Morning Highlights
Singapore market started little changed, with STI up 2.76 points at 2808.95, following the lead from Wall Street which all the major averages ended in positive territory after a choppy session.
- Weakness in Hong Leong Asia
Singapore CPI dipped 0.5% in December over November, mainly due to lower costs of housing, transport and communication. Excluding accommodation costs, the index stayed unchanged in December.
Corporate Announcements
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Keppel Land announced a 4Y09 net profit of 106.9mn, up 56.1% year-on-year. This takes Keppel Land’s total profit for the year of 2009 to $280.4million, up 23.1% from the previous year. The company also announced a final cash dividend of $0.08 per share…
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Genting will mandatorily convert all of the bonds outstanding on February 9 into shares at the conversion price of $0.95. Following this, a Conversion Agent will sell these shares and credit the relevant sale proceeds to the bondholder’s account after deducting expenses. If a bondholder does not wish to sell shares, they must send a duly completed conversion notice to the Conversion Agent by 5pm on February 8. As at close of 25th Jan, the outstanding bonds amounted to $321.1 million (or approx 265.3 million shares).
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NOL’s container shipping volumes for the 6 weeks from November 14 to December 25 increased 43% yoy while average revenue per forty-foot equivalent unit declined 25% yoy.
News Updates
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U.S equity markets rebounded overnight while the yen and two year U.S Treasury notes retreated as investors grew more confident that Ben Bernanke will be reconfirmed as chairman of the Federal Reserve.
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AK Steel Holding Corp reported 4Q net income of $0.36 per share, topping expectations of $0.20 per share. Net sales declined to $1.32 billion from $1.46 billion in the prior year quarter but still exceeded the forecast of $1.25 billion.
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Philips Electronics reported 4Q net income of 0.27 Euros per share, compared to loss of 1.26 Euros per share last year.
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)
Name |
Entry |
SL |
TSL |
TP |
Remarks |
|
1 | MIIF | Macquarie International Infrastructure Fund Ltd | 0.53 | 0.475 | 0.585 | |
2 | ARAM | ARA Asset Management | 1.02 | 0.94 | 1.10 | |
3 | EPIL | Epure International | 1.01 | 0.89 | 1.13 | |
4 | CWTD | CWT Limited | 0.925 | 0.83 | 1.02 | NOT ENTERED, market choppy |
5 | OSIL | OSIM International | 0.67 | 0.61 | 0.73 |
Stock Prices last updated at 9:00 (Singapore Time)