SG Market (23 Mar 16)

SG Market: Singapore shares may continue to consolidate within a tight range amid overbought conditions and lack of fresh impetus.

Regional bourses opened mixed in Tokyo (+0.3%), Seoul (-0.1%) and Sydney (-0.6%).

From a chart perspective, the STI appears bounded between 2,830 and 2,900.

Stocks to watch:
*StarHub: Investing $18m or 44m new shares at $0.41 each for a 9.05% stake in mm2Asia to expand its pay-TV offerings and presence beyond Singapore. The local film and content producer has co-produced and distributed more than 50 films since 2008.

*Noble: Chairman Richard Elman surmised that the direction of the commodities market is difficult to determine, and guided that it is time to shelve grand plans, and focus on survival.

* ISDN: Proposes to seek a secondary listing in the Stock Exchange of Hong Kong by way of introduction, to enhance its profile in Hong Kong/China.

*SMRT: Launching probe into the MRT accident yesterday that cost the lives of two of its employees.

*Boardroom: Entered into a strategic agreement with Omni Market Tide to provide mobile investor relations platforms to listed companies in Singapore and Hong Kong. The agreement includes scope to work together in Taiwan, Indonesia, Malaysia, Japan and China.

*Excelpoint: Launched an e-commerce platform for two of its product lines (analog devices, microchip) totaling 50,000 products. The platform supports mobile devices, and delivery can be made within Hong Kong and China.

*EuroSports Global: Acquiring Ultimate Drive and Driven by Adrenaline, which are in the short-term rental of premium sports cars (up to two hours), for $535,000.

*Hai Leck: Unveiled eight machines that can automate processes in the process, construction and maintenance industry after an investment of more than $20m since 2009.

*Singtel: Increased its stake in HOPE Technick from 18.7% to 21.3% for $0.7m. HOPE provides engineering solutions for commercial and government customers.

*Aspial: Launched a 4-year 5.3% bond offering with a public tranche of $50m and a placement tranche of $25m.

*Soilbuild Business Space REIT: Assigned a Baa3 credit rating by Moody's, with a stable outlook to the REIT.