Morning Highlights

Singapore Market went soft today and opened low at 2685.41. We are observing the overall market performance now before we can identify the focus for today.

Our Focus For Today is On Commodity Sector 

Ezra (+5.0% dod, $2.09) popped on announcement yesterday that its construction arm EOC has won an initial $527 million six-year contract from Premier Oil to operate a production, storage and offloading vessel at the Chim Sao oil project in Vietnam. Premier Oil has an option to extend the contract for another six years for an additional $477 million (Bloomberg).

Surging 5% yesterday to its highest close in fifteen months, Ezra has not only outperformed the STI with its 207% gain this year, but also its offshore and marine counterparts this week. Here’s a look at how the company compares with the other offshore and marine plays’ share prices: (read more)

  • Ezra: +3.5% this week, +207.4% year to date
  • Ezion: +1.2% this week, +336.8% year to date
  • Cosco Corp: -3.3% this week, +29.2% year to date
  • KepCorp: -0.5% this week, +93.1% year to date
  • SembMarine: +0.3% this week, +110.7% year to date

Corporate Announcements (Warrants)

  1. In a separate announcement this morning, Ezra proposed an issue of convertible bonds with a yield of 4%/annum due in 2014, to raise US$100m. The initial conversion price will be S$2.50 per share but will be subject to changes in the later condition.
  2. Cosco Corp’s Dalian Shipyard has agreed to reschedule the delivery of 5 bulk carriers to a European ship owner. The delivery will now take place 15 & 23mths after their original delivery dates & the last delivery will take place by Dec 2012 instead of Sept 2011.
  3. Keppel Land announced 3Q09 net profits of $78.5mn, up 70% year-on-year.

News Updates:

  • Japan’s exports edged lower for the third consecutive month in September as a rising yen weighs on overseas shipments and as a rebound driven by global stimulus spending and the stocking of inventories starts to wane. As a result, Japan’s Nikkei average fell 0.8% today, dented by exporter shares such as Advantest Corp after US stocks slipped on a late sell-off in financial shares.
  • WASHINGTON – The International Monetary Fund said on Wednesday it was readying US$167.4 million in aid to Iceland, a second loan installment for the recession-stricken country 

Quick Picks: Here is a quick pick screen that we have designed to pick out potential stocks, both Bullish and Bearish. These are measured with emphasis on larger changes in price and volume. 

Bullish Stocks (Singapore)

Symbol

Name

Entry

SL

TSL

TP

Remarks
1 CATL Capitaland 4.18 4.00 4.36 Please watch out on how share is going to trade.
2 SPRM Singapore Press Holdings 4.00 3.88 4.12 lookout near breakout pt
3 SCMN Sembcorp Marine 3.62 3.38 3.86 Lookout
4 UEL United Engineer 1.82 1.69 1.95 Resistance at 1.88
5 SIAT Singapore Airport Terminal Services 2.59 2.44 2.74
6 LIAS Lion Asiapac 0.38 0.345 0.415
7 NOBG Noble Group 2.71 2.59 2.83  
8 IFAR Indofood Agri Resources 1.82 1.71 1.93 Triggered – Current Price at 1.81
Watch out when price reach 1.91
9 RAMB Ramba Energy 0.755 0.685 0.825
10 NOHL Novena Holdings 0.22 0.18 0.26  
11 STEG ST Engineering 2.89 2.73 2.82 3.03 Overnight – Current Price at 2.93

Stock Prices last updated at 10:00 (Singapore Time)

Here’s Our Mid Term Holding Opportunities for property shares.

  1. Fraser & Neave – Buy at 4.02, Stop Loss at 3.76
  2. Allgreen Properties – Buy at 1.21, Stop Loss at 1.04
  3. City Development – Buy at 10.50, Stop Loss at 9.55
  4. Wing Tai Holdings – Buy at 1.75, Stop Loss at 1.55
  5. Ezra – Buy at 2.08, Stop Loss at 1.66
  6. Lookout for Keppel Corp
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