MARKET WATCH 17th AUG 2012 - AsianBookie.Com Forums

17-Aug 2012 Friday 12:59 PM (4272 days ago)

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STI         3,062      +1            +0.03%
DOW       13,250     +85          +0.65%
S&P         1,416       +10         +0.71%
FTSE        5,835       +1           +0.03%
DAX          6,996       +49         +0.71%
GOLD         1,619       -0            -0.03%
OIL             95.31       -0.29        -0.30%
PRE-HK OPEN   +163pts

CREDIT SUISSE GLOBAL RISK APPETITE (EQUITY) : -2.13
CREDIT SUISSE GLOBAL RISK APPETITE               :   -1.26

FAR EAST HOSPITALITY REIT : $0.93 - LnT RECOMMENDATION to Subscribe ( Read Daily review for details)

17 Aug 2012 08:56

DJ MARKET TALK: Singapore's STI May Stall; 3000 Support Tipped

0056 GMT [Dow Jones] Despite solid offshore leads, Singapore's STI may stall as players may take to the sidelines before the long holiday weekend and as they digest the recent rally. "Markets are a bit overstretched already. Macro-economic numbers still don't look good. Unless we see some signs of easing," says Kevin Scully, executive chairman at NRA Capital, "the market is likely to give up most of its gains," as they were in anticipation of further easing. He notes the results season is essentially over; "you are seeing indications from the corporate side that they are being affected by the slowdown in the EU and we are expecting more corporate guidance on the downside." He says the STI is probably near its upper limit, with a lot of the rise linked to FN (F99.SG) and OCBC (O39.SG) transactions he tips longer-term support levels at 3000, 2900 and 2700. The STI ended Thursday up 0.8 point at 3062.89, leaving chart-readers with a doji. Players may keep their powder dry, awaiting news after F&N and APB (A46.SG) requested trading halts. Swiber (AK3.SG) raised its Atlantis Navigation stake to 98.8%

17 Aug 2012 08:35

DJ MARKET TALK: Swiber May Outperform;Buys Additional Atlantis Stake

0035 GMT [Dow Jones] Swiber (AK3.SG) may outperform, partly on a sentiment fillip from crude oil prices' continued climb and after it announced it acquired 49.5% of Atlantis Navigation for US$18.3 million, bringing its total stake to 98.8%. Atlantis, an investment holding company, owns two vessels. "It's not very surprising," an analyst says, noting management earlier mentioned its desire to increase its stake in the company. She expects the deal will "quite likely" boost Swiber's earnings if its performance continues. Another analyst notes the deal "will probably help them in reducing their chartering costs." She notes the funding shouldn't be an issue. The stock ended up 2.5% at S$0.61. The stock may find near-term resistance around the S$0.70-zone, levels last touched in March; initial support may come around S$0.58-S$0.59, where its 10-day and 100-day moving averages and 200-day exponential moving average cluster

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17-Aug 2012 Friday 1:02 PM (4272 days ago)

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17-Aug 2012 Friday 1:05 PM (4272 days ago)

