KEPPEL OFFSHORE & MARINE HAS SECURED A CONTRACT OF US$40 MILLION

A wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has secured a US$40 million contract tied to a tension leg wellhead platform (TLWP) for oil company, Repsol's Ca Rong Do field development off Vietnam.

The contract awarded to Keppel FloaTEC by Vietnam's state-owned PTSC Mechanical & Construction (PTSC M&C) involves providing engineering, technology and construction management support services for the TLWP.

Keppel O&M announced the contract award in a release after Thursday trading hours. It also said that the intellectual properties and employees of a joint venture with McDermott, FloaTEC LLC, have been transferred to Keppel FloaTEC LLC.

The Business Times understands these resources will be deployed for the execution of the TLWP contract.

The TLWP is to be built in Vietnam. Keppel FloaTEC's contracted work scope comprises hull and mooring engineering, topsides basic engineering and construction management support services. When completed, the TLWP will be located in a water depth of 320 metres.

PTSC M&C is the main contractor for the engineering, procurement, construction and installation of the TLWP.

The first of its kind in Vietnam, the TLWP will be deployed in the Ca Rong Do field development off southern Vietnam. The overall field development also includes a tender assisted drilling vessel and a floating production storage and offloading vessel.

Keppel O&M's acting chief executive, Chris Ong said: "With the close collaboration of our partners, PTSC and Repsol, backed by our complementary capabilities, we are focused on ensuring the successful delivery of this project. I am confident that this TLWP will become the preferred proven solution for projects of similar water depths."

PTSC M&C chairman and managing director, Dong Xuan Thang said: "This is a significant milestone for Vietnam in expanding our capabilities to build a complex production platform in-country. PTSC M&C is proud to be the main contractor for this first TLWP project in Vietnam and will work closely with all involved parties, including Keppel FloaTEC, to ensure the success of the project with the highest commitment of safety, quality and schedule."

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LIVE SHARE MARKET PICKS TO WATCH

Singapore shares opened higher on Thursday with the benchmark Straits Times Index up 2.31 points, or 0.07 per cent, to 3,176.07 at 9.09 am.

Some 64.3 million shares worth S$128.8 million changed hands, with gainers outnumbering losers 93 to 49.

Top gainers were Jardine C&C, JSH and JMH while top losers were City Development, Dairy Farm and Hongkong Land.

The US S&P 500 Index sold off late in the session to close marginally in the red on Wednesday while US Treasuries advanced, said Bloomberg.

Following Stocks may be affected by recent events or announcements:

AIMS AMP Capital Industrial Real Estate Investment Trust: AA Reit registered a distribution per unit (DPU) of 2.78 Singapore cents in its fourth financial quarter, 5.8 per cent lower compared to the corresponding quarter a year ago. Full-year DPU came in at 11.05 Singapore cents, a decline of 2.6 per cent from FY2016. For the three months ended March 31, gross revenue crept up 1.1 per cent to S$30.6 million year-on-year.

First Sponsor Group: The company reported a net profit of S$14.2 million in its first financial quarter, up 16.4 per cent from a year ago, its 10th consecutive quarter on quarter profit growth since its initial public offering in July 2014, said the mixed property developer, owner of commercial properties in China and the Netherlands, and provider of property financing services in China. For the three months ended March 31, the associate of Millennium & Copthorne Hotels plc saw revenue surging 78.6 per cent to S$81.3 million year-on-year.

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SGX MARKET ANALYSIS OF THE DAY

Singapore stocks and shares opened higher on Wednesday, with the benchmark Straits Times Index up 19.9 points, or 0.63 percent, to 3,163.93 at 9.03 am.

Some 137.7 million shares worth S$82.1 million changed hands with gainers outnumbering losers 112 to 31.

Among the top gainers were AEM, City Developments and DBS, while top losers were UOB Bank, Keppel Corp and SGX.

