Market Wrap EOD by Broker – 28 Sept 12

STI  +0.91pts  3060.34pts        Vol -27% DoD 1726.57m shs        Val  +3% DoD   S$1515.37m

*   Singapore opened on its highs and drifted lower thru the day to close at its lows, with most sectors closing mixed. At the close, gains for SGX SP +1.6%, STE SP +2%, CIT SP +1.2%, CD SP +2.4% were offset by losses for JS SP -1.7%, GGR SP -0.7%.

*   Property sector actively traded, closing mixed, e.g. CIT SP +1.2%, CT SP +1%, CAPL SP -0.3%

*   FNN SP closed at S$8.88 offer price, after shareholders rejected the capital reduction plan but approved the sale of APB SP to Heineken. This means there will be no capital repayment to shareholders

*   Banks also traded mixed with DBS SP +0.1% on heavy volume, while UOB SP -0.4%, OCBC SP -0.1% closed lower

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PALM OIL TO AVERAGE 3,100 RINGGIT THIS YEAR, MINISTRY SAYS

MALAYSIA’S FINANCE MINISTRY COMMENTS ON PALM OIL IN REPORT
– CPO output seent 18.9m tons in 2013 vs 18.4m earlier this yr
– CPO yield up at 19.8 tons of FFB vs 18 tons this yr

Japanese are more civilised? lol…

Chinese Embassy in Japan Says It Got Envelope With Bullet Inside

Sept. 28 (Bloomberg) — The Chinese embassy in Tokyo said  it received a letter with a bullet inside yesterday, according to a statement posted on the embassy’s website today.
The embassy has urged Japanese police to secure the safety of Chinese organizations and employees in Japan, the statement said. Japan and China are locked in a dispute over contested islands that has disrupted bilteral trade.

TOKYO–Kirin Holdings Co. (2503.TO) is mulling selling its entire stake in Fraser & Neave

TOKYO–Kirin Holdings Co. (2503.TO) is mulling selling its entire stake in Fraser & Neave Ltd. (F99.SG), according to people with knowledge of the matter, in what would boost a Thai billionaire’s bid for the Singapore conglomerate.   Kirin, a major Japanese brewer and beverage maker, is now making what could be a crucial decision on its overseas investment in the wake of Thai billionaire Charoen Sirivadhanabhakdi’s offer to take control of the Singapore conglomerate, which has businesses in beer, property, soft drinks and publishing.   “A stake sale is among the options Kirin could take…but the situation is still fluid,” one person said Friday.   Kirin bought the stake in Fraser & Neave for about $970 million in 2010 as part of efforts to elevate its position to one of the leading food and beverage

 

Expected Earning Release – Oct 2012

Earning Dates Oct 2012

Dividend Calendar – Oct – Nov 2012

Dividend Table Oct – Nov 2012

Palm Oil Vs Soy Prices – By CS

■ The wide gap is puzzling. Palm oil prices have fallen by 16% in September and are now close to the bottom of their trading range, suggesting that further downside from here should be limited. The fall in palm oil prices is fundamentally puzzling because they have diverged from soyoil and crude oil prices.
■ Mind the gap! (1) Palm oil is now at a US$308/t discount to soyoil, the largest gap since 1987 (as far as our records go, ex-GFC). This large gap is probably unsustainable in the long term as importers should switch from the more expensive soyoil to the less expensive option – palm oil. (2) Palm oil
prices have correlated with Brent oil prices since 2007 with the emergence of biodiesel. The correlation, however, has broken down since July 2012.
■ Fundamentals should prevail. We believe that palm oil prices should rebound by the year-end. What are the potential positive catalysts? (1) Seasonally low production period at year-end; (2) Fall in inventories when demand picks up for the cheaper palm oil; (3) El Nino.