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Yangzijiang, BYD

Yangzijiang Shipbuilding climbed 6.1 percent to S$1.04 in Singapore, its biggest advance since October 2011. Credit Suisse raised its rating to outperform from neutral, saying the company will benefit from a recovery in shipbuilding orders because of its low production cost. DBS raised its rating to buy from hold.

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12-Sep-2013 08:23

Citicode / AdvSCT 'alive' again!!

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CONVERSION OF SERVICEABLE DEBT
The Board of Directors (?
An aggregate of 1,150,362,207 new shares (?Board?) of Advance SCT Limited (the ?Company?, and together with its subsidiaries, the ?Group?) refers to the Company?s announcements of 1 March 2013, 15 March 2013, 8 April 2013 and 30 August 2013, in relation to the grant of Conversion Rights for the Serviceable Loan. Following the shareholders? approval obtained on 30 August 2013, some Eligible Creditors had submitted conversion notices in the past one week to capitalise an aggregate of approximately S$10.2 million of the outstanding Serviceable Loan (the ?Conversion?) and the interest accrued therein. The balance of Serviceable Loan outstanding after the Conversion is $23,421,329.68.Conversion Shares?) will be issued and allotted pursuant to the Conversion. The Conversion Shares represent 34.7% of the existing issued share capital of the Company and approximately 25.7% of the enlarged issued share capital of the Company. The Conversion Shares rank pari passu in all respects of the existing issued ordinary shares of the Company and are expected to be listed and quoted on the Singapore Exchange Securities Trading Limited on or around 17 September 2013. The total number of ordinary shares of the Company will be increased from 3,319,876,234 to 4,470,238,441.
Financial Effects of the Conversion
NTA
The Conversion would have improved the NTA per Share of the Company from (2.42) Singapore cents to (0.36) Singapore cents, an improvement of approximately 2.06 Singapore cents per Share of the Company as illustrated below:
For illustration purposes only, the following is an analysis of the effects of the Conversion on the NTA per Share:
Before the Conversion as at 31 December 2012
NTA (S$?000) (28,457)
Number of Shares 1,174,571,731
NTA per Share (in cents) (1) (2.42)
Immediately before the Conversion
NTA (S$?000)
Number of Shares
NTA per Share (in cents) (0.80)(2) (26,457)(3) 3,319,876,234
Immediately after the Conversion
NTA (S$?000) (26,457)
Add: Net Proceeds from the Conversion (S$?000) 10,226
Adjusted NTA (S$?000) (16,231)
Number of Shares
NTA per Share (in cents) (4) 4,470,238,441(5) (0.36)
EPS
The Conversion would have improved the EPS of the Company from (0.84) Singapore cents to (0.63) Singapore cents, an improvement of approximately 0.21 Singapore cents per Share of the Company as illustrated below:
Before the Conversion / After the Conversion
EPS of the Company (Singapore cents)(1) (0.84) (0.63)

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12-Sep-2013 08:13

Accrelist / We hldgs

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? Placement of 204.05 million new shares and grant of option to subscribe for 204.5 million new shares to strategic/private investors to fund the acquisition of 20% stake in cement anufacturer, Dragon Cement Co., Ltd

Singapore and Hong Kong, 12 September 2013 ? WE Holdings Ltd. (?WE Holdings? or ?the Company?) is pleased to announce that the Company has entered into share placement agreements (?Placement Agreements?) with 12 private investors (?Placees?), and will allot and issue an aggregate of 204.05 million new ordinary shares in the capital of the Company (?Shares?) (?Placement Shares?) at an issue price of S$0.04302

The Placees are also granted the option to subscribe for an aggregate amount of 204.05 million additional Shares (?Option Shares?) at the issue price of S$0.047322 1 per Placement Share (?Issue Price?), for an aggregate amount of approximately S$8.8 million (?Proposed Placement?).2 per Option Share (?Option Price?), for an aggregate amount of approximately S$9.7 million (?Option?). The Option may be exercised within three months from the date of the Placement Agreements, provided that such Placee intending to exercise the Option has completed the subscription of his/her own portion of the Placement Shares.

