SG Market (18 Dec 15)

From a chart perspective, the STI is likely to continue to hovering around its current levels with immediate support at 2,810 followed by 2,800. Resistance is currently at 2,870 (20 dma).

Stocks to watch:
*Triyards: Announced orders worth US$45.5m, including construction for a scientific research vessel, slated for delivery Aug ’17, and two crew transfer vessels.

*SIA: Will be adding new capacity to cities such as Bangkok, Colombo and Milan in 2016 to cater to rising travel demand.

*Mencast: Renewed its service contract for another three years with a publicly owned oil company for environmental remediation services which includes a two-year extension option. In addition, it also revised another contract with the same client to expand scope of services and increased volume for the remaining term, which expires on 14 Mar '18. The two contracts are expected to generate $20m revenue over the next three years.

*Best World: Lost an appeal in Indonesia regarding FY08 income tax resulting in a payment of $0.8m which will have to be made in FY15.

*Mm2Asia: Acquiring a 70% stake in Millinillion for $0.4m to foray into the digital media and technology sector. Millinillion specialises in developing B2C mobile apps.

*Spackman: Its upcoming movie MASTER, has confirmed its main cast of Gang Dong-won, Lee Byung-hun, and Kim Woo-bin. MASTER is directed by Cho Ui-seok, who helmed the movie COLD EYES (2013). The 2013 movie sold 5.5m tickets and was one of the top 10 films at the Korean box office for 2013. MASTER is expected to commence filming in 1H16.

*Singapore Myanmar Investco: Entered into a 50:50 JV with Japan-listed, Senco to provide logistics and warehousing services in Myanmar. It will invest an initial US$0.7m in the JVco.

*Courage Marine: Disposing MV Courage, a Panamax size vessel, to AHM, a scrapyard operator in Liberia, for close to US$2.5m.

*CMC Infocomm: Expects to report losses for 1H16 on substantial IPO fees as well as increased overhead expenses in Singapore and Malaysia.