SG Market: Singapore shares are likely to remain muted as investors seek positions in safe-haven sectors such as telecoms, consumer staples, healthcare and selected S-REITs.
Regional bourses opened in negative territory in Tokyo (-0.7%), Seoul (-0.6%) and Sydney (-0.5%).
From a chart perspective, STI remains bounded between its topside resistance at 2,900 and underlying support at 2,760.
Stocks to watch:
*Macro: Mar manufacturing PMI came in above expectations at 49.4 (est: 48.9, prior: 48.5), but remained in contraction mode for the ninth consecutive month.
*SPH Reit: 2QFY16 DPU of 1.4¢ (flat) came in line with estimates. Gross revenue and NPI grew to $53.1m (+1.2%) and $40.6m (+0.9%), respectively, driven by higher rental income achieved by Paragon and The Clementi Mall. Occupancy stood at 99.9% with WALE of 2 years, while aggregate leverage was maintained at 25.7% with average cost of debt at 2.84%. NAV/unit at $0.94.
*OSIM: Founder Ron Sim raised his privatisation offer price to a final $1.39, or 8.4x EV/EBITDA, from previous $1.32. Offer closing date extended to 25 Apr.
*Keppel Corp: Refutes allegations in foreign media reports that it was involved in a global oil bribery scandal embroiling Monaco-based oil company Unaoil.
*Keppel Corp: Divested 70% stake in serviced apartment building in Hanoi, Vietnam, for VND491.97b ($30.4m).
*GLP: Completed its planned syndication of a 65.66% stake in the US industrial assets portfolio for US$1.3b.
*Frasers Centrepoint: Sold a fully-occupied office building in Melbourne for A$45.5m to Blackrock Asset Management.
*SGX: Iron ore derivatives Mar trading volume hits a record high of 231.6m tons (+88% m/m; ~3x y/y), amid the recent volatility spike.
*Singtel: Australian arm Optus reported to cut as many as 480 jobs amid a revamp in consumer and enterprise divisions and sustainable growth.
*Hyflux: Secured new US$224m five-year revolving credit line to refinance an existing five-year US$200m facility.
*AIMS AMP Capital Industrial REIT: BBB- credit rating reaffirmed by S&P, with outlook stable.
*NauticAWT: Proposed to acquire a freehold land in Johor Bahru, Malaysia, for RM18m ($6.2m). The 6,586 sqm site is currently being rented by the group for production of its cementitious materials.
*Otto Marine: MOA to sell a work maintenance vessel for an undisclosed sum.