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15-Jun-2008 03:42

Others / DOW

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Dow             12,307.35    +165.77
Nasdaq          2,454.50    +50.15
S&P                1,360.03    +20.16
Friday Closing

BT June 14, 2008, 12.07 pm (Singapore time)
Saudis to raise oil output by half-million barrels: report

WASHINGTON - Concerned that skyrocketing oil prices might induce a worldwide economic slump, Saudi Arabia is planning to increase oil production next month by about a half-million barrels a day, The New York Times reported on its website late on Friday.

Citing unnamed analysts and oil traders who have been briefed by Saudi officials, the newspaper said the increase could bring Saudi output to a production level of 10 million barrels a day.

The move is seen as a sign that the Saudis are becoming increasingly nervous about both the political and economic effect of high oil prices, the report said.

While they are reaping record profits, the Saudis are concerned that today's record prices might eventually dampen economic growth and lead to lower oil demand, as is already happening in the United States and other developed countries, according to The Times.

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14-Jun-2008 02:21

Others / PALM OIL STOCKS

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June 12 (Bloomberg) -- Palm oil futures in Malaysia rose the fifth time in six days, boosted by the outlook for increased demand as its main substitute, soybean oil, traded at its highest in three months.

Palm oil's discount to soybean oil widened to its biggest in more than 18 months yesterday, according to Bloomberg data. The difference may prompt China and India, the world's biggest buyers of vegetable oils, to buy more palm oil, produced mostly by Indonesia and Malaysia.

``Consumption of palm oil is the highest in the world as compared to other edible oils, and is growing at the fastest rate,'' Selena Leong, an analyst at DMG & Partners Securities in Singapore, said in a report today. ``Demand for palm oil worldwide is increasing.''

Palm oil for August delivery gained as much as 85 ringgit, or 2.36 percent, to 3,691 ringgit ($1,127) a metric ton on the Malaysia Derivatives Exchange, before closing 0.5 percent higher at 3,623 ringgit.

``Palm oil is emerging as a viable alternative for other edible oils as it is naturally semi-solid and does not require hydrogenation,'' Leong said. Hydrogenation is a chemical process which adds hydrogen to vegetable oils, producing solid or semi- solid fats and increasing the shelf-life of food ingredients.

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14-Jun-2008 01:34

SIA / A380 A Great Way to Fly

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FA at downside, hit by fuel price and downgraded by many brokers (TP $14-$14.3)

TA has breakdown the wedge pattern (below $15), Acc/Dis and MACD at downside, it might landing at the support of $13.9x - $14.3x

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14-Jun-2008 00:31

SIA / A380 A Great Way to Fly

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12/06/08 From UOB TP $14.30 Recom: sell

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14-Jun-2008 00:14

Others / PALM OIL STOCKS

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Last Updated: June 13 2008 6:05:00 PM

NAME	MONTH	OPEN	HIGH	LOW	BID	ASK	LAST	SETT.P	CHANGE	OI	VOLUME
FCPO	Jul 2008	3601.00	3687.00	3601.00	3660.00	3674.00	3665.00	3674.00	-9.00	6918	529
FCPO	Aug 2008	3660.00	3712.00	3653.00	3685.00	3690.00	3690.00	3690.00	0.00	14791	6,854
FCPO	Sep 2008	3670.00	3717.00	3665.00	3690.00	3697.00	3690.00	3690.00	0.00	9791	3,283
FCPO	Oct 2008	3680.00	3710.00	3680.00	3680.00	3705.00	3710.00	3688.00	22.00	1339	33
FCPO	Nov 2008	3680.00	3700.00	3676.00	3699.00	3720.00	3680.00	3699.00	-19.00	2675	117

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13-Jun-2008 02:01

SingTel / Singtel Bullish???

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Telco, semiconductor counters make good inflation hedges
By LS CNA /ls | Posted: 12 June 2008 1941 hrs

SINGAPORE : Semiconductor and telecom stocks are good additions to an investor's portfolio at a time of rising inflation, according to investment advisory firm Macquarie.

Macquarie said these sectors are better insulated because they do not depend on materials that are bearing the brunt of rising prices, such as oil and food.