Bigmama ( Date: 12-Sep-2013 07:19) Posted:

Announcement Title * PRESS RELEASE - WE HOLDINGS TO PLACE OUT UP TO S$18.5 MILLION TO STRATEGIC INVESTORS TO FACILITATE ACQUISITION OF MYANMAR CEMENT BUSINESS

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12-Sep-2013 08:02

Straits Times Index / STI to cross 3000 boosted by long-term investors

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Japan to Australia Futures Rise, Kiwi Gains Silver Drops

By Emma O?Brien & Adam Haigh - Sep 12, 2013 7:31 AM GMT+0800

Index futures in Japan and Australia rose, while New Zealand?s dollar strengthened after the central bank said it is likely to raise interest rates next year. Copper futures rallied as silver declined.

Futures on the S& P/ASX 200 Index (AS51) in Sydney added 0.2 percent, signaling the index may extend gains from a five-year high. Nikkei 225 Stock Average contracts were bid at 14,470 in the Osaka pre-market, from 14,465 in Chicago and 14,440 in Japan yesterday. Standard & Poor?s 500 Index futures were little changed. New Zealand?s currency climbed 0.7 percent versus the dollar, reaching a 3 1/2-week intraday high. Copper futures climbed 0.5 percent, while silver lost 0.2 percent.

Australia will probably report today that the economy added 10,000 jobs in August, while Japanese machinery orders are expected to have increased a third month in July. The Reserve Bank of New Zealand said borrowing costs are likely to rise in 2014 as growth and inflation pick up. South Korea, Indonesia and the Philippines also review rates today, while the U.S. issues its last jobless claims report before the Federal Reserve meets to evaluate monetary policy and stimulus next week.

?Sentiment towards equities remains quite strong at the moment,? Chris Weston, chief market strategist at IG Ltd. in Melbourne, said by phone. ?We seem to be climbing the wall of worry by the day. We want the Fed to start tapering as it shows signs of economic stabilization in growth.?

The Bloomberg China-US Equity Index of the most-traded Chinese stocks in New York snapped a six-day advance to fall 0.4 percent. Futures on the Hang Seng Index in Hong Kong declined 0.2 percent in their most recent trading session, while contracts on the Hang Seng China Enterprises Index added 0.2 percent.

Chinese Economy

Chinese Premier Li Keqiang said in a speech yesterday that the foundations of a rebound in growth aren?t solid and stimulus won?t help resolve deep-rooted issues in the world?s second-largest economy. The government has set a goal of 7.5 percent growth in 2013.

New Zealand?s dollar, known as the kiwi, climbed to 81.35 U.S. cents by 11:28 a.m. in Wellington, set for the strongest close since May 23 after reaching the highest intraday price since Aug. 19. Increases in the key rate, held at a record-low 2.5 percent today, ?will likely be required next year,? RBNZ Governor Graeme Wheeler said in a statement released in Wellington today. He also said the currency ?remains high.?

Three-Month Yield

The central bank forecast today that New Zealand?s three-month bank bill yield will be 3 percent in the second quarter next year, up from an estimated 2.6 percent in the current quarter. The outlook, which is seen as a guide to the direction of the cash rate, suggests an increase in the benchmark in the first half of 2014. The previous projection published in June implied a rate rise in the second half.

?The RBNZ is definitely more explicit in terms of its tonality and you?d have to interpret that as being more hawkish,? Chris Green, a strategist at First NZ Capital Ltd., a brokerage and wealth-management firm, said by phone from Auckland.

One-year interest-rate swaps rose 0.7 percent to 2.98 percent, the highest level since Aug. 15. Yields on 10-year government bonds rose two basis points, or 0.02 percentage point, to 4.8 percent.

Australia?s dollar was little changed at 93.32 U.S. cents, following a four-day rally. The economy probably added 10,000 jobs in August, after losing 10,200 in July, according to a Bloomberg survey, while the jobless rate is projected to rise to 5.8 percent for August, from 5.7 percent in July. The S& P/ ASX 200 rose 0.6 percent yesterday to the highest close since June 27, 2008.

