STI         3,196      -11      -0.33%
DOW       13,535    +28      +0.20%
S&P        1,472      +1         +0.09%
FTSE      6,117        +9         +0.15% 
DAX         7,676       -54        -0.69%
GOLD        1,683       -0         -0.05%
OIL            93.49       +0.19    +0.23%
PRE-HK OPEN +39pts
 
CREDIT SUISSE GLOBAL RISK APPETITE (EQUITY): 2.25 (14 Jan 2013)
CREDIT SUISSE GLOBAL RISK APPETITE              : 3.66  (14 Jan 2013)
 
DJ MARKET TALK: Singapore's STI May Open A Tad Lower; Earnings Eyed 

0055 GMT [Dow Jones] Singapore's STI may open slightly lower and move sideways on Wednesday as players get cautious entering into earnings reporting season, says Carey Wong, an analyst at OCBC. "Markets may be sitting on the sidelines waiting for the corporate earnings," Wong says. He says the benchmark's support could lie near 3150 while resistance may now be at 3200. The STI closed 10.52 points, or 0.3%, lower at 3196.07 points on Tuesday. Fraser & Neave (F99.SG) is likely to be in focus after the Singapore takeovers regulator stepped in to end the months-long stalemate for the battle to control the property and soft drinks company by asking two bidders to make their revised offers by Sunday. Property stocks such as CapitaLand (C31.SG) and City Developments (C09.SG) are likely to remain in focus. 
 
MISCELLANEOUS :: PROPOSED PLACEMENT OF 330,000,000 WARRANTS AT AN ISSUE PRICE OF RMB0.3072 (S$0.0605)1 FOR EACH WARRANT, WITH EACH WARRANT CARRYING THE RIGHT TO SUBSCRIBE FOR ONE (1) NEW SHARE IN THE CAPITAL OF THE COMPANY AT THE PRICE OF RMB7.617 FOR EACH NEW SHARE
 
DJ Singapore Takeovers Regulator Steps In To Resolve Fraser & Neave Bid Stalemate 

SINGAPORE--The Singapore takeovers regulator Tuesday stepped in to end the months long stalemate for the battle for control over Fraser & Neave Ltd. (F99.SG) by asking the two bidders to make a revised offer for the property and soft drinks company by Sunday. 
The Securities Industry Council, or SIC, said in a statement that given that the bidders of Fraser & Neave haven't declared their offer final, the council considers that the "company's shareholders should be provided with certainty to make their investment decisions in respect of the competing offers." 
Fraser & Neave has been in play since July last year and in September sold its most prized beer asset, which makes Tiger beer, to its joint venture partner Heineken NV. But since then its remaining assets--property and soft drinks--are being sort by a Thai billionaire and a company majority owned by Indonesia's wealthy Riady family. 
Thai tycoon Charoen Sirivadhanabhakdi, who already owns a third of Fraser & Neave had put in a US$7.2 billion bid in September to buy the remaining shares he doesn't own in the Singapore conglomerate. In November, Overseas Union Enterprise controlled by the Riady family, thwarted that bid with a US$10.6 billion offer. 
Both these offers have elicited a tepid response from the board of Fraser & Neave that has said that the offer of S$8.88 a share and S$9.08 a share by Mr. Charoen and Overseas Union respectively are at the lower end of its financial adviser's range of S$8.58-S$11.56 a share and therefore aren't compelling. 
It is one of the rare occasions in Singapore, which is known for its strict financial regulations and transparency, that the takeover regulator has stepped in to direct the bidders of a company to come up with revised offers. 
SIC also said that if the competitive situation between TCC Assets, a unit controlled by Mr. Charoen and Overseas Union continues to exist as of Sunday, the council will adopt an auction procedure that would give specified time limits for either parties to bid. 
The takeover regulator said that both TCC Assets and Overseas Union have accepted the ruling.