Telcos also depend very little on fuel relative to their revenue base, unlike sectors like transport.

Apart from telcos, Macquarie said companies that can better manage rising costs are those that produce commodities and firms that serve niche markets.

One example is Keppel Corporation. Beside its pricing power, the world's largest rig builder also has a net order book of over S$12.5 billion. The firm is expected to stay strong for another year amid higher oil prices.

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13-Jun-2008 01:45

Others / PALM OIL STOCKS

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30/5/08
Golden Agri       UOB     TP $1.32
Indofood Agri     UOB     TP $3.55
First Res             UOB     TP $1.65

27/5/08
Golden Agri       OIR       TP $1.37

16/5/08
First Res            Citi        TP $2.20

15/5/08
Golden Agri       CIMB    TP $1.55
Indofood Agri     CIMB    TP $3.25
Wilmar               CIMB    TP $6.40
First Res             DBS      TP $1.75

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13-Jun-2008 00:58

SingTel / Singtel Bullish???

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Hope this will finally "Free" SingTel!

12/Jun/08: ST Telemedia also reiterated: “The transaction complies with applicable laws and does not infringe the decision of the Indonesian District Court which is currently the subject of an appeal to the Supreme Court.”

“What was sold was Asia Mobile’s entire stakes in two holding companies which directly held the Indosat shares — Indonesian Communications Ltd (ICL) and Indonesian Communications Pte Ltd (ICPL), neither of which are registered in Indonesia and therefore outside of its jurisdiction.” ICL is registered in Mauritius while ICPL is Singapore-registered.

The director of Indonesia’s Legal Aid Institute of State Owned Enterprises, Mr Habiburokhman SH, is of the same view according to Antara. He said, at this time, there were no restrictions preventing ST Telemedia from selling its shares in Indosat to anyone, including QTel or any other company affiliated with ST Telemedia.

With the sale of the Indosat shares, Mr Habiburokhman added that Temasek and ST Telemedia cannot be charged with monopolistic practices in the telecoms sector. This is because Temasek’s remaining shareholding is only Telkomsel through SingTel and this means its composition is far from what can be described as a monopoly.

http://www.todayonline.com/articles/259038.asp

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13-Jun-2008 00:17

Others / PALM OIL STOCKS

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Last Updated: June 12 2008 6:05:00 PM

NAME	MONTH	OPEN	HIGH	LOW	BID	ASK	LAST	SETT.P	CHANGE	OI	VOLUME
FCPO	Jun 2008	0.00	0.00	0.00	3550.00	3640.00	0.00	3612.00	0.00	705	0
FCPO	Jul 2008	3666.00	3676.00	3594.00	3610.00	3645.00	3619.00	3616.00	3.00	7261	2,066
FCPO	Aug 2008	3682.00	3691.00	3620.00	3623.00	3625.00	3623.00	3623.00	0.00	15464	7,780
FCPO	Sep 2008	3685.00	3698.00	3627.00	3627.00	3630.00	3627.00	3627.00	0.00	9905	3,049
FCPO	Oct 2008	3665.00	3665.00	3642.00	3580.00	3625.00	3642.00	3625.00	17.00	1336	12
FCPO	Nov 2008	3670.00	3675.00	3630.00	3585.00	3615.00	3630.00	3605.00	25.00	2587	188

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12-Jun-2008 08:06

SIA / A380 A Great Way to Fly

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6/6/08 From GS : TP $14.00 Recom: sell

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12-Jun-2008 00:39

Others / DOW

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US crude oil stocks fall: EIA (June 11, 2008, 11.21 pm Singapore time)

NEW YORK - US crude oil stocks declined by 4.6 million barrels last week, more than the 1.1 million barrel decline forecast by analysts, according to data released by the US government's Energy Information Administration.

Crude oil futures rose over US$5 a barrel after the release of the report.