Syria Delay

The yen traded steady at 99.88 per dollar after strengthening 0.5 percent yesterday in its first day of gains this week. Japanese machinery orders rose 7.7 percent in July from a year earlier, according to a Bloomberg survey before data today, after rising 4.9 percent in the previous month.

The S& P 500 rose 0.3 percent yesterday in a seventh day of gains, capping its longest rally since July, after U.S. President Barack Obama asked Congress to delay a vote on taking military action against Syria.

?We?re not out of the woods on news from Syria yet, but for the time being the market has digested the decision to delay action,? Russell Croft, who helps manage $900 million as a Croft-Leominster Inc. fund manager in Baltimore, said by phone.

U.S. Movers

International Business Machines Corp. surged 2.2 percent after agreeing to sell its customer-care outsourcing business to Synnex Corp. (SNX) for $505 million. Marriott International Inc. increased 3.2 percent after a Chinese land developer said he wants to buy hotel-management companies in the U.S. Apple Inc. (AAPL) plunged 5.4 percent, extending its two-day slump to 7.6 percent, as the price of its new lower-cost iPhone disappointed analysts.

The Fed will taper its monthly bond buying by $10 billion at its Sept. 17-18 meeting to $75 billion, according to the median of 34 economists? estimates collated by Bloomberg News. The stimulus has helped the S& P 500 rally as much as 153 percent since the beginning of the bull market in March 2009 through its last record reached Aug. 2.

Speculation about the stimulus has whipsawed stocks since May, when Fed Chairman Ben S. Bernanke first indicated cuts could start this year. The S& P 500 tumbled 5.8 percent from a record high on May 21 through June 24. It rebounded 8.7 percent to close at its latest all-time high of 1,709.67 Aug. 2. The gauge then slumped as much as 4.6 percent before the current rally brought it back to within 1.3 percent of the record and above the May 21 peak.

?Big Deal?

Stanley Druckenmiller, who boasts one of the hedge-fund industry?s best long-term track records of the past three decades, said ending the bond buying over the next year will roil markets.

?I really don?t care whether we go to $70 billion or $65 billion in September,? Druckenmiller said yesterday in an interview with Bloomberg TV. ?But if you tell me quantitative easing is going to be removed over nine or 12 months, that is a big deal.?

Ten-year Treasury yields dropped five basis points to 2.91 percent in New York.

Treasuries advanced after demand at a U.S. auction of $21 billion in 10-year notes increased to the highest level since March. The securities yielded 2.946 percent, trailing a forecast of 2.964 percent in a Bloomberg poll of eight of the Fed?s primary dealers. The bid-to-cover ratio, which gauges demand by comparing total bids with the amount sold, was 2.86, versus 2.45 at the last sale and an average of 2.73 at the past 10.

Verizon Deal

Treasuries briefly erased gains before the auction as traders bet the sale of a record $49 billion in corporate bonds by Verizon Communications Inc. would lead to the unwinding of hedges used to guard against higher yields. Verizon, the second-biggest U.S. telephone carrier, sold the offering in eight parts. The transaction tripled the size of Apple?s record $17 billion issue in April.

Initial claims for U.S. unemployment benefits probably rose to 330,000 in the week to Sept. 7, from 323,000 in the previous week, according to the median estimate in a Bloomberg survey of 50 economists. The U.S. import price index will also be released today.

European Rally

The Stoxx Europe 600 Index gained 0.4 percent yesterday to the highest level since June 2008. Industrial production in the euro region fell 0.3 percent in July, after rising 0.7 percent in June, according to a Bloomberg survey before a report due today.

The MSCI Emerging Markets Index rose for a sixth day, climbing 0.1 percent yesterday to a three-month high.

West Texas Intermediate oil rose 0.1 percent to $107.66 a barrel, after snapping a two-day loss to gain 0.2 percent yesterday. An Energy Information Administration report showed stockpiles at Cushing, Oklahoma, decreased to the lowest level since February 2012.

