Wednesday, 2 January 2013

02 January 2013~ Good Morning Singapore!


Singapore Idea Snippets:
Singapore News

Singapore’s gross domestic product rose an annualized 1.6 percent in the three months through Dec., from the previous quarter, according to the median of 11 estimates in a Bloomberg News survey. The Ministry of Trade & Industry will release final data at 8 a.m. Singapore’s economy grew 1.2% in 2012, Prime Minister Lee Hsien Loong said in a new year message. The GDP is expected to grow 1 percent to 3 percent in 2013, he said.


* Fraser & Neave (FNN SP) extended deadline expires for Thai billionaire Charoen Sirivadhanabhakdi’s $7.3b bid for F&N; competing higher bid from group led by Overseas Union Enterprise expires Jan. 3; Co. reports JPMorgan says Kirin’s offer for F&N’s food and beverage business is ‘fair but not reasonable, from a financial point of view.’
* Jaya Holdings (JAYA SP) names Chong Chow Pin as CFO
* China Aviation Oil (CAO SP) signs term contracts with BP Singapore; continues collaboration agreement suspension
* DBS Group (DBS SP) completes purchase of 30% stake in Marina Bay Financial Centre Tower 3


MARKETS:
S&P 500 closed Dec. 31 at 1,426.19
Stoxx Europe 600 closed Dec. 31 at 279.68
MSCI Asia Pacific closed Dec. 31 at 129.40
Straits Times Index closed Dec. 31 at 3,167.08


ECONOMY:
* Singapore 4Q preliminary home prices

(Bloomberg)

Malaysian News

Global investors boosted holdings of Malaysian local-currency debt by two percent in November from a month earlier to an all-time high of 226.3 billion ringgit ($74 billion), according to data published on the central bank’s website. The value of securities owned by overseas investors rose 34 percent from the same month in 2011 and surpassed the previous record of 221.9 billion ringgit reached at the end of October, the monthly data showed.


EQUITY MOVERS:
* Crescendo (CCDO MK): 3Q net profit falls to 10.1m ringgit from 21.7m ringgit yr earlier
* Kim Loong (KIML MK): 3Q net income drops to 8.8m ringgit from 23.6m ringgit yr ago
* Malaysia Airports (MAHB MK): Targets 2013 ebitda of 751m ringgit; passenger growth of 7.1% vs 4.6% in 2012
* Sentoria (SNT MK): Signs joint-venture agreement with Sieremas to develop land in Selangor into houses, commercial units; expected sales from project estimated at 1.6b ringgit


MARKETS:
* Malaysia’s FTSE Bursa Malaysia KLCI Index advanced 0.5 percent Dec. 31
* The MSCI Asia Pacific Index little changed Dec. 31
* The Dow Jones Industrial Average rose 1.3 percent Dec. 31
* Palm oil Mar-delivery futures declined 2.4 percent Dec. 31

(Bloomberg)

Asian News

Today: Singapore GDP, South Korea, Indonesia and India manufacturing PMI, Indonesia trade and inflation, Thai CPI; New Zealand, Japan, China markets closed.


WHAT TO WATCH:
* U.S. House republicans will probably add more spending cuts to a bipartisan budget bill passed by the U.S. Senate
* U.S. stocks surged on the last day of a year by the most since 1974 as lawmakers neared a budget deal
* China’s Purchasing Managers’ Index expanded for a third month, evidence the recovery will extend into the new year
* Billionaire Charoen Sirivadhanabhakdi needs to have more than 50% of Fraser & Neave by today to prevent his bid from failing
* Posco agreed to buy a stake in ArcelorMittal Mines Canada, with Maeil and Yonhap newspapers reporting value at up to $1.1b
* Sharp says it’s considering increasing capital after Yomiuri newspaper reports possible $1.2b in fund raising
* Nissan President Carlos Ghosn says the yen is far from “neutral territory” of about 100 to the dollar
* Thousands take to the streets of Hong Kong, demanding the resignation of CEO Leung Chun-ying
* Singapore growth estimate suggests the economy probably contracted in the fourth quarter, slipping into recession
* Live Nation Chairman Irving Azoff resigns and sells stock to Liberty Media
* Herbalife, a stock shorted by hedge fund manager Bill Ackman, rose the most in more than seven months on Dec. 31


