SG Market

SG Market: S’pore shares are likely to fall, tracking overseas market losses amid concerns Greece's political impasse may force a euro-zone exit. While markets have already priced most of this in, there is is plenty more downside risk from the fears of contagion for other weak eurozone economies, namely Spain and Italy. If 2850 support on the STI breaks, 2785 may be the next floor. Among stocks likely in focus, *STX OSV: 1Q12 results slightly below forecasts, net profit -13% yoy to Nok269m, or $57.1m, revenue -12% to Nok2.8b *First Resources: 1Q12 results in line, net profit +60.2% to US$49m, revenue +81.7% to US$164.9m *Global Premium Hotels: 1Q12 net profit +46.9% yoy to $6.4m, revenue +28.8% to $14.9m *Fragrance Group: 1Q12 net profit +54.8% yoy to $22.1m, revenue +81.8% to $94.3m, NAV $0.246 *ComfortDelgro: 1Q12 results broadly in line, net profit +6.8% yoy to $53.5m, revenue +6.5% to $855.4m *Cordlife: 3Q12 net profit -57% yoy to $832k, revenue +13% to $6.9m *Yanlord: 1Q12 results missed estimates, net profit -49% yoy to Rmb135.6m, revenue -84% to Rmb466m *Ying Li: 1Q12 results turned around from Rmb4.2m loss to net profit of Rmb5.5m, revenue +303% to Rmb121m *Midas: 1Q12 net profit -74.7% yoy to Rmb15.3m, revenue -22.3% to Rmb230.4m *Li Heng: 1Q12 net profit -65.2% yoy to Rmb11.3m, revenue +18% to Rmb987.6m *ThaiBev: 1Q12 net profit +46% yoy to Bt4.3b, revenue +31% to Bt40.6b