Silver slipped to $23.15 an ounce in early trading today, falling for a third day this week. Platinum and palladium lost 0.3 percent, while gold was little changed

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12-Sep-2013 07:59

Straits Times Index / STI to cross 3000 boosted by long-term investors

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U.S. Stocks Rise as Obama Weighs Syria Alternatives, Apple Drops

By Nikolaj Gammeltoft - Sep 12, 2013 4:44 AM GMT+0800

U.S. stocks rose, sending the Standard & Poor?s 500 Index to a one-month high, as diminishing concern over a military strike against Syria offset Apple Inc.?s biggest decline since April.

International Business Machines Corp. surged 2.2 percent after agreeing to sell its customer-care outsourcing business to Synnex Corp. (SNX) for $505 million. Marriott International Inc. increased 3.2 percent after a Chinese land developer said he wants to buy hotel-management companies in the U.S. Apple plunged 5.4 percent as the price of its new lower-cost iPhone disappointed analysts.

Emerging-Market Valuations `Most Attractive': Pride

2:47

Sept. 11 (Bloomberg) -- Jason Pride, director of investment strategy at Glenmede, talks about global markets and his investment strategy. He speaks with Trish Regan and Scarlet Fu on Bloomberg Television's " In the Loop." (Source: Bloomberg)

Obama's Own Words on Syria Chemical Arms, Diplomacy

2:38

Sept. 11 (Bloomberg) -- President Barack Obama offers his views on U.S. intelligence reports indicating that the Syrian regime of Bashar al-Assad used chemical weapons against its citizens, a possible U.S. military strike in response and prospects for diplomacy. Obama, in a nationally televised address last night, pulled the U.S. from the brink of military action to pursue " encouraging signs" of a possible diplomatic solution. (Excerpts. Source: Bloomberg)

The S& P 500 rose 0.3 percent to 1,689.13 at 4 p.m. in New York, the seventh straight winning session and the highest level since Aug. 13. The Dow Jones Industrial Average, which includes IBM and not Apple, (AAPL) jumped 135.54 points, or 0.9 percent, to 15,326.60, also a one-month peak. About 5.8 billion shares changed hands on U.S. exchanges, 4 percent below the three-month average.

?We?re not out of the woods on news from Syria yet, but for the time being the market has digested the decision to delay action,? Russell Croft, who helps manage $900 million as a Croft-Leominster Inc. fund manager in Baltimore, said by phone. ?Right now all eyes are on next week?s Fed meeting, that?ll be the big driver in the market with a few data points between now and then.?

The S& P 500 has advanced 3.4 percent so far in September, as reports showed China?s economy has strengthened, while concern abated that the U.S. will soon bomb Syria.

President Speaks

President Barack Obama said last night in an address from Washington that he will pursue a proposal by Russia for Syria to surrender its stockpiles of chemical weapons to international authorities. He had said he would ask Congress to authorize the use of military force against President Bashar al-Assad?s regime following a suspected chemical-weapons attack on Aug. 21 that the U.S. says killed more than 1,400 people.

The tensions over Syria have recently overshadowed investor concern that the Federal Reserve will pare back its record stimulus following its Sept. 17-18 meeting. The central bank is watching economic data as it considers reducing the monthly $85 billion in asset buying.

Economists estimate the Fed this month will taper its monthly bond buying by $10 billion, to $75 billion, according to the median of 34 responses in a Bloomberg News survey. The stimulus has helped the S& P 500 rally as much as 153 percent since the beginning of the bull market in March 2009.

Stimulus Speculation

Speculation about the stimulus has whipsawed stocks since May, when Chairman Ben S. Bernanke first indicated cuts could start this year. The S& P 500 tumbled 5.8 percent from a record high on May 21 through June 24. It rebounded 8.7 percent to close at its latest all-time high of 1,709.67 on Aug. 2. The gauge then slumped as much as 4.6 percent before the current rally brought it back to within 1.2 percent of the record and above the May 21 peak.