ECONOMY (Hong Kong time):
* 7am: Australia Dec. RPData-Rismark House PX Actual; no est. (prior unch.)
* 8am: Singapore 4Q GDP (annualized) Q/q; est. 1.6% (prior -5.9%)
* 8am: Singapore 4Q GDP Y/y; est. 1.4% (prior 0.3%)
* 8:01am: South Korea Dec. HSBC Manufacturing PMI; no est. (prior 48.2)
* 10am: Taiwan Dec. HSBC Manufacturing PMI; no est. (prior 47.4)
* 11am: Indonesia Dec. Markit Manufacturing PMI
* 12pm: Indonesia Dec. Inflation NSA M/m; est. 0.54% (prior 0.07%)
* 12pm: Indonesia Dec. Inflation Y/y; est. 4.20% (prior 4.32%)
* 12pm: Indonesia Nov. Exports Y/y; est. -7.0% (prior -7.6%)
* 12pm: Indonesia Nov. Total Imports Y/y; est. 7.0% (prior 10.8%)
* 12pm: Indonesia Dec. Core Inflation Y/y; est. 4.39% (prior 4.40%)
* 12pm: Indonesia Nov. Total Trade Balance; est. -$409M (prior -$1547M)
* 1pm: India Dec. Markit Manufacturing PMI
* 1:30pm: Australia Dec. RBA Commodity Price Index; no est. (prior 87)
* 1:30pm: Australia Dec. RBA Commodity Index SDR Y/y; no est. (prior -11.6%)
* TBA: Thailand Dec. Consumer Price Index NSA M/m; est. 0.04% (prior -0.35%)
* TBA: Thailand Dec. Consumer Price Index Y/y; est. 3.20% (prior 2.74%)
* TBA: Thailand Dec. Core CPI Y/y; est. 1.80% (prior 1.85%)
* Macau reports Dec. casino revenue; Stern Agee expects record


CENTRAL BANKS:
* Nothing major scheduled


GOVERNMENT:
* 12:20pm: South Korea Finance Minister Bahk Jae-Wan gives new year speech, Seoul


EARNINGS:
* Country Garden (2007 HK) 3Q


BOND SALES (Hong Kong time):
* 12pm: Bank Negara to Sell 1.5b Ringgit 91-Day Islamic Notes
* 5:30pm: Sri Lanka to Sell 91-Day Bills
* 5:30pm: Sri Lanka to Sell 182-Day Bills
* 5:30pm: Sri Lanka to Sell 364-Day Bills


IPO WATCH:
* Nothing major scheduled


CORPORATE EVENTS/CONFERENCES (Hong Kong time):
* NA: Thai Bev deadline for F&N bid
* 7am: Hyundai Motor, Kia target for 2013
* 9am: Samsung Heavy outlook for 2013
* 4:30pm: Fubon Financial (2881 TT) conf call on purchase of First Sino Bank 855 5003713 or 0808 2342782, pin FUBON
* Country Garden board meeting


STOCKS TO WATCH
* Hong Kong Highlights
* BYD Electronic (285 HK): Renews transactions agreement with BYD Group
* China Railway Cons. (1186 HK): To invest 10b yuan in Zhuhai city project
* North Asia Resources (61 HK): Extends placing period to Jan. 31
* India Highlights
* Kingfisher Airlines (KAIR IN): Operating license expired yday
* South East Asia Highlights
* Fraser & Neave (FNN SP): Thai billionaire Charoen Sirivadhanabhakdi’s bid expires
* Malaysia Airports (MAHB MK): Targets 2013 Ebitda of 751m ringgit; passenger growth of 7.1% vs 4.6% in 2012


MARKETS:
* S&P 500 up 1.7% to 1,426.19
* Stoxx Europe 600 up 0.3% to 279.68
* U.S. 10-year yield at 1.758%
* Brent futures up 0.4% to $111.11/bbl
* Feb. gold futures up 1.2% to $1,675.80/oz

(Bloomberg)


US Stock News

WALL STREET: Stocks rise as Washington budget debate continues. Indexes opened weak but trended up all session to close hear the highs.
* S&P 500 +1.69% to 1426.19
* DJIA +1.28% to 13104.14
* Nasdaq 100 +2.09% to 2660.931
* Gold up 1.11% to $1674.3
* WTI Crude up 0.99% to $91.7
* 10-yr Treasury +5.65bp to 1.7574%
* All prices as of 4:22pm in New York