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|MARKET PULSE: Dyna-Mac, Bumi Armada, UEEC |
|----------------------------------------------------------------------------------------------------------------------------------------------------|
| 17 Aug 2012|
|----------------------------------------------------------------------------------------------------------------------------------------------------|
|KEY IDEA |
| |
|Dyna-Mac Holdings Ltd: Ramping up production |
|Dyna-Mac Holdings Ltd (Dyna-Mac)’s 2Q12 results improved significantly with a 145.7% QoQ jump in revenue to S$57.8m and a 82.6% QoQ increase in net |
|profit to S$6.1m. Management explained that the improvement was mainly due to faster revenue recognition as its projects proceeded into the middle |
|stages. The group has an order-book of S$203m and expects most of it to be recognized by year-end. We updated our model for the 2Q12 results and as |
|we roll forward our projections to FY13F, our fair value estimate increases to S$0.52 (previously S$0.45). Maintain BUY. (Chia Jiunyang) |
| |
| |
|MORE REPORTS |
| |
|Bumi Armada: 2Q results below expectations |
|Although Bumi Armada Berhad (BAB) reported a 52.6% YoY increase in 2Q net profit to MYR91.9m, the results were generally below ours and the street’s|
|expectations. 1H12 net profit attributable to shareholders was MYR182.6m and formed only 40% and 33% of ours and the street’s full year estimates. |
|With the uncertainty in the global economy, oil companies have turned more cautious and have delayed the awards of FPSO contracts. This has |
|inevitably affected BAB (and other FPSO operators). We now cut our two FPSO wins per year assumption to just one for FY12-13F, and lowered our |
|FY12-13 EPS by 9-16%. Accordingly, our fair value estimate decreases to MYR3.36 (previously MYR3.57). Maintain HOLD. (Chia Jiunyang) |
| |
|UE E&C: Construction pace picking up |
|UE E&C’s 2Q revenue and net profit increased by 51% and 62% QoQ to S$85.5m and S$6.4m respectively. The construction pace hastened in 2Q and we |
|expect it to pick up further in 2H12F as most of its development projects (i.e. Austville) are now substantially sold. Operating margin improved to |
|10.5% (1Q12: 7.0%), but remains within the typical range of 7-12%. The group needs to quickly replenish its order-book (est. S$400m) as the majority|
|of its existing construction and engineering projects are due for completion within a year (by Aug 2013). We continue to like UE E&C for its |
|disciplined approach in project bidding and believe it is well-positioned against recession risks. Maintain BUYwith unchanged fair value estimate of|
|S$0.71. (Chia Jiunyang) |
|----------------------------------------------------------------------------------------------------------------------------------------------------|
| |
|For more information on the above, visit www.ocbcresearch.comforthe detailed report. | |----------------------------------------------------------------------------------------------------------------------------------------------------| | | | | |NEWS HEADLINES | | | |- Both Fraser and Neave and Asia Pacific Breweries have requested for a trading halt in their shares pending the release of an announcement. | | | |- The deal value of global technology M&A slipped 43% to US$33.4b in 2Q12, from US$58.3b a year ago, according to a study by Ernst & Young. | | | |- Tycoon Goh Cheng Liang is offering S$0.14 per share in cash to take Superior Multi-Packaging private, valuing the company at S$51.8m. | | | |- Moody's Investors Service downgraded the senior unsecured ratings for both SingTel and its Australian unit Optus Finance Pty Limited. | | | |- Otto Marine has clinched a US$10m time-charter contract for its maintenance and construction/ accommodation support vessel, Seasafe Supporter. | | | |- Swiber Holdings Limited will be acquiring a further 49.5% interest in Atlantis Navigation AS for US$18.3m. | | | |- Marina Bay Financial Centre has signed on new tenants at its Tower 3 office building, raising its overall commitment level to over 70% to 890,000 | |sq ft. | | | |- Far East Organization has priced the sale of its Far East Hospitality Trust at S$0.93 per stapled security, representing the top of the indicated | |S$0.86-S$0.93 range.

AsianBookie Tipsters Championship
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17-Aug 2012 Friday 1:06 PM (4272 days ago)

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AsianBookie Tipsters Championship
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17-Aug 2012 Friday 1:07 PM (4272 days ago)

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Today’s Focus

§ STI target rolled forward to 3200 based on 13.3x (-0.5SD) FY13F earnings

§ Top slice yield plays – CMT, CCT, Cache, CDL HL, SingTel & Starhub

§ Switch to cyclicals ASL, Ezion, STX OSV and bombed out stocks Tiger, Yangzijiang

AsianBookie Tipsters Championship
Member of Team:
AB Charity
(Est. Apr 2012)
Team Ranked: #17 - Team Score (Top 50 Members): AB$ 7,179,375 Total Members: 122

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