SG Market: Spore stocks likely to open mixed with interest centred round events driven stocks. Top on the list is Genting HK, which announced that it has plans to list its 50% owned cruise operator NCL to raise US$250m. Separately, Royal Caribbean Cruises surged some 13% overnight on the back of positive earnings guidance with pax bookings recovering & new vessels performing exceptionally well. XinRen Aluminium will make debt today with likely opening price ~$0.65 vs $0.55 IPO price.
Other news:
* Suntec Reit reported 2.502¢ DPU for 3Q, buying 1/3 stake in Phase 1 of MBFC for $1.5b or $2,400 psf excl income support. Acqn will boost DPU by 2-3%, gives Suntec foothold in Marina Bay corridor & increases office portfolio to 2.4m sf from 1.9m sf. Citigroup keeps Buy rating & raises target price to 1.69 to $1.56
* Frasers Centrepoint Trust reports 4Q DPU of 2.16¢, up 6% yr ago, taking total DPU for FY10 to 8.2¢ (+9%). This translates to 5.5% yield. Acquiring Bedok Point mall by 2Q11
* Thomson Medical: 4Q net profit $4.04m +18.5% yoy
* Mercator Lines: flat 2Q net profit US$10.3m despite revenue jump as costs spike
* Yongnam secures MRT Downtown Line 2 contracts valued at $56.5m
* OKP secures $22m from PUB to raise a part of Orchard Rd
* Oriental Century proposed reverse takeover in restructuring falls through
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