Asian markets also opened higher on Wednesday, following indices in the United States which were buoyed by an earnings-fuelled rally.

The Nasdaq Composite Index topped 6,000 for the first time on record while the Dow Jones Industrial Average rose more than 200 points amid strong quarterly results from blue-chip firms Caterpillar Inc and McDonald's Corp, said Bloomberg.

These SGX stocks could influence trading today:

CapitaLand Limited: Improved operating performance, including the sale of 45 units of The Nassim, and higher portfolio gains gave a lift to CapitaLand Limited's results in its first quarter.

Net profit rocketed 77.2 percent to S$386.8 million from the preceding year, the group said in a Singapore Exchange filing on Wednesday morning.

For the three months ended March 31, revenue edged up 0.4 percent to S$897.5 million from the preceding year.

Suntec Real Estate Investment Trust: The Reit recorded a distribution per unit (DPU) of 2.425 Singapore cents in its first quarter, up 2.3 percent from a year ago, it said in a Singapore Exchange filing on Wednesday morning.

For the three months ended March 31, its gross revenue climbed 12.9 per cent to S$88.4 million from the preceding year, mainly due to the rental contribution of its Sydney asset, 177 Pacific Highway.

CDL Hospitality Trusts: It reported on Wednesday that its distribution per stapled security for the first quarter of 2017 was 2.42 Singapore cents, up 9 percent from a year ago.

Total distribution to stapled security holders after retention for working capital rose 10 per cent year-on-year to S$24.1 million.

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BEST SINGAPORE STOCKS FOR INVESTMENT

Stocks & shares which may influence trading on Today:

Parkway Life Real Estate Investment Trust: The Reit reported a distribution per unit (DPU) of 3.28 Singapore cents, up 9.6 per cent from a year ago, Parkway Trust Management Limited said in a Singapore Exchange filing on Tuesday. Gross revenue crept up 0.2 per cent to S$26.9 million year-on-year despite divestment of four Japan nursing homes in December 2016. It was supported by contribution from a nursing home acquisition in March 2016, higher rent from Singapore properties and the appreciation of the Japanese yen.

Cambridge Industrial Trust: Its distribution per unit slipped 9.7 per cent to 1.004 Singapore cents in the first quarter of 2017, the manager of the trust said in a Singapore Exchange filing on Tuesday. For the three months ended March 31, 2017, its gross revenue was S$27.7 million, a marginal drop of 2.2 per cent from the same period a year ago.

CapitaLand Limited: It has made several key executive appointments, the real estate company said in a Singapore Exchange filing on Tuesday. They will take effect from May 1, 2017.

More Valuable Singapore Stocks of the Day:

• AEM
• ISR CAPITAL
• NET PACIFIC FIN
• JADASON
• CHASEN

Our recent Stock Recommendations:
SGX SIGNAL: BUY AEM AT 1.85 TARGET 1.92, 1.99 SL 1.77
Update: AEM AT 2.00, OUR FINAL TARGET DONE. 

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STOCKS FOR PROFITABLE STOCK INVESTMENT IN SGX MARKET

These stocks may influence trading on Monday:

Healthway Medical Corporation: Lippo-linked Gentle Care has entered into a sales and purchase agreement to buy up S$15 million of the S$60 million convertible notes issued to Gateway Partners by Healthway Medical Corporation (HMC), following the approval obtained during HMC's extraordinary general meeting on Friday.

Raffles Medical Group: Its net profit edged up 0.1 per cent to S$15.5 million in the first quarter of 2017, despite lower revenue. For the three months ended March 31, revenue dipped 1.7 per cent to S$114.9 million from the year-ago period. The marginal decline in revenue was due partly to softer than expected demand from foreign patients, it said.

AGV Group Limited: The catalist-listed company, which provides hot-dip galvanising services in Singapore and Malaysia, has clinched new contracts for some 29,000 tonnes of steel and iron for several public and private sector projects, including Seletar Airport and a mega oil refinery in Johor.

