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Medtecs rises as higher demand for face masks seen

Reuters — Wed, 19 Jun 2013 18:20:27 +0800

Shares of Singapore-listed Medtecs International Corp surged as much as 10.2% on expectations of higher sales of face masks in the city-state, which is grappling with its worst air pollution in 16 years, traders said.

The medical products maker’s shares rose as high as $0.065 with 1.8 million shares traded, 1.6 times the average full-day volume over the past 30 days.

Asti Holdings - Corporate moves

The Edge — Wed, 19 Jun 2013 16:22:06 +0800

Dato' Michael Loh Soon Gnee has been appointed CEO wef July 1
Work experience: Executive chairman/CEO, Advanced System Automations Ltd and Dragon Group Int’l Ltd

Amara Holdings - Corporate moves

The Edge — Wed, 19 Jun 2013 16:20:03 +0800

Foo Ko Hing has been appointed independent director wef June 17
Work experience: ED, corporate finance and strategic planning, Cerealtech Pte Ltd; CEO, Rotol Singapore Ltd

Acronis - Corporate moves

The Edge — Wed, 19 Jun 2013 16:16:48 +0800

Simon Howe has been appointed sales director, mobility solutions, APAC wef June
Work experience: Sales professional with a proven track record in leading backup and software management vendors such as Acronis, Symantec and CommVault.

STI down; ST Engineering outperforms

Reuters — Wed, 19 Jun 2013 14:56:50 +0800

Singapore shares drifted lower, snapping three consecutive sessions of gains, with investors waiting for more clarity on the U.S. Federal Reserve’s next policy step.

The Straits Times Index was down 0.3% at 3,218.41 points on Wednesday, almost in line with the fall in MSCI’s broadest index of Asia-Pacific shares outside Japan.

OCBC tips more upside for Ezion despite YTD rise

Dow Jones & Co, Inc — Wed, 19 Jun 2013 10:38:41 +0800

Despite Ezion Holdings' (5ME.SG) near 36% year-to-date rise, OCBC says shares still have upside.

The house attributes the stock's recent resilience in the face of the STI's 6.8% decline from its 52-week high in May to the fact that Ezion's earnings are backed by secured contracts for a fleet of 27 liftboats and service rigs, and its diverse customer base composed of national oil companies from various parts of the world.

"Despite the good stock price performance year to date, we still see an upside potential of about 14% over a one-year time frame," the house says.

It tips, contracts that the group secures in the future that will have an impact on FY13F and FY14F earnings may be further price catalysts. OCBC has a Buy rating and $2.62 fair value for the stock. The stock is currently flat at $2.29.

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Jun 19: Sembcorp, CapitaLand, Keppel Land

The Edge — Wed, 19 Jun 2013 08:57:08 +0800

Shares in Singapore closed higher on Tuesday for the third consecutive session. The Straits Times Index gained 46.11 points, or 1.45%, to end at 3,229.55. Here are some stocks to watch this Friday morning:

Sembcorp Industries says HSBC Holdings has been appointed to manage a public share offer of a joint venture firm that owns and operates a $1 billion water and power project in Oman, two banking sources said on Tuesday.

Singapore property developer CapitaLand said it has acquired a 70% stake in Guang Chuan Property Co. for 1.95 billion yuan ($397.5 million). The Chinese company owns two plots of land in Hanzhonglu, Zhabei District, Shanghai.

Keppel Land said it has acquired a residential site in Shanghai's Sheshan area for 1.3 billion yuan ($268 million) to develop around 200 landed homes.

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CapitaLand acquires stake in Shanghai development for $398mil

The Edge — Wed, 19 Jun 2013 08:51:18 +0800

CapitaLand has acquired a 70% stake in a mixed-use development in Shanghai for $397.5 million.

In a statement, the property developer said its wholly-owned business unit CapitaLand China bought a 70% stake in Shanghai Guang Chuan Property Co Ltd, a unit of Shanghai Shentong Metro Assets Management (Shentong Assets).

Shentong Assets is responsible for the development and asset management of properties above the group's metro stations or along the metro lines in Shanghai.

EUR/USD, AUD/USD, USD/JPY Performance Chart as at 12:00p.m. Singapore time, 19/06/2013

IG Markets — Wed, 19 Jun 2013 08:00:00 +0800

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ISDN Holdings plans to acquire stakes in Indonesian energy-related companies

The Edge — Tue, 18 Jun 2013 23:04:17 +0800

ISDN Holdings is planning to acquire equity stakes in two Indonesian energy-related companies.

The integrated engineering solutions provider is buying a 40.8% and 80.0% ownership in PT Prisma Karun Energy and PT Potensia Tomini Energi respectively.

The acquisition will allow ISDN a valuable foothold in the country’s fast expanding energy sector.