Stanley Druckenmiller, who boasts one of the hedge-fund industry?s best long-term track records of the past three decades, said ending the bond buying over the next year will roil markets.

?I really don?t care whether we go to $70 billion or $65 billion in September,? Druckenmiller said today in an interview with Bloomberg Television. ?But if you tell me quantitative easing is going to be removed over nine or 12 months, that is a big deal.?

Volatility Gauge

The Chicago Board Options Exchange Volatility Index (VIX), or VIX, dropped 4.9 percent to 13.82, the lowest in a month. The equity volatility gauge is down 19 percent in September after rallying 26 percent in August, the biggest monthly gain since May 2012.

Eight of 10 industries in the S& P 500 (SPX) advanced, with energy stocks and consumer-staples producers rising at least 0.8 percent. Newfield Exploration Co. jumped the most in the benchmark index for U.S. equities, gaining 7.5 percent to $26.07 as crude supplies in Cushing, Oklahoma, tumbled to the lowest since February 2012.

Apple dragged technology shares lower, dropping 5.4 percent to $467.71 for its biggest slide since April 17. The company introduced two models of its iPhone yesterday and was cut to neutral from buy at Bank of America Corp., which said that the lower-cost smartphone cost too much to increase sales in emerging markets.

Credit Suisse Group AG lowered the Cupertino, California-based company to neutral from outperform, UBS AG cut its rating on the stock to neutral from buy and Piper Jaffray Cos. lowered its 12-month price target on Apple?s shares to $640 from $655.

IBM Rally

IBM jumped 2.2 percent to $190.70 for the biggest gain in the Dow. The world?s largest computer-services provider agreed to sell the unit to Synnex to focus on more profitable investments. IBM is the largest Dow component by index weight.

An index of homebuilders rallied 2.5 percent to the highest since Aug. 5 as yields on 10-year Treasury notes declined after a $21 billion auction drew the biggest demand in six months.

Lennar Corp. jumped 3.4 percent to $34.61 and D.R. Horton Inc. gained 3.2 percent to $19.50 as all 11 members of the S& P Supercomposite Homebuilding Index advanced.

Facebook Inc. climbed 3.3 percent to a record close of $45.04. Investors bet the operator of the world?s most popular social-networking service, will benefit from growing demand for its mobile-advertising products.

Hotels, Phones

Marriott International added 3.2 percent to $42.96. Wang Jianlin, China?s richest man and the owner of the country?s biggest commercial land developer, said he has hired two investment banks to buy hotel-management companies.

Verizon Communications Inc. rose 0.1 percent to $46.52. The second-biggest U.S. telephone carrier began selling today $45 billion to $49 billion of bonds, more than twice the size of Apple?s unprecedented $17 billion issue in April, according to data compiled by Bloomberg. The company is raising money for its $130 billion acquisition of Vodafone Group Plc?s stake in Verizon Wireless.

The S& P 500 traded yesterday above its 150-day moving average for the 200th straight session. That?s the sixth longest streak since 1980 and the longest since 2004, according to Miller Tabak & Co.?s Jonathan Krinsky.

?We are in the midst of one of the greatest and steady bull markets we have seen in recent history,? the technical analyst wrote in a note today. ?Eventually it will end. Until then, however, enjoy the ride.?

The index has rallied 21 percent through yesterday from the last time it traded below the trend line on Nov. 20, 2012.

In five prior instances, after crossing the 200-day mark, further gains were ?rather limited? during four runs, while in the 1995-1996 streak, the S& P 500 rose another 15 percent, Krinsky wrote.

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12-Sep-2013 07:54

Straits Times Index / STI to cross 3000 boosted by long-term investors

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World Markets

North and South American markets finished mixed as of the most recent closing prices. The S& P 500 gained 0.31%, while the Bovespa led the IPC lower. They fell 0.76% and 0.22% respectively.