Valuable Singapore Stocks Of the day:

• JAPFA
• CITYNEON
• DECLOUT
• CHASEN
• AEM

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STOCK INVESTMENT SUMMARY OF THE WEEK

THE ebb and flow of geopolitical events dictated the direction of this week's trading. With one eye firmly cocked in the direction of North Korea where there is a stand-off brewing with the US and the other at the UK and Europe where key elections are upcoming, traders cut back on their positions, resulting in lowered daily liquidity.

On Friday, the Straits Times Index (STI) managed a second consecutive rise after four straight losses, gaining 1.95 points at 3,139.83. For the week, it lost 30 points or 0.9 per cent.

Turnover however, amounted to a mediocre 2.2 billion units worth S$1.09 billion and excluding warrants there were 279 rises versus 167 falls.

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SGX STOCK RECOMMENDATIONS FOR LIVE SHARE MARKET TRADING

Singapore stocks rose slightly on Friday morning as the US indicated overnight that tax reforms were gathering pace.

The benchmark Straits Times Index was up by 9.15 points, or 0.29 per cent, to 3,147.03 as at 9.01am.

Some 53.4 million shares worth S$62.6 million changed hands. Gainers beat losers 101 to 32.

US Treasury Secretary Steven Mnuchin said that a tax reform will be ready by year's end, according to wire reports.

THE following companies may affect their share price on Friday:

Ascott Residence Trust: Its distribution per unit (DPU) fell by 0.24 Singapore cents from a year ago to 1.51 cents for the first quarter of financial year 2017, even as gross revenue and revenue per available unit (RevPAU) rose. It said that the 2016 acquisition of the Sheraton Tribeca New York Hotel was the main reason for higher revenue and RevPAU, but lower DPU.

Frasers Commercial Trust: The manager of the trust reported a rise in distribution per unit (DPU) of 0.06 Singapore cents to 2.51 cents for the second quarter of the financial year 2017, when compared to a year ago. No management fees were taken in units for the quarter by the manager, while 40 percent of the management fees for the quarter were taken in units in Q2 FY16.

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• SINGMEDICAL
• MIYOSHI
• BROADWAY
• NOBLE

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SINGAPORE STOCK MARKET OPENED LOWER TODAY

Singapore stocks and shares fell slightly on a muted Thursday morning as Asian markets opened mixed.

The benchmark Straits Times Index fell 5.69 points, or 0.18 percent, to 3,120.59 as at 9.02am.

Some 65.2 million shares worth S$67.9 million changed hands, with losers beating gainers 81 to 58.

Top gainers included Haw Par Corporation and lifestyle furnishing company Nobel Design.

Top losers included real estate developer City Developments and Keppel Corporation.

Equities in Japan rose on strong export figures; Australian equities also climbed and South Korean shares were flat, Bloomberg reported.

This comes as oil prices, after slumping, gained some ground in early trading on Thursday.

THE following companies may affect their share prices on Thursday:

Frasers Centrepoint: Its Australian arm, Frasers Property Australia, together with a joint venture partner in a Sydney Central Park development, has entered into option agreements with an impact investment fund on the sale of a hotel and commercial space in a Central Park precinct.

Global Yellow Pages: Singapore's Court of Appeal sees two grounds for the publisher behind the Yellow Pages directories to file an appeal against an earlier High Court judgement that there was no copyright infringement on its works by its rival.

Ziwo Holdings: An associate company of the China-based investment holding company and two partners will invest 10 million yuan (S$2 million) in a joint venture to build electric-vehicle chargers for sale in Sichuan and other provinces in southern China. This comes just a month after another similar partnership, and is a bid by Ziwo to "revive its fortunes".

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SINGAPORE SGX MARKET STOCKS & SHARES UPDATE

Singapore stocks slid on Wednesday morning, echoing similar movements in Asian markets elsewhere that were spooked by political uncertainties.

