SG Market (25 Mar 13)

SG Market: S’pore shares are set to enjoy a mini rebound, tracking the firm close on Wall Street and on latest news that Cyprus and the so-called troika of EC, ECB and IMF have an agreement on a bailout package that is currently being presented to eurozone finance ministers in Brussels. The STI needs to reclaim back lost ground above the 20 and 50-dma at around 3270 level for the market to be on more solid footing, else expect further slide to next support at 3230. Stiffer overhead resistance seen at 3320. Stocks to watch out for: *Mapletree Logistics Trust: Sells Woodlands Loop property to Advanced Holdings for $15.5m. MLT expects $5m net disposal gain, which will be distributed to unitholders, subject to tax treatment. *Tiger Airways: Carrier will consider whether to continue with its loss-making Aussie operations if its bid to sell 60% stake in Tiger Australia to Virgin Australia fails to secure regulatory approval. *IEV: Ventures into renewable energy with a biomass production project in Vietnam. *Sinotel: Recovered the last of remaining Rmb31.3m lost to fraud.