MAJOR STORY:
* U.S. budget debate continues
* House Plans No Votes On U.S. Budget Tonight
* House Republicans to Hold Private Conference at 5pm
* Senate Republicans Said to Plan 4:30pm Caucus Meeting
* Reid Hasn’t Signed Off on Fiscal Cliff Tax Deal, Aide Says


TOP NEWS:
* LodgeNet to File Chapter 11, Recapitalize With Colony
* Syndicate led by affiliate of Colony Capital to provide $60m in new capital, owns 100% after transaction
* Live Nation Entertainment Chairman Irving Azoff will exit co.
* S&P 500 gains 13.4% in 2012 for best annual gain since 2009


MARKET DATA:
* S&P 500 +1.69%; DJIA +1.28%; Nasdaq 100 +2.09%
* S&P 400 +1.61%; S&P 600 +1.96%; Russell 2K +2.07%; SOX +1.91%; KBW +1.36%
* CLF AMD PSX BBY FTI gained most in the S&P 500
* S&P 500: 495 stocks, 99% of the index, climbed
* 10 of 10 S&P sector groups positive
* Tech +2.16%, energy +2.09%, materials +2.01%, consumer discretionary +2%, industrials +1.87%
* Utilities +1.39%, financials +1.38%, health care +1.22%, telecom +1.14%, consumer staples +1.11%
* HPQ CAT GE AA BAC led in the DJIA; 30 components positive
* SHLD AAPL EA FOSL NFLX led to the upside in the Nasdaq 100; 98 components positive
* Advancers beat decliners 17.7 to 1 on the NYSE
* Total number of shares traded 6.064b; above 100-DMA


RISK ON/RISK OFF:
* VIX Index down 20.69% to 18.02
* ON:
* SPDR-Consumer Discretionary up 2% to 47.4391
* iShares MSCI Emerging Markets up 1.49% to 44.35
* MSCI Emerging Markets up 0.16% to 1056.91
* OFF:
* iShares DJ U.S. Healthcare Sector up 1.25% to 83.51
* SPDR-Consumer Staples up 1.31% to 34.9


TREASURIES:
* 30-yr +8.27bp to 2.9499%
* 10-yr +5.65bp to 1.7574%
* 2-yr +0.03bp to 0.2468%


CURRENCIES:
* Dollar Index Spot up 0.14% to 79.791
* Euro/dollar down 0.17% to 1.3193
* GBP/dollar up 0.48% to 1.6231
* Dollar/Yen down 0.92% to 86.76


COMMODITIES:
* Oil hits 2-mo. high
* Metals:
* Gold up 1.11% to 1674.3
* Silver up 0.85% to 30.173
* Copper up 1.63% to 364.8
* Aluminum up 0.48% to 2046.5
* Platinum up 1.4% to 1538.7
* China import iron ore benchmark grade up 3.95% to 144.9
* Fuels:
* WTI Crude up 0.99% to 91.7
* Nat Gas down 2.85% to 3.37
* Gasoline up 0.43% to 281.2
* Heating Oil up 0.01% to 304.51
* Agriculture:
* Corn up 0.61% to 698.25
* Wheat down 0.1% to 778
* Orange Juice down 7.53% to 116.05
* Soybeans down 0.37% to 1418.75
* Coffee down 2.08% to 143.8
* Cotton up 0.64% to 75.14
* Sugar up 0.46% to 19.51
* Cocoa down 0.58% to 2236


MERGERS & ACQUISITIONS:
* JHP Pharma (Private) Acquired by Warburg Pincus for $195m
* Vitamin Shoppe Extends Super Supplements Purchase Deadline
* FTC Investigates Vitamin Shoppe’s Purchase of Super Supplements


GOVERNMENT:
* Wind Tax Credit Said to Be Extended Under Tentative Budget Deal
* Details of Tentative Fiscal Cliff Deal
* U.S. Downgrade Risk Remains Even If Fiscal Deal Reached: Mizuho


EUROPE:
* European stocks were little changed amid U.S. budget debate
* First Word Europe wrap
* First Word European crisis wrap
* CAC 40 up 0.58%
* DAX down 0.57%
* IBEX 35 up 0.45%
* FTSE MIB down 0.82%
* Swiss Market Index down 0.58%

Monday, 31 December 2012

31 December 2012~ Good Morning Singapore!


This product is made available by your Central Dealing Team, for you as TRs of OCBC Securities to help you with your business and therefore it is confidential and only for internal circulation. It is not intended for onward circulation to non-OSPL TRs, clients or any other third party in this or any other version. Neither is this intended to be relied upon as a sole basis for any recommendation. TRs must also consider their clients’ investment objectives, financial position and needs when intending to make or making any recommendation. For the front desk, by the front desk. All feedback to make this a better product are welcome.


