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UBS sees F1 revenues up 9.2% a year till 2016-note

Reuters — Wed, 30 May 2012 17:15:45 +0800

UBS AG expects revenue at motor racing business Formula One to grow 9.2% a year from 2011 to 2016, driven by an increase in the number of races and rising advertising and sponsorship sales, a research note seen by Reuters on Wednesday showed.

Revenue should reach US$2.37 billion ($3 billion) in 2016 from US$1.52 billion in 2011, UBS analysts estimated in the report dated May 21.

Singapore stocks lower at midday; Noble bucks trend

Reuters — Wed, 30 May 2012 12:56:25 +0800

Singapore shares were lower at midday following two day of gains, easing on growing fears over Spain's banking and fiscal problems and on indications that China may take a cautious approach to further economic stimulus.

The benchmark Straits Times Index was down 0.3% at 2,793.49, though above an intraday low of 2,779.31.

GIC, Canada fund among bidders for $1.8b Kyobo stakes-sources

Reuters — Wed, 30 May 2012 12:53:53 +0800

Government of Singapore Investment Corp (GIC) and Canada’s Ontario Teachers Pension Plan are among final bidders to buy stakes in South Korea’s unlisted Kyobo Life Insurance, sources said, in deals worth up to US$1.4 billion ($1.8 billion).

Daewoo International Corp and state-run Korea Asset Management Corp (Kamco) are offering about a one-third stake in the life insurance company in two separate sales. The final bids for the stakes were made on Tuesday, the sources, who had direct knowledge of the matter, told Reuters.x

Buy rigbuilders in selldown-Nomura

Reuters — Wed, 30 May 2012 12:48:39 +0800

The recent sell-down in equities offers a good chance to increase weightings in Singapore oil rig builders such as Keppel Corp and Sembcorp Marine, Nomura said.

The broker kept its buy rating on both companies, and has a target price of $13.80 for Keppel and $6.08 for Sembcorp Marine. Curent levels are $10.14 and $4.50, respectively.

OCBC cuts Olam target price

Reuters — Wed, 30 May 2012 12:45:33 +0800

OCBC Investment Research lowered its target price on commodity company Olam International to $1.86 from $2.24, saying growing uncertainty in Europe may continue to cause increased volatility in commodity stocks.

Shares of Olam were down 0.9% at $1.68. They have fallen about 21% so far this year, underperforming the Straits Times Index’s gain of 5% in the same period.

Biosensors up after earnings

Reuters — Wed, 30 May 2012 12:43:12 +0800

Shares of medical device maker Biosensors International Group rose as much as 2.7% after it posted better-than-expected fourth-quarter earnings.

Biosensors said net profit for the quarter rose 49.5% to US$27.2 million ($34.8 million), helped by a surge in sales and revenue from licensing and royalties.

Credit Suisse AG - Corporate moves

The Edge — Wed, 30 May 2012 11:03:16 +0800

Christopher Faddy has been appointed MD/head, Non-Japan Asia Distribution, Asset Management wef May
Work experience: Head, distribution, Asia, Barclays Capital; ED, Goldman Sachs JB Were

British & Malayan Trustees - Corporate moves

The Edge — Wed, 30 May 2012 11:01:00 +0800

William Cornelius Lexmond has been appointed non-ED wef May 24
Work experience: Senior wealth planner, Citibank and UBS; independent wealth ownership consultant

Amtek Engineering - Corporate moves

The Edge — Wed, 30 May 2012 10:54:12 +0800

Ang Tong Huat has been appointed group COO, precision engineering division wef July 1
Work experience: President, China operations, Amtek Engineering Ltd; president, Europe operations, Amtek Engineering Ltd

The Edge Singapore RSS Feed

UBS sees F1 revenues up 9.2% a year till 2016-note

Singapore stocks lower at midday; Noble bucks trend

GIC, Canada fund among bidders for $1.8b Kyobo stakes-sources

Buy rigbuilders in selldown-Nomura

OCBC cuts Olam target price

Biosensors up after earnings

Credit Suisse AG - Corporate moves

British & Malayan Trustees - Corporate moves

Amtek Engineering - Corporate moves

EUR/USD Performance Chart as at 1:00p.m. Singapore time, 30/05/2012