Oil prices were already up on the day amid continued output disruptions in Nigeria and news that Chinese oil imports in May were up sharply. -- REUTERS

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11-Jun-2008 07:50

Others / DOW

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DOW           +9.44      +0.08%     12,289.76
NASDAQ     -10.52      -0.43%        2,448.94
S&P 500       -3.32       -0.24%        1,358.44
OIL              - 3.04       -2.26%         $131.31

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11-Jun-2008 00:52

Unisteel / Unisteel

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Unisteel: Accept the S$1.95 offer
By Carey Wong - OCBC
Tue, 10 Jun 2008, 09:21:19 SGT

Unisteel Technology Limited (UTL) has announced that it has received a takeover offer worth S$785m from Kohlberg Kravis Roberts & Co (KKR) to acquire UTL by a scheme of arrangement. The S$1.95 cash offer translates to a premium of 11.4% over our fair value of S$1.75. However, in our earlier report, we mentioned that if we had not factored in the privatization possibility, our fair value would have fallen to S$1.39 due to our reduced FY08F estimates following its dismal 1Q08 performance. Furthermore, we do not expect to see a competing bid or KKR raising the offer as it already prices the UTL at a historical EV/EBITDA of 10.9x, which is very close to KKR’s 10.8x offer for MMI, bearing in mind that the economic outlook is slightly more uncertain as well. As such, we recommend that investors accept the offer.

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11-Jun-2008 00:47

SingTel / Singtel Bullish???

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SINGAPORE - Singapore Telecommunications (SingTel) said on Tuesday it will bring in Apple's latest iPhone that runs on third-generation mobile technology into Singapore later this year.

SingTel did not provide a date for the release or give pricing for the new iPhone.

SingTel said last month that its mobile associates - Bharti Airtel, Globe Telecom and Australian unit Optus - will also bring Apple's iPhone to India, Australia and the Philippines later this year. -- REUTERS

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11-Jun-2008 00:43

Others / DOW

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CNBC
Saudis Boost Oil Output
Tuesday June 10, 11:16 am ET

Saudi Arabia's oil output increased by almost 500,000 barrels a day this quarter, to 9.54 million barrels, sources in the Saudi Oil Ministry told CNBC. The current oil prices are unreasonable and unacceptable, the sources said, adding that no date has been set for a meeting between producing and consuming countries.

Oil prices retreated after the exclusive CNBC report.

Earlier in the day, OPEC member Kuwait said it backed Saudi Arabia's call for a meeting of oil consumers and producers to discuss high prices. OPEC's second-largest oil producer Iran also welcomed the Saudi proposal.

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10-Jun-2008 01:17

Olam Intl / Ramping up its capex

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CONVERTIBLE BONDS DUE 2013 – FINANCIAL EFFECTS OF THE ISSUE
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_3CFF2564F985DEF248257463001B3D53/$file/09Jun08-SGXAnn_Convertible_Bonds-Finance_Effects.pdf?openelement

Assuming full conversion of the Convertible Bonds

* Total number of shares will increase by 16.84% (from 1,556,287,000 to 1,818,332,000)

* The EPS will be diluted

* NTA per share will be increase to $0.59

BT: Fri,June 6, 2008
Olam shares slide on news of convertible bond issue

On Wednesday, the stock, which has benefited from the market's play on commodities stocks, rose seven cents or 2.4 per cent to $2.98 on talk of a major acquisition in Ivory Coast's cotton sector before trading was halted in the afternoon pending an announcement.

As it turned out, the announcement yesterday was not about an acquisition but instead was about the successful launch by Olam of a convertible bond issue to raise US$300 million, with an upsize option for an additional US$100 million.

Reflecting possible market disappointment, the stock dived as much as 27 cents or 9 per cent to an intra-day low of $2.71 after trading resumed. It then closed at $2.76 for a loss of 22 cents or 7.4 per cent. About 20.5 million shares changed hands.

Investors were also seen as being concerned about potential dilution from the convertible bond issue. In a research report yesterday, DBS Vickers cut its target price for Olam from $3.80 to $3.51 to account for this scenario.

Due in 2013, the bonds announced by Olam yesterday bear an annual coupon of one per cent and a yield-to-maturity of 4.5 per cent per annum. Bondholders can convert the instruments into ordinary shares of Olam at an initial conversion price of $3.8464. This represents a 30 per cent premium to the reference share price of $2.9588 at the launch.