Singapore Idea Snippets:
Asia Stocks

Keppel Land Ltd. (KPLD SP) said its China unit secured a prime city center site for mixed-use development in China for about S$82 million ($67 million),
comprising 1,135 high-rise residential apartments and commercial components, according to a statement to the Singapore stock exchange.

Gross domestic product contracted in the final three months of 2012 from the previous quarter, according to five of 10 economists in a Bloomberg News survey, where the median was for an annualized expansion of 0.3 percent. A decline would lead to the country’s first recession since 2009. The report will be released at 8 a.m. on Jan. 2.

* SC Global (SCGD SP) says CEO Simon Cheong “has no intention of increasing the offer price” of S$1.80/shr. There is currently no discussion with Wheelock Properties with respect to any merger, co. says in separate filing
* KS Energy (KST SP) says unit bought jack-up drilling rig for $68.2m
* Sim Lian Group (SLG SP) says joint venture co. gets new mixed development contract
* Chip Eng Seng (CHIP SP) names Raymond Chia Lee Meng as executive deputy chairman
* Sky China Petroleum (SKYP SP) expects net loss for financial year
* Scintronix (SCIN SP) reports accepts offer for sale of property in Senai Johor, Malaysia
* Prime Minister Lee Hsien Loong issues statement on the outlook for 2013 at 6 p.m.


MARKETS:
S&P 500 down 1.1% to 1,402.43
Stoxx Europe 600 down to 278.78
MSCI Asia Pacific up 0.6% to 129.61
Straits Times Index rose 0.3% to 3,191.8


ECONOMY:
* Singapore plans to sell S$2 billion of 91-day notes
* Singapore will release its monthly data for credit card bad debts, bank loans and advances and money supply


Today: China manufacturing PMI, South Korea and Sri Lanka CPI; Japan, South Korea, Taiwan, Indonesia, Thailand, Philippines, Vietnam markets closed; Hong
Kong, Australia, Singapore, New Zealand close early.

WHAT TO WATCH:
* Click here for market closures
* U.S. Senate Democrats reject Republican offer to resolve fiscal crisis as talks continue
* China’s central bank focuses on controlling financial system risk in possible signal of concern about non-bank lending
* China asks IPO advisers to inspect clients’ financial statements as regulators combat fraud
* China cuts rare earth export quotas; watch producers Chalco, Inner Mongolia Baotou Steel, Maanshan Dingtai Rare Earth
* KKR considers $2.9b bid for Trader Media, Sunday Times reports
* Carlyle is expected to pay > $600m for Duff & Phelps, WSJ reports
* RBS will cut bonuses to cover Libor fines, Sunday Times says


ECONOMY (Hong Kong time):
* 7am: Korea Dec. Consumer Price Index M/m; est. 0.2% (prior -0.4%)
* 7am: Korea Dec. Consumer Price Index Y/y; est. 1.5% (prior 1.6%)
* 7am: Korea Dec. Core Consumer Price Index Y/y; no est. (prior 1.3%)
* 8:30am: Australia Nov. Private Sector Credit M/m; est. 0.2% (prior 0.1%)
* 8:30am: Australia Nov. Private Sector Credit Y/y; est. 3.7% (prior 3.8%)
* 9:45am: China Dec. HSBC Manufacturing PMI; est. 50.9 (prior 50.5)
* 10am: Singapore Nov. Credit Card Bad Debts; no est. (prior S$18.8m)
* 10am: Singapore Nov. Credit Card Billings; no est. (prior S$3.36b)
* 10am: Singapore Nov. Bank Loans& Advances Y/y; no est. (prior 17.9%)
* 10am: Singapore Nov. M1 Money Supply Y/y; no est. (prior 4%)
* 10am: Singapore Nov. M2 Money Supply Y/y; no est. (prior 5.4%)
* 4:30pm: Hong Kong Nov. Budget Surplus/Deficit; no est. (prior HK$21.5b)
* 5pm: Hong Kong Nov. Money Supply M1 Y/y; no est. (prior 13.1%)
* 5pm: Hong Kong Nov. Money Supply M2 Y/y; no est. (prior 10%)
* 5pm: Hong Kong Nov. Money Supply M3 Y/y; no est. (prior 10%)
* 5:30pm: Sri Lanka Dec. CPI Moving Average Y/y; est. 7.6% (prior 7.2%)
* 5:30pm: Sri Lanka Dec. CPI Y/y; est. 9.3% (prior 9.5%)
* 7:30pm: India 3Q Current Account Balance; est. -$23.5b (prior -$16.4b)
* TBA: India Nov. Fiscal Deficit; no est.


