Singapore
What’s Relevant
Singapore benchmark index, the Straits Times Index closed down 42pts
yesterday. Market turnover amounted to 2.3bn units worth S$1.96bn. The big
drag that constitute to the decline was CapitaLand. Sentiments will
outweigh fundamentals at this point in time. As of writing, the Aussie and
Japanese indices are already down close to 2%, suggesting that more
selling pressure ahead when the Singapore market opens this morning.
 
Corporate news
Parkway Hospitals Singapore has teamed up with Overseas Assurance Corporation, a
wholly-owned subsidiary of Great Eastern Holdings, to create a
post-surgical care insurance policy which is said to be the first of its
kind in Singapore.
SIA Engineering Company Limited (SIAEC) today announced that its special-purpose wholly-owned subsidiary,
SIAEC Global Private Limited, has signed a Memorandum of Understanding
(MOU) with Gulf Technics to set up and operate a facility in Bahrain for
the maintenance, repair and overhaul (MRO) of aircraft. Gulf Technics is a
wholly-owned subsidiary of Mumtalakat Holding Company, the investment arm
of the Kingdom of Bahrain, and a sister company of Gulf Air.
Sinotel Technologies has proposed to place up to 28m new shares at S$0.5755 each. The placement
price represents a discount of about 10% to the weighted average price of
trades done on 20th Jan. The placement shares will represent about 8.3% of
Sinotel’s enlarged share capital. UOB Kay Hian Pte Ltd is the placement
agent.
 
Trades for the Day
Technically?
Ezra Holdings (EZRA SP; S$2.37 ? SELL) ?The long term uptrend for Ezra is still intact but after hitting high of
S$2.63, it formed a bearish engulfing candle.
Marco Polo Marine (MPM SP; S$0.56 ? SELL) ? Technical indicators are calling for more downside first. It could soon
test its S$0.525, its 30-day SMA and S$0.50, its 50-day SMA.
Otto Marine (OTML SP; S$0.49 ? SELL) ? Since the stock rallied in a parabolic manner, this sharp rise is usually
not sustainable in the long term.