The benchmark Straits Times Index dipped 0.42 per cent, or 13.14 points, to 3,124.40 as at 9.01am.

Some 39.8 million shares worth S$70.2 million were traded. Losers beat gainers 73 to 49, or about six losers for every four gainers.

DBS and UOB were among the top losers. TIH Limited, a closed-end fund, and mosquito repellent maker Haw Par Corporation were some of the biggest gainers.

The STI's early retreat followed what other Asian markets were seeing. Equity indices in Japan, Australia and South Korea all fell after the S&P 500 Index slid for the fourth time in five sessions, Bloomberg reported.

Safe havens stayed in favour as gold and bonds climbed ahead of presidential elections in France and on escalating tensions between the US and North Korea, Reuters reported.

The following companies may affect their share price on Wednesday

CapitaLand Commercial Trust: For the first quarter of financial year 2017, the trust manager reported a higher distribution per unit at 2.40 Singapore cents. Net property income grew by 34.3 per cent to S$69.9 million, while gross revenue increased by 33.9 per cent to S$89.5 million. 

Distributable income rose 9.9 per cent to S$71.3 million. It also reported that it has gained initial approval from the authorities for its plans to redevelop Golden Shoe Car Park.

Ezra Holdings: The offshore support provider's noteholders want the founding Lee family behind the debt-laden listed group to consider a rights issue as a restructuring plan is being drawn up for its Chapter 11 filing under the US bankruptcy code.

Healthway Medical Corporation: Ahead of the private healthcare provider's extraordinary general meeting to vote on the second tranche of S$60 million convertible notes, some minority shareholders have raised concerns whether private-equity fund Gateway Partners is there to make a quick buck at their expense.

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• SINGTEL 
• SINCAP
• WILMAR INTL
• TT INTL

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LIVE SHARE MARKET UPDATES

Singapore stocks and shares prices rebounded on Tuesday morning as economic and geopolitical woes eased.

The benchmark Straits Times Index rose 0.63 per cent, or 19.87 points, to 3,158.17 at 9.01am.

Some 41.4 million shares worth S$47.6 million changed hands. Gainers beat losers 120 to 23.

Top early gainers included DBS and UOB, while M1 and CDL Hospitality Real Estate Investment Trust were top early losers.

The Financial Times had reported on Monday that US Treasury Secretary Steven Mnuchin said dollar strength is good over long periods of time, contradicting earlier statements from US President Donald Trump that the greenback was too strong. Mr Mnuchin said that Mr Trump's comments were about the short term.

Bloomberg had reported that the US has received encouraging signs that China will act to pressure Kim Jong Un's regime to dismantle its nuclear weapons programme, but the Trump administration is holding on to military action - alone or with allies - as an option.

STOCK INVESTMENT PICKS FOR TODAY

THE following companies made announcements before the start of today's trading which may affect their share prices.

Super Group: The local food and beverage maker, known for its Super and Owl Coffee brands, will be ending its two-decade public listing after an offer from a Dutch company to take it private has met a crucial threshold. With the number of issued shares in public hands now below 10 per cent, trading of the shares will be suspended at the close of the offer on April 25.

Q & M Dental Group: Trading of its shares has been temporarily suspended, pending release of an announcement. No further details were shared in its filing to the Singapore Exchange on Tuesday morning.

Nippecraft Limited: The paper products maker has to make a cash exit offer to its shareholders, and has until May 9 to do so before trading of its shares ceases on the Singapore Exchange's main board.

Valuable Singapore Stocks of the Day:

• Golden Agri-Res
• BlackGoldNatural
• Alliance Mineral
• QT Vascular

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RISE IN THE SINGAPORE’S NON-OIL DOMESTIC BY 16.5%

SINGAPORE'S non-oil domestic exports (NODX) grew for a fifth straight month in March, posting a 16.5 per cent year-on-year jump.

