Singapore shares could open higher, with the S&P 500 capping its best weekly gain in 2015 last Fri, as markets were buoyed by solid earnings from retailers, while the recent FOMC minutes suggest that the economy is robust enough to withstand a gradual rate hike.
Regional bourses are trading higher this morning in Tokyo (+0.1%), Seoul (+0.5%) and Sydney (+0.4%).
From a chart perspective, technical indicators are in oversold. Near term resistance is tipped at its 50-dma at 2,940, with underlying support at 2,850.
Stocks to watch:
*NOL: Controlling shareholder Temasek has entered into an exclusivity agreement with France's CMA CGM on a potential acquisition of NOL. The exclusive deal is valid till 7th Dec ’15. NAV/share at $1.37.
*Sinarmas Land: Exploring a spin-off of its Indonesian investment properties into a REIT, with tax benefits likely to be a key determinant on whether the REIT will be listed in Singapore or Jakarta. All of Sinarmas Land’s properties and assets are held at historical cost on its balance sheet. NAV/share at $0.58.
*Noble: Fitch Ratings has affirmed Noble’s liquidity position, although the agency cautioned that any weakening in Noble’s position could result in negative rating actions.
*KS Energy: JV between 80% owned subsidiary, KS Drilling and PT Java Star Rig was awarded the "KS Java Star" jack-up drilling contract, with an expected value of US$2.8m (S$4m). Work is expeted to commence on Dec ’15.
*TEHO International: Granting an option to Teco Electric & Machinery to acquire a $14.4m single storey warehouse at 47 Tuas Avenue 9. The leasehold property has a 30-year lease commencing 1 May 1991, with an option to renew another 30-years.
*Ban Leong Technologies: Divesting Audion Innovision to Mercurial Capital as the subsidiary has been loss making since FY11 and operating environment in Australia is expected to remain challenging. The divestment consideration will be based on values of inventory and fixed assets of Audion as at 31 Dec ‘15, as well as values of its intangible assets on 30 Sep ‘15.
*Roxy-Pacific: Acquiring a 13,491sf freehold residential site at Lot 2723M Mukim 23 at No. 180A Jalan Eunos, Singapore for residential apartment development. The purchase price of $10.1m will be funded via a mix of internal funds and bank borrowings.
*KOP: Entered into agreement to incorporate a 60% JV with Shanghai LuJiaZui and Shanghai Harbour City Development to develop Winterland, which involves an estimated total investment of Rmb3b in Shanghai. The development will have total GFA of 320,000 sqm, comprising an indoor ski park, hotel, retail and F&B establishments. Completion is expected between 2019-2020.
*Z-Obee: Sacked its chairman, Wang Shih Zen, enforcing a bye-law that removes a director from office once they are declared bankrupt.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment