SG Market (31 Jan 13)

SG Market: STI resistance at 3280, support at 3230. Among stocks in focus: *STATS – 3QFY13 results in line with expectations with revenue +6.4% yoy to $471m and core net profit +7.6% to $47m *Tuan Sing – Strong set of results in 4Q12 with net profit jumping 214% to $79.1m, boosted by property development profits and $67.5m revaluation gains; DPS of 0.5¢. Stock trades at steep discount to NAV of $0.609. *Yoma – Reports 170% jump in 3QFY13 net profit of $3.7m on 32% rise in revenue from Myanmar property projects. *F&N – TCC Assets makes further share purchases and takes its stake in F&N to 50.92%, making its $9.55 offer unconditional, extends deadline for its takeover offer from 4 Feb to 18 Feb. *ST Engrg – Wins newbuild contract for 8 naval vessels for RSN with first delivery in 2016; contract size not revealed for confidentiality reasons. *Ausgroup – Secures additional A$15m per annum contract from Apache Energy *Del Monte – Joins growing list of Myanmar stocks to distribute packaged fruits, sauces, pasta and fruits drinks in Yangon, Mandalay and other key cities in Myanmar by end 2013. *SIA – Releasing 76 pilots on fixed-term contract pilots, citing pilot surplus on long haul flights, suggesting challenging times for the carrier.