Market EOD Wrap by broker – 25 Jan 13

FSSTI +0.6% +20pts 3,269 on T/O US$1.5bn (+5% DoD) Singapore grinds higher closing at intra-day highs with JM +3% & WIL +3.8% leading in a broad-based rally. Developers outperformed whilst defensive REITs & Telcos lagged. O&M plays ended mixed with KEP +1% post inline results whilst small-caps counters traded softer: EZI -0.8% EZRA -1.2%

* O&M: KEP +1% despite 2012 core NP S$1.9bn coming in below expectations. KEP announced a dividend in-specie of 1 KREIT share for every 5 Kep Corp shares. EZI -0.8% and EZRA -1.2% underperforming today vs NCL +3.9%

* COMMODITIES: Mixed with NOBL +0.8% and OLAM +0.9% leading
OLAM raised US$712.5m($877m) from a 10%-oversubscribed bond sale, which was backed by its two largest shareholders.

* MCT +1.2% 3Q distributable income rose 17.1% to $31.2m, helped by revenue growth of its assets.