OSPL - Good Morning S'pore - Central Dealing Desk

Stock Name: SingTel
Company Name: SINGTEL

Research House: OCBC

Price Call: HOLD

Target Price: 3.10

Stock Name: StarHub
Company Name: STARHUB LTD

Research House: OCBC

Price Call: HOLD

Target Price: 2.80

Stock Name: M1
Company Name: M1 LIMITED

Research House: OCBC

Price Call: HOLD

Target Price: 2.58

Market Compass

08 September 2011~ Good Morning Singapore!

Singapore Idea Snippets:

Overall Market Stocks rose, rebounding from a four-day global slump that drove valuations to the lowest level since 2009, amid speculation President Barack Obama's plan for more than $300 billion in economic stimulus will boost growth. Treasuries, German bunds and gold fell as the dollar snapped a six-day rally. The MSCI All-Country World Index surged 2.8 percent and the Standard & Poor's 500 Index jumped 2.9 percent at 4 p.m. in New York. The 10-year Treasury yield added six basis points to 2.04 percent after reaching a record low yesterday, and Germany's yield climbed six basis points to 1.91 percent. The dollar weakened against the euro after legal challenges to Germany's role in the region's rescue funds were rejected by the nation's top court. Gold dropped the most in two weeks and copper advanced above $9,000 a metric ton in London. Singapore Market Singapore's economy may expand less than previously estimated in 2011, a central bank survey of economists showed, a slowdown that may not ease pressure on the currency to appreciate as inflation quickens. Gross domestic product may rise 5.3 percent this year after growing 14.5 percent in 2010, according to the median estimate of 20 economists in a survey by the Monetary Authority of Singapore released today. Last quarter's poll had a median forecast of 6.2 percent for this year. CapitaLand Ltd., Southeast Asia's biggest developer, rose the most in more than two years after it spent S$3.7 million ($3.1 million) buying back shares. The stock climbed 7.3 percent to S$2.64 at the 5:05 p.m. close of Singapore trading, the biggest one-day gain since May 27, 2009. It earlier advanced as much as 7.7 percent. The company bought 1.5 million shares, which made up 0.035 percent of its stock, at between S$2.42 and S$2.45 apiece, according to a statement to the Singapore exchange yesterday. Price competition in fiber-broadband mkt., economic slowdown challenge sector, analyst Ramakrishna Maruvada writes in report. * Singapore Telecom maintained at hold, PT S$3.10 * StarHub cut to hold from outperform, PT S$2.80 * M1 cut to hold from outperform, PT S$2.58 Singapore's Straits Times Index gained 2.1 percent to 2,832.13. Anwell Technologies Ltd. (ANW SP): The maker of solar modules said a subsidiary is boosting its stake in Henan Sungen Solar Fab Co., after which the company will become an indirectly-owned unit of Anwell. Its shares rose 1.7 percent to 30.5 Singapore cents. Boustead Singapore Ltd. (BOCS SP): The engineering company said one of its subsidiaries, Boustead Projects Pte. Ltd., was awarded an S$11 million ($9.1 million) contract to build an Asia-Pacific regional data center for a healthcare and pharmaceutical corporation. The stock was unchanged at 85 Singapore cents. Global Logistic Properties Ltd. (GLP SP): The owner of warehouses in China and Japan said it signed several new leasing agreements in Western China, where it is seeing "rapidly-growing" demand for its facilities. The stock dropped 1.1 percent to S$1.75. United Overseas Bank Ltd. (UOB SP): The lender said it increased its stake in Vietnam's Southern Commercial Joint-Stock Bank to 19.99 percent. The shares climbed 2.1 percent to S$18.10. SEA Market Malaysia said it expects to lure $11 billion in foreign direct investment this year as it moved up five places in the World Economic Forum's global competitiveness rankings, overtaking South Korea and New Zealand. The Southeast Asian nation climbed to 21st out of 142 countries after taking steps to boost government transparency and cut business costs, International Trade and Industry Minister Mustapa Mohamed said, citing the forum's Global Competitiveness Report for 2011-12 released today. It dropped two places to 26th spot in the same survey a year earlier. Oil Oil climbed for a second day in New York on speculation a storm building in the Gulf of Mexico poses a threat to supply in the U.S., amid shrinking crude stockpiles in the world's biggest consumer. Crude for October delivery advanced as much as 77 cents to $90.11 a barrel in electronic trading on the New York Mercantile Exchange and was at $89.87 at 8:47 a.m. Sydney time. The contract yesterday rose $3.32 to $89.34, the highest close since Aug. 3. Prices are 20 percent higher the past year. Gold Gold may decline for a third day as global equities rallied amid optimism a plan by President Barack Obama will aid growth in the world's largest economy, eroding demand for haven investments Gold for immediate delivery was little changed at $1,814.65 an ounce by 6:41 a.m. Singapore time, after earlier falling as much as 0.7 percent. Bullion slumped 4.4 percent in the past two days, dropping from a record $1,921.15 on Sep. 6. Futures in New York were also little changed at $1,819.50. (Source: Bloomberg)