STI 3,107 +29 +0.94%
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PRE-HK OPEN +78pts

CREDIT SUISSE GLOBAL RISK APPETITE (EQUITY): 1.87 (6 Dec 2012)

CREDIT SUISSE GLOBAL RISK APPETITE : 2.65 (6 Dec 2012)

DJ MARKET TALK: STI Likely To Open Higher On US Jobs Confidence

0057 GMT [Dow Jones] Singapore's STI is likely to open higher as optimism over the U.S. economy lifted equities Friday, with U.S. payroll figures coming in higher than expected. But Italy PM Monti's announcement he will resign and former PM Berlusconi coming back into view inject some uncertainty. The latter's "anti-austerity policies and anti-German rhetoric may strain some of the eurozone's political relationships and dent investor confidence as we head in to 2013," says IG Markets head of premium client management Jason Hughes. The STI ended 0.9% higher at 3,107.11 Friday. Investors will watch F&N (F99.SG), a day ahead of the deadline for Thailand's Charoen to submit a revised offer. DBS (D05.SG) also bears watching, after it announced it will acquire a stake in its new headquarters at Marina Bay Financial Center

 

 

Singapore Daily
China Minzhong: Big Overhang Removed; Maintain BUY, TP $1.16
MINZ SP | Mkt Cap USD358.3m | ADTV USD5.2m

Ø Olympus Capital, a private equity fund, has sold its entire stake of 57m shares in China Minzhong through a private placement last Thursday at SGD0.80 per share. In our (KE Maybank) view, this placement is a positive for Minzhong as it removes a long-term share overhang on the company without adding too much selling pressure in the open market.
Ø In a show of solidarity, management took advantage of the vendor share placement to increase personal stakeholdings. This clearly signals management’s confidence in the company’s fundamentals and the
attractiveness of its share price.
Ø We continue to like Minzhong for its growth prospects. We are looking at an average of 15% EPS growth for the next three years. As it stands, Minzhong’s share price is deeply undervalued at the current

 

10 Dec 2012 08:29

*DJ DBS to Acquire Stake in Singapore's Marina Bay Financial Center