Local corporate news flow is dry today.
* SGX: Nov avg daily turnover at $1.3b, +8% yoy, daily volume at 2.1b shares, +77% yoy, although overall turnover velocity languished at 48% vs 52% yoy and 43% in Oct.
* Keppel T&T: ventures into Indonesia’s logistics services industry with Puninar Logistics via a 49/51 JV co.
* Wilmar: MAS fined executives Goh Ing Sing (Group Plantation Head) and Keu Haw Gee (Plantation Head) for insider trading offence committed in 2010 with regard to co’s acquisition of a 20% stake in Kencana Agri. Nevertheless, Wilmar has decided to retain the services of both men.
* HG Metal / Cambridge: HG Metal enters into sale and leaseback agreement with Cambrdige Reit for its Jurong Port Road property with 245,172 sf gfa. HG Metal will sell the asset for $43m and lease the facilities for a 7yr fixed term with initial rent at $3.6m pa, subject to escalation on the 3rd, 5th and 7th yr of the term.
* TA Corp: secures $116.7m construction contract to design and build a residential condo project with >400 units. Construction is expected to start in 1H13 with completion by 2015. Orderbook now stands at $486.5m.
Wednesday, December 5, 2012
Singapore market (05 Dec 12)
Singapore market: Fiscal cliff concerns in the US continue to dog markets in Asia. Expect a drag at the open today, in line with the weaker US market overnight.
In the region, KOSPI is -0.1%, while Nikkei is -0.3% at 8.27am, with auto makers further hit by some weak China sales data.
Technicals for STI suggest continued range bound trade, btwn 3,027 and 3,087, after the index failed to breakout of the ceiling of the trading range. The indicators have started to hook downward, which suggest a temporary stall in the index’s rise since mid last month.
Local corporate news flow is dry today.
* SGX: Nov avg daily turnover at $1.3b, +8% yoy, daily volume at 2.1b shares, +77% yoy, although overall turnover velocity languished at 48% vs 52% yoy and 43% in Oct.
* Keppel T&T: ventures into Indonesia’s logistics services industry with Puninar Logistics via a 49/51 JV co.
* Wilmar: MAS fined executives Goh Ing Sing (Group Plantation Head) and Keu Haw Gee (Plantation Head) for insider trading offence committed in 2010 with regard to co’s acquisition of a 20% stake in Kencana Agri. Nevertheless, Wilmar has decided to retain the services of both men.
* HG Metal / Cambridge: HG Metal enters into sale and leaseback agreement with Cambrdige Reit for its Jurong Port Road property with 245,172 sf gfa. HG Metal will sell the asset for $43m and lease the facilities for a 7yr fixed term with initial rent at $3.6m pa, subject to escalation on the 3rd, 5th and 7th yr of the term.
* TA Corp: secures $116.7m construction contract to design and build a residential condo project with >400 units. Construction is expected to start in 1H13 with completion by 2015. Orderbook now stands at $486.5m.
Local corporate news flow is dry today.
* SGX: Nov avg daily turnover at $1.3b, +8% yoy, daily volume at 2.1b shares, +77% yoy, although overall turnover velocity languished at 48% vs 52% yoy and 43% in Oct.
* Keppel T&T: ventures into Indonesia’s logistics services industry with Puninar Logistics via a 49/51 JV co.
* Wilmar: MAS fined executives Goh Ing Sing (Group Plantation Head) and Keu Haw Gee (Plantation Head) for insider trading offence committed in 2010 with regard to co’s acquisition of a 20% stake in Kencana Agri. Nevertheless, Wilmar has decided to retain the services of both men.
* HG Metal / Cambridge: HG Metal enters into sale and leaseback agreement with Cambrdige Reit for its Jurong Port Road property with 245,172 sf gfa. HG Metal will sell the asset for $43m and lease the facilities for a 7yr fixed term with initial rent at $3.6m pa, subject to escalation on the 3rd, 5th and 7th yr of the term.
* TA Corp: secures $116.7m construction contract to design and build a residential condo project with >400 units. Construction is expected to start in 1H13 with completion by 2015. Orderbook now stands at $486.5m.
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