SG Market (05 Mar 13)

SG Market: S’pore shares could mount a recovery from Mon's slump after positive Wall Street leads. The 50-day dma support level at 3240 for the STI remains key. With resistance at 3280. Investors will be tracking developments in post-election Italy, China's National People's Congress, and central bank meetings. Stocks to watch out for: *WE Holdings: Entered into JV agreement with prominent Myanmar businessman Nay Win Tun, of Ruby Dragon Group to explore potential petroleum, oil and gas and related resources business opportunities in Myanmar. *Noble: CEO disclosed that it has shelved its plans to list its agriculture unit and is committed to an asset-light strategy, highlighting it does not have a lot of biological assets. Group is optimistic about the US on its shale discovery and sees significantly better Argentina harvest this year but warns of negative crush margins in China. *Sino Grandness: Private placement of 28.5m new shares at $0.82/share, aiming to raise $22.7m, with $13.6m for capex and sales and marketing expenses for canned products and the balance $9m for working capital. *Tiger Airways: Raising $297m via a 1-for-5 rights issue at $0.47/share and 1-for-4 preferential offer of perpetual convertible capital securities to fund its expansion in Asia and strengthen its balance sheet. *BBR: Secured $61.6m worth of new contracts between Nov 12 and Jan 13, bringing orderbook to $1.02b with projects lasting till 2015. #CSC Holdings: Announced it has inked over $400m worth of deals so far this year. Orderbook stood at $240m as at 1 Mar, with the bulk of its projects due for completion in the next few quarters.