SG Market: Spore shares are likely to track overnight weakness on Wall Street, to extend their consolidation into a 3rd straight session. With the STI market still very much in overbought territory & weighed by fresh concerns from Japan over its stricken nuclear reactors, the market is expected to head towards support at the 3120 region.
A break of that key support may take the index down to 3080, where both the 20 & 50-day MAs are converging. On the upside, resistance will be met at 3187 followed by 3220. Watch for Keppel Corp. (BN4.SG), which may gain after saying late Tuesday its unit got offshore and marine contracts worth S$240 million in total.
Stocks in focus:
*KepCorp secures $240m worth of contracts from SBM Offshore & Petrofac, taking total orders clinhed so far this yr to $4.9b & putting it on target to exceed record $7.4b orders achieved in 2007.
*Cosco wins another tender barge contract from Seadrill, valued at est US$65m. The new unit, T17, is scheduled for delivery in 1Q13.
*Lian Beng more than doubles 9MFY11 net profit to $36.6m on 58% growth in revenue to $380m.
*UE awarded tender for 18.6k sqm land at Bendemeer Rd/Whampoa East for $543m by HDB. The 99-yr site is within walking distance from Boon Keng MRT & can be developed into a waterfront condo of 700 units.
*TTJ Intl has secured $29m worth of contracts, boosting its order book to $169m. The contracts comprise of a $25m contract to construct a new ITE HQ in Ang Mo Kio, steelworks in Samsung-Tiong Seng's JV Connexion project & replacement of a shiplift system.
*HPH Trust - Stabilising activities has ceased as over-alloted 540m units have been fully utilised as of 12 Apr 2011
*UFS auditors flags net loss of US$47.2m & co is in net current liability position of US$62.1m.
No comments:
Post a Comment