North and South American Indexes

Index	Country	Change	% Change	Level	Last Update
Dow Jones Industrial Average	United States	+135.54	+0.89%	15,326.60	4:35pm ET
S& P 500 Index	United States	+5.14	+0.31%	1,689.13	4:35pm ET
Brazil Bovespa Stock Index	Brazil	-408.57	-0.76%	53,570.46	6:02pm ET
Canada S& P/TSX 60	Canada	-0.46	-0.06%	737.18	4:20pm ET
Santiago Index IPSA	Chile	+8.03	+0.24%	3,315.07	3:17pm ET
IPC	Mexico	-92.45	-0.22%	41,640.53	5:51pm ET

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11-Sep-2013 23:24

Straits Times Index / STI to cross 3000 boosted by long-term investors

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Asian Stocks Advance as Obama Calls for Syria Pause

By Jonathan Burgos & Kana Nishizawa - Sep 11, 2013 6:59 PM GMT+0800

Asian stocks gained, extending the longest rally in the benchmark index this year, after President Barack Obama pulled the U.S. from the brink of a military strike against Syria.

BHP Billiton Ltd. (BHP), the world?s biggest mining company, rose 1.2 percent in Sydney after metal futures climbed. Yangzijiang Shipbuilding Holdings Ltd. jumped 6.1 percent in Singapore after Credit Suisse Group AG and DBS Group Holdings Ltd. raised their ratings for the Chinese shipbuilder. Inpex Corp., Japan?s biggest energy explorer, sank 3.4 percent after crude oil fell.

Obama Calls for Pause in Authorizing Syria Strikes

15:30

Sept. 10 (Bloomberg) -- President Barack Obama speaks about possible U.S. military action against Syria over Bashar al Assad's alleged use of chemical weapons. Obama, speaking to the nation from the White House, pulled the U.S. back from the brink of a military strike to pursue " encouraging signs" of a possible diplomatic solution. (Source: Bloomberg)

The MSCI Asia Pacific Index added 0.3 percent to 137.48 as of 7:45 p.m. in Tokyo, having swung between gains of as much as 0.4 percent and losses of 0.2 percent. About five shares rose for every four that fell on the measure, which advanced 6.2 percent in the past nine days. The rally drove the gauge?s 14-day relative strength index, an indicator of trading momentum, to 66 yesterday, near a threshold of 70 that signals to analyst shares may have risen too far.

?Markets probably won?t shoot much higher unless we have more positive catalysts,? said Naoki Fujiwara, Tokyo-based chief fund manager at Shinkin Asset Management Co., which oversees about $6.5 billion. ?Syria?s situation was much more unclear last week and investors couldn?t take a position, but now things have turned and they are willing to take more risks. But uncertainties around Syria do remain.?

?Cautiously Optimistic?

Obama said in a live broadcast from Washington that he had asked Congress to delay a vote authorizing the use of military force while pursuing a diplomatic solution that would have Syria surrender its chemical weapons.

?We?re still cautiously optimistic,? Daphne Roth, Singapore-based head of Asian equity research at ABN Amro Private Banking, which oversees about $207 billion, said in a telephone interview. ?Asia is very polarized and I prefer countries that are running current account surpluses such as China. Liquidity will be withdrawn out of Asia as Fed tapering materializes. That will have a big impact.?

The Federal Reserve has said any reduction in stimulus will be tied to a sustained recovery in U.S. employment. The central bank will decide to cut its $85 billion in monthly bond purchases this month, according to 65 percent of economists surveyed by Bloomberg from Aug. 9-13. The Federal Open Market Committee holds a two-day meeting on Sept. 17-18.

Regional Gauges

China?s Shanghai Composite Index added 0.2 percent to close at its highest since June 6. Australia?s S& P/ASX 200 Index rose 0.6 percent to the highest level in more than five years, as the nation?s consumer confidence index climbed to the strongest reading since December 2010. New Zealand?s NZX 50 Index added 0.2 percent and South Korea?s Kospi index gained 0.5 percent.

Japan?s Topix index slipped 0.1 percent, erasing gains of as much as 0.8 percent. Taiwan?s Taiex index was little changed and Singapore?s Straits Times Index dropped 0.5 percent.

