Morning Highlights

Our Focus For Today Is On Marine Sector 

Singapore Shares started on a steady note on Wall Street’s overnight gains, with the STI up 4.21 points to open at 2992.70.

On the other hand, Japanese shares have climb to its highest intraday level in a week, with exporters helped by yen weakness, and with IHI and Toshiba pushing higher on a reported joint-venture plan.

Corporate Announcements

  1. Baker Technology Limited announced that it has accepted the Offer by the Purchaser (Yangzijiang Shipbuilding Holdings Ltd) to sell to the Purchaser the entire issued and paid-up share capital of PPL Holdings Pte Ltd. (Read More)       

  2. Raffles Medical posts 16.5% profit rise.

  3. Swiber announced the acquisition of a new subsidiary company in Australia, Kreuz Offshore and 2 in Singapore, Samson Oceanic and Bentley Marine.

 News Updates:

  1. Prudential’s shares will start trading in Singapore on May 11 and on the same day in Hong Kong, where the company has also just received regulatory approval to be listed. The rights issue, to be offered in May, will fund Prudential’s US$35.5 billion agreed takeover of AIG’s main Asian unit, AIA Group.
  2. US stocks rose to a 19-month high on Friday.
  3. U.S Announcements for today includes, BlackRock & Caterpillar first quarter results and Dallas Fed Manufacturing Activity for April.

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 SIAT Singapore Airport Terminal Services Ltd 2.93 2.74 3.12  
2 UTES United Engineers 2.65 2.51 2.79  
3 STAR Starhub Ltd 2.44 2.34 2.54  
4 WPSL Wheelock Properties Ltd 2.13 1.93   2.33  
5 CHEL Chemoil Energy 0.46 0.40   0.52  
6 SANS San Teh Ltd 0.345 0.29 0.40 NOT ENTERED
7 VENM Venture Corp 9.88 9.66 10.10 NOT ENTERED
8 COSC Cosco Corp 1.88 1.74   2.02  
9 CNAO China Aviation Oil Singapore Corp 1.83 1.72 1.94  
10 KSTL KS Energy Services Ltd 1.46 1.32 1.60
11 BATE Baker Technology 0.525 0.46 0.545 0.59 PROFIT – CLOSED at 0.53
12 SCOF Super Coffeemix Manufacturing 0.83 0.78 0.82 0.88 Overnight, Current Price at 0.825
13 SCMN Sembcorp Industries Ltd 4.38 4.33 4.35 4.43 Overnight, Current Price at 4.39**

Stock Prices last updated at 17.05 (Singapore Time)

Afternoon Highlights

Index is rather flat but holding up…

  • Keppel Land broke high of 3.85

 News Updates:

  1. Sembcorp to buy Cascal for US$206 million
  2. China Merchants Q1 net profit up 60%
  3. Emerson Electric Co. announced Monday it has offered to buy U.K.-based Chloride Group PLC for $1.1 billion in a move to bolster its position in Europe.

In Summary,

Singapore shares closed higher on Monday with the STI up 14.13 points to 3002.62. Volume was 2.0502 billion traded.

Tokyo, Hong Kong and Taipei are all up by more than 1%. Apparently our market is not performing as well as other indexes. High chance that Palm Oil Stocks will run, hence, lookout for Wilmar for the time being.

Sembcorp Industries go ex-d today at 0.15. Therefore, the closing for this stock, including the dividend is 4.54 for today. **Please note that the prices stated in Quick Picks are  excluding dividend.

Last but not least, Our Focus is shifted back to Blue Chips.

EJT_CRaYEAM