This came after a growth of 21.1 per cent in February, 8.6 per cent in January, 9.1 per cent in December and 15.6 per cent in November, according to trade promotion agency International Enterprise Singapore.

But month on month the NODX slipped by a seasonally-adjusted 1.1 per cent last month following a 1.1 per cent increase in February.

Shipments to all top 10 major markets were up in March, with China (up 45.5 per cent), Taiwan (up 32.5 per cent) and Hong Kong (up 17.4 per cent) being the three biggest contributors to year-on-year NODX growth.

Electronic NODX increased 5.2 per cent year-on-year last month, easing from a 17.2 per cent jump in the previous month. Non-electronic N0DX rose 20.8 per cent after a 22.7 per cent spike in February.

Non-oil re-exports increased 9.4 per cent in March, following a 9.4 per cent rise in February.

Total trade rose 18.9 per cent last month, extending the 14.3 per cent increase in February.

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Thursday SGX Market Overview

Singapore's GDP grows 2.5% in Q1, below market expectations

SINGAPORE'S economy grew 2.5 per cent year on year in the first quarter of 2017, coming below market expectations.

MAS keeps S$ policy band at neutral for an extended period

SINGAPORE'S central bank opted to keep its neutral policy stance of zero per cent appreciation of the S$NEER (Singapore dollar nominal effective exchange rate), adding that such a stance is needed for an "extended period".

SATS unveils S$21m e-commerce airhub at Changi

SATS, a leading provider of gateway services and food solutions, on Thursday unveiled its new eCommerce AirHub at Changi Airport.

Fund managers oppose dual-class shares plan in Singapore

INTERNATIONAL investors including BlackRock Inc and the Ontario Teachers Pension Plan have voiced their concerns about moves to allow dual-class share listings in Singapore, saying they risk damaging the city's stock market and harming the region.

Swissco Holdings to dispose of vessel for US$7.2m

THE interim judicial managers of Swissco Holdings announced on Thursday that it has entered into a memorandum of agreement with Australian Maritime Systems Asset Holdings for a proposed disposal of a vessel for the consideration of US$7.2 million.

Two OKH Global subsidiaries served with writ of summons

OKH Global announced on Thursday that its wholly-owned subsidiaries, OKH Buroh and OKH Loyang, have been served with a writ of summons on April 3, 2017.

Singapore readies itself for truck-to-ship LNG bunkering

SINGAPORE took another step to ready its infrastructure for the supply of liquefied natural gas (LNG) as marine fuel with the launch on Wednesday of its first truck-to-ship LNG loading facility at Singapore LNG Corporation's (SLNG) terminal.

The STI

Singapore stocks close week lower as geopolitical uncertainty rises

ON Thursday, the Straits Times Index fell 16.77 points to 3,169.24, bringing its loss for the week to eight points. 

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IN THE FIRST QUARTER OF 2017 SINGAPORE’S ECONOMY GREW TO 2.5%

SINGAPORE'S economy grew 2.5 percent year on year in the first quarter of 2017, coming below market expectations.

The latest reading showed an easing from the 2.9 per cent growth in the previous quarter, based on advance estimates released by the Ministry of Trade and Industry on Thursday.

Quarter-on quarter, the economy contracted a seasonally-adjusted 1.9 per cent, reversing the strong rebound of 12.3 per cent seen in the preceding quarter.

The median forecast of 23 economists surveyed by the Monetary Authority of Singapore released earlier was for gross domestic product (GDP) in the first quarter to grow 2.6 per cent year-on-year, up from 1.3 per cent previously.

The manufacturing sector posted a 6.6 per cent growth year-on-year in the first quarter, moderating from the 11.5 per cent growth in the previous quarter.

Growth was supported primarily by robust output expansions in the electronics and precision engineering clusters, which outweighed output declines in the biomedical manufacturing, transport engineering and general manufacturing clusters.