The Topix surged 38 percent this year, with Japanese equities performing the best among developed markets tracked by Bloomberg. Shares have jumped amid optimism Prime Minister Shinzo Abe and the Bank of Japan can lead the country out of deflation with stimulus and reforms.

The Hang Seng China Enterprises Index (HSCEI) of mainland Chinese companies traded in Hong Kong dropped 0.6 percent, erasing gains of as much as 0.8 percent. The gauge yesterday climbed 21 percent from a June 25 low, entering what some investors consider a bull market. Hong Kong?s Hang Seng Index fell 0.2 percent.

U.S. Futures

Futures on the Standard & Poor?s 500 Index fell less than 0.1 percent today. The equity gauge advanced 0.7 percent in New York yesterday, extending gains for a sixth day, as reports showed China?s economy is improving and amid signs of easing tensions over Syria.

The MSCI Asia Pacific Index climbed 6 percent this year through yesterday. Shares on the Asia-Pacific gauge traded at 13.4 times estimated earnings, compared with 15.2 times for the S& P 500 Index and 14.1 for the Stoxx Europe 600 Index, according to data compiled by Bloomberg.

Miners advanced after copper, platinum and silver futures increased. BHP Billiton rose 1.2 percent to A$36.33 in Sydney. Rio Tinto Group (RIO), the world?s second-largest mining company, climbed 2 percent to A$64.15. Jiangxi Copper Co., China?s biggest producer of the metal, added 1.1 percent to HK$16.50 in Hong Kong.

Glencore Xstrata Plc, the global commodity trader and metals producer run by billionaire Ivan Glasenberg, jumped 3.3 percent to HK$40.20 in Hong Kong. The company raised its estimate of savings from the takeover of Xstrata Plc to at least four times the initial forecast.

Yangzijiang, BYD

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11-Sep-2013 23:13

Ezra / Ezra

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Ezra Holdings ? Share price up as much as 22.5% intraday

We note that Ezra Holdings? share price is up as much as 22.5% intraday on strong volume. It also received a query regarding trading activity from SGX-ST but Ezra has yet to respond at the time of our writing.

Our attempts to contact management have also been unsuccessful....

However, we note that on 26 Aug 2013, Ezra released a press release, highlighting that it was not aware of, nor has it engaged on the subject of a takeover by Samsung Heavy Industries, which was a point raised by a TradeWinds article. (http://ezra.listedcompany.com/newsroom/20130826_214825_5DN_49D6887B5797C6C448257BD300416650.1.pdf)

In terms of shareholding structure, Mr. Lionel Lee Chye Teck, Managing Director of Ezra, currently holds the largest equity stake in the company (18.9%), followed by Aker Solutions (7.4%), which is a provider of oilfield products, systems and services for the oil and gas industry.

We currently have a HOLD rating and S$0.99 fair value estimate on Ezra.

Source : OCBC Research

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11-Sep-2013 23:11

Straits Times Index / STI to cross 3000 boosted by long-term investors

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Singapore index falls Genting Singapore outperforms: Reuters

Singapore shares fell on Wednesday, but Genting Singapore Plc outperformed the market on hopes that the casino operator will benefit from an improving economic outlook in China, traders said. ...
The Straits Times Index was down 0.4 percent at 3,111.69 points, while MSCI's broadest index of Asia-Pacific shares outside Japan was 0.1 percent lower.

Jardine Matheson Holdings Ltd fell 3.5 percent while Jardine Cycle and Carriage Ltd declined 2.8 percent.

Genting Singapore shares rose as much as 5.4 percent to S$1.47, the highest since May 30. More than 36 million shares were traded, 1.7 times the average full-day volume over the past 30 days.

Deutsche upgraded Genting Singapore's stock to " buy" from " hold" and lifted its target price to S$1.63 from S$1.38, citing signs of recovery in China, stabilising operating costs and a potential entry into the Japanese market.

Shares of oil and gas services provider Ezra Holdings surged as much as 15.2 percent. Nearly 16 million shares were traded, 6.4 times the average full-day volume over the past 30 days.

