (see our 4.49pm post yday).
iii) Yangzijiang makes foray into the offshore space with maiden jackup order worth US$170m, and another order to design and build an SSP unit for SSP Offshore.
* Geo Energy: has been receiving plenty of enquiries during its trading halt; the stock resumes trading today and will see famous investor Jim Rogers as its new Non-Executive Director.
* Olam: plans a bonds/ warrant issue worth US$1.25b, with support from Temasek
* MCT: makes maiden acquisition since listing with purchase of Mapletree Anson for $690.2m
* TA Corp: makes foray into the real estate devt sector in Thailand through a JV with Thai partners, for the proposed devt of a mixed use devt near Bangkok as its maiden project.
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