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10-Jun-2008 00:45

SIIC Environment / Asia Water - Watch out !

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ASIA WATER AWARDED RMB152.7 MILLION CONTRACT FOR WASTEWATER TREATMENT FACILITY IN HUANGSHI CITY, HUBEI PROVINCE
The Board of Directors of Asia Water Technology Ltd. (“Asia Water”, the “Company”, or together with its subsidiaries the “Group”) is pleased to announce that its subsidiary, Wuhan Kaidi Water Services Co., Ltd (“WKS”), has secured a contract worth approximately RMB152.7 million (equivalent to S$30.5 million) to upgrade an existing wastewater treatment facility in Huangshi City, Hubei Province, the People’s Republic of China (“PRC”) with a current treatment capacity of 125,000 tonnes per day and to manage the existing wastewater treatment facility for a period of 27 years (including the construction phase) (collectively “the Project”). The Project typifies a Build-Operate-Transfer (“BOT”) contract.
09-Jun-2008 17:24:04

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10-Jun-2008 00:36

YZJ Shipbldg SGD / Cruising with the ship ..Yangzijiang

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9/Jun/08 Daily Share Buy-Back Notice

1,000,000 @ $0.94

http://info.sgx.com/webcorannc.nsf/ef3ba6cb188613ea482571b2003641d3/188a94465a300a7a48257463002eacd7?OpenDocument

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09-Jun-2008 00:58

SingTel / Singtel Bullish???

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Singtel have the upper hand in this position, b'cos telkomsel is is the top telco in indonesia, indosat is no.2

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09-Jun-2008 00:28

SingTel / Singtel Bullish???

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Smart move indeed! Singapore Technologies Telemedia is "Pte Ltd" , i think Singtel "Ltd" will surge soon.

http://www.sttelemedia.com/content.asp?ContentId=1699

ST Telemedia Sells
Entire Indosat Stake
To Qatar Telecom
By TOM WRIGHT (online.wsj.com)
June 8, 2008 8:50 a.m.

JAKARTA -- An investment arm of the Singaporean government on Saturday said it will sell its entire holdings in Indonesia's second-largest cell-phone operator PT Indosat to Qatar Telecommunications Co. for $1.8 billion.

The arm, Singapore Technologies Telemedia Ltd., and Qatar Telecom currently own a 41% stake in Indosat through a joint-venture investment vehicle.

Analysts warned that the sale, conducted during a court battle between ST Telemedia and Indonesian anti-trust authorities could deter future foreign investment because ST Telemedia is being accused of misusing a dominant position in the market when it only holds a minority stake in the Indonesian company.

ST Telemedia continues to fight in Indonesia's courts to prove that it did not break broken local antitrust laws through holding its stake in Indosat.

In May, an Indonesian district court upheld an earlier ruling that ST Telemedia and Singapore Telecommunications Ltd., which holds a 35% stake in Indonesia's largest cell phone operator PT Telekomunikasi Selular, or Telkomsel, were guilty of using their dominant position to charge excessive prices for mobile phone calls.

The court ordered either ST Telemedia or Singapore Telecommunications to divest their stakes within a year. Both companies last month appealed that ruling at the Supreme Court, which is yet to make a decision.

ST Telemedia said in making the appeal that it "has never held a majority of shares in Indosat, and fails to understand how it can be found guilty" of misusing a dominant position considering its minority stake.

Indosat is listed and its shares are widely held. Indonesia's state-run phone company PT Telekomunikasi Indonesia owns the other 65% of unlisted Telkomsel.

ST Telemedia's decision to sell its Indosat stake surprised many analysts because, until now, the company has said it will fight the court case until the end. The decision is also likely to deter foreign investment in Indonesia because it sends a signal that companies don't expect fair treatment in local courts, analysts said.

"It doesn't show Indonesia to be a consistent applier of legal principles," said James Bryson, who runs HB Capital Partners, a Jakarta-based investment company.

Despite the legal problems, ST Telemedia's investment has been profitable. In 2002, it paid $650 million for a 41% stake in Indosat, at the time an ailing state-owned telecoms provider. The following year, Singapore Telecommunications paid $1 billion for its stake in Telkomsel.

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