On a quarter-on-quarter seasonally adjusted annualised basis, the sector saw a pullback in growth in the first quarter, contracting 6.6 per cent following the 39.8 per cent surge in the preceding quarter.

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• CapitaLand
• Addvalue Tech
• ISR Capital
• Ascendas Reit

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HOT STOCKS THAT COULD AFFECT TRADING TODAY

THE hot stocks that could affect their trading on Wednesday:

Ascendas India Trust completed the acquisition of a multi-tenanted building in the southern Indian city of Hyderabad on Tuesday. The trust entered into an amended share purchase agreement with the vendor, Phoenix Infocity, to acquire aVance4 for a total consideration some 1.94 billion rupees (S$42 million), including the deferred component.

Imperium Crown said it has received letters of intent for the remaining two of its properties in Tokyo for 3.05 billion yen (S$39 million).

Oxley Holdings' 50 per cent owned joint-venture Company has entered into a sale and purchase agreement to acquire the entire issued share capital of both Flitous Properties and Jemina Properties from Bank of Cyrus Public Company for 28 million euros (S$41.7 million).

More Valuable Singapore Stocks of the Day:

• SBI OFFSHORE
• UPP
• KSH
• ASIAPHOS

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EQUITY INVESTMENT PICKS FOR TUESDAY TRADING

THE following stocks that might affect their trading on Tuesday:

Rotary Engineering has secured two projects worth more than US$120 million in the United Arab Emirates and Thailand to provide engineering, construction and maintenance services for tank storage projects.

Australian miner Alliance Mineral Assets has entered into a lithium rights joint venture (JV) agreement with Lithco, a unit of Australia-listed Tawana Resources, furthering a farm-in agreement both parties signed in February. The latest deal outlines the terms and conditions in which the JV will conduct exploration and, if warranted, mining operations of lithium rights at the Bald Hill tenements in Western Australia.

Citic Envirotech has secured credit facilities of up to 20 billion yuan (S$4.07 billion) for five years from China Merchants Bank to finance projects in the water and environmental sectors. The credit facilities will support the integrated environmental solutions provider in financing new projects in water treatment, river restoration, sludge and hazardous waste treatment, and public-private partnership projects in the environmental industry.

A joint venture of Civmec has been awarded an engineering, procurement and construction contract for the Gruyere Gold Project in Western Australia. Including the 50 per cent share of this project, Civmec's order book stands at about S$526 million.

Keppel Offshore & Marine (Keppel O&M) has inked a term sheet agreement for the proposed sale of its Rotterdam-based shipyard, Keppel Verolme, to Dutch firm Damen Shipyards Group following a strategic review. The proposed sale is in line with the company's efforts to optimise its operations and rationalise its global network of yards.

Midas Holdings said its joint-venture company, CRRC Nanjing Puzhen Rail Transport Co, has bagged a metro train car supply contract worth 543 million yuan (S$110 million) in China. The supply contract was awarded by Shanghai Rail Transit Line Two Development Co for the Shanghai Metro Line 2 with delivery scheduled between January 2018 and November 2018.

Roxy-Pacific's subsidiary, Roxy-Pacific Goulburn, has signed a heads of agreement with investment firm I-Prosperity Group and private firm Toga D&C to sell them its freehold office building at 59 Goulburn Street in Sydney for A$158 million (S$166.3 million).

Spackman Entertainment Group issued a positive profit guidance that it expects to report a net profit for the first quarter of financial year 2017 versus a net loss in the previous corresponding period.

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• JUBILEE IND
• CHINA AVIATION
• CHASEN
• KIMLY
• SPACKMAN

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HOT STOCK PICKS FOR INTRADAY STOCK INVESTMENT

THE following stocks made announcements after the stock market closed on Friday that could affect their trading on Monday:

CWT: Hong Kong-listed HNA Holding Group on Sunday evening announced a pre-conditional voluntary general cash offer through a Singapore-incorporated subsidiary for all issued and paid-up ordinary shares in Singapore-listed CWT. The offer, pegged at S$2.33 per share, values CWT at just under S$1.4 billion.