Ezra had not responded to a Singapore Exchange query.

In late August, Ezra addressed media reports that Samsung Heavy Industries was considering a takeover bid for the Singapore firm.

" The company wishes to clarify that it is not aware nor has it been engaged on the subject of a takeover of the company by SHI," Ezra said then.

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11-Sep-2013 23:07

YZJ Shipbldg SGD / Cruising with the ship ..Yangzijiang

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Yangzijiang Shipbuilding - Momentum picking up

Written By Stock Fanatic on Wednesday, September 11, 2013 | 9/11/2013

The re-rating catalyst for YZJ is the potential for more shipbuilding orders, backed by a sustained climb in the Baltic Dry Index. The BDI is supported by the stronger steel production and macro fundamentals in China.

The heightened order momentum and FY15 delivery slots being quickly snapped up suggest that YZJ?s order drought has bottomed out. We like YZJ as it is one of the last privately-owned Chinese shipyards with decent profitability. We keep our Outperform rating and target price (based on 1.4x FY13 P/BV 1 s.d. below its 5-year mean). The stock has the highest dividend yield of 4.8% among the ship/rig builders.

" With the Baltic Dry Index stabilising at above 1,000 points, we are optimistic for more options to be exercised in 2H13, and believes the risk of shipbuilding contract cessation will be lower"

? Yangzijiang

BDI spike may lead to more shipbuilding orders

With about half of its order book (US$3.24bn as at end-Jun) dominated by bulk carriers, we believe YJZ can benefit from more shipbuilding orders if the BDI?s climb is sustained. A high BDI also lowers the risk of order cancellations.

The BDI spiked recently to its 52-week high of 1,478, driven primarily by the increase in Chinese steel production that spurred demand for shipping vessels mainly in the Capesize sector. China's macro fundamentals have stabilised with the recent data showing that the real economic activity is starting to improve. Iron ore inventories are also relatively low and we expect the import demand to remain relatively strong in 4Q13, which can lead to further upsides in the BDI.

US$1.22bn orders secured more likely by end-13

New orders have rebounded sharply from US$300m in FY12 to US$1.22bn YTD. YZJ has been consistently getting new orders, with another US$241m (eight shipbuilding contracts) in the bag during the first two months of 2H13. The YTD order win is about 50% of our FY13 order target of US$2.5bn.

We look forward to more orders in 2H13 as YZJ has 51 options worth US$2.87bn, of which 22 are for containerships (US$1.79bn) and 29 for bulk carriers (US$1.08bn).

Trough valuations

The stock is trading at its trough of 0.98x FY13 P/BV, an unwarranted 20% discount to its peers despite a stronger ROE of 20%. In comparison, Cosco is trading at 1.23 P/BV with an ROE of 3.7%. (Read Report)

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11-Sep-2013 22:16

Straits Times Index / STI to cross 3000 boosted by long-term investors

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bishan22 ( Date: 11-Sep-2013 22:06) Posted:

Hatte-hatte- hatte - ho.

Fraka-kaka-kaka-kaka-kow.

Tomollow bull moo moo ok!

GorgeousOng ( Date: 11-Sep-2013 21:38) Posted:

Nice song!!!!
Something different!!!

Cheers!

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11-Sep-2013 21:41

Oceanus / OCEANUS (No.1 in abalone farming): Venturing into

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Today closing at 0. 025 . Let's observe tomorrow again!

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11-Sep-2013 21:31

Oceanus / OCEANUS (No.1 in abalone farming): Venturing into

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Oceanus Group ST: the RSI is oversold

Trading Central | 2013-09-05 23:12:00

Alternative scenario: the upside breakout of 0.024 would call for 0.027 and 0.028.

0.024 is our pivot point.

Our preference: the downside prevails as long as 0.024 is resistance.

Alternative scenario: above 0.024, look for 0.027 and 0.028.

Comment: the RSI is trading below 30. This could mean that either the stock is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the share stands below its

Paiseh, a bit outdated !

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