CENTRAL BANKS:
* Nothing major scheduled


GOVERNMENT:
* 6pm: Singapore PM’s New Year speech


EARNINGS:
* Nothing major scheduled


BOND SALES (Hong Kong time):
* 11:30am: Hong Kong to Sell HK$1.3b 365-Day Bills
* 12pm: Singapore to Sell S$2b 91-Day Bills
* 12am: India to sell 60b-70b Rupees 10-14yr bonds
* 12am: India to sell 20b-30b Rupees 15-19yr bonds
* 12am: India to sell 30b-40b Rupees 5-9yr bonds


IPO WATCH:
* Nothing major scheduled


CORPORATE EVENTS/CONFERENCES (Hong Kong time):
* Nothing major scheduled


STOCKS TO WATCH
* Greater China Highlights
* Rare earth producers: China cuts export quota as demand drops; Chalco (2600 HK); Inner Mongolia Baotou Steel (600111 CH), Maanshan Dingtai Rare Earth (002352 CH)
* China Railway Construction (601186 CH): Withdraws application for placement

* India Highlights
* Dewan Housing (DEWH): Says competition commission approves merger

* South East Asia Highlights
* Keppel Land (KPLD SP): China unit gets city center site for mixed-use development for ~S$82m ($67m)
* SC Global (SCGD SP): CEO says no intention to raise offer price for co.


MARKETS:
* S&P 500 down 1.1% to 1,402.43
* Stoxx Europe 600 down 0.7% to 278.78
* U.S. 10-year yield at 1.701%
* Brent futures down 0.2% to $110.62/bbl
* Feb. gold futures down 0.5% to $1,655.90/oz



US Stocks


U.S. stocks posted their fifth straight losing day Friday. Stocks opened lower as investors worried over the approaching "fiscal cliff," with declines accelerating at the end of the day on reports that President Barack Obama wouldn't make a new budget proposal in a meeting with congressional leaders.
The Dow Jones industrial average fell 158.20, or 1.2 percent, to 12,928.11.
The Standard & Poor's 500 fell 15.67, or 1.1 percent, to 1,402.43.
The Nasdaq composite index fell 25.59, or 0.9 percent, to 2,960.31.

Friday, 28 December 2012

NEXTINSIGHT: Technics Oil, Nam Cheong, Q & M‏

SINGAPORE
*** TECHNICS OIL, NAM CHEONG: Positive developments

*** Q & M expands into Medical Healthcare With $22.65m Takeover

*** 8 stocks that inspire investor optimism for 2013.

HONG KONG / CHINA

*** NEW NORMAL? PRC Share Buybacks On Rise

*** CHINA MARKET: Why 2013 Will Be Better

*** XMAS celebration and shopping take off in China

Jim Rogers to Buy Olam Shares in Rights Offer

Dec. 28 (Bloomberg) -- Rogers’s Olam holding quite small,
Straits Times says, citing Rogers.
* Rogers said that while short-selling plays important role in
the market, short-sellers frequently wrong, according to
report
* NOTE: Olam plans to offer $750 million in bonds and as much
as $500 million in warrants to address concerns about co.’s
liquidity after short-seller Carson Block said co. may fail.
Temasek could end up holding as much as 29% of co. if it
exercises all warrants in 2016 at earliest, according to
Olam CEO Sunny Verghese.