Vard Holdings: The group has won a contract for the design and construction of a live fish transportation vessel for Fjordlaks Aqua in Alesund, Norway. The hull of the vessel will be built at Vard Braila in Romania but the final vessel will be delivered from Vard Aukra in Norway in the third quarter of 2018.

Tuan Sing Holdings: The property developer is buying Sime Darby Centre in Bukit Timah for S$365 million. The property, located at 896 Dunearn Road, sits on commercial land of 13,088.8 square metres that is part-freehold and part-999 years leasehold. The group said it plans to reposition the property into a hub of activities in due time.

Sembcorp Industries: The group has won the bid for a wind-power project in India which is estimated to cost about 19 billion rupees (S$415 million). The project, which will have a capacity of close to 250 megawatts, will be located in the southern state of Tamil Nadu and connected to India's central transmission utility.

Keppel Infrastructure Holdings: The company's wholly owned subsidiary, Keppel Seghers, has completed the capacity upgrade at the Ulu Pandan NEWater Plant. The upgrade work boosted the plant's designed and contracted capacity from 148,000 cubic metres (32 million gallons per day) to 162,800 cubic metres (35 million gallons per day).

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IMPORTANT POINTS TO KNOW ABOUT THE NEW ASEAN-FOCUSSED DIVIDEND ETF ON SGX

Banking sector makes up 26.5% of the index.

A new exchange traded fund (ETF) that focuses on dividend stocks listed on ASEAN stock exchanges was launched in Singapore this morning.

According to a press release from Singapore’s bourse operator Singapore Exchange, the One STOXX ASEAN Select Dividend ETF is the first ETF listing in Singapore by OneAM, Thailand’s largest ETF issuer and a leading asset management firm. The ETF will track the STOXX ASEAN Select Dividend 30 Index.

Here’re five interesting pieces of information about the STOXX ASEAN Select Dividend 30 Index I found from its factsheet (dated 28 February 2017):

1. The index picks high-dividend paying companies from six ASEAN countries, namely, Malaysia, Philippines, Thailand, Vietnam, Singapore, and Indonesia. There are 30 companies in total in the index.
2. Companies listed in Singapore, Malaysia, and Indonesia make up the bulk of the index. Singapore accounted for almost 24% of the index with Malaysia a close second at 23.5%. Indonesia is in third place with 22.7%. The index sets a maximum cap of seven companies per country (with the exception of Thailand, which has a cap of five) to keep it diversified. There is no minimum cap.
3. The banking sector makes up 26.5% of the index. This is the sector with the highest weightage. The next highest would be industrial goods and services, followed by oil and gas, and then telecommunications.
4. Stocks that have a dividend payout ratio of over 80% are excluded. The index also does not have any real estate investment trusts. The list of component stocks is reviewed on a quarterly basis.
5. The top 10 components of the index include two familiar Singapore companies. That would be oil rig builder and property development conglomerate Keppel Corporation Limited (SGX: BN4), and the utilities and marine engineering company Sembcorp Industries Limited (SGX: U96). The former holds a weightage of 3.69% while the latter accounts for 3.58% of the index.

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SGX HAS SET UP A SUBSIDIARY TO HANDLE ITS REGULATORY FUNCTIONS

THE Singapore Exchange (SGX) has set up a subsidiary to handle its regulatory functions and appointed veteran lawyer and director Tan Cheng Han as the new unit's chairman.

Prof Tan will step down from his directorships at Chuan Hup Holdings, Keppel Reit Management, Global Yellow Pages, Anwell Technologies and Singapore Technologies Marine. He will also resign as deputy chairman of the SGX Listings Advisory Committee, an independent body that decides on unusual listing-related issues for the exchange.

"The resignations ensure Professor Tan is independent of SGX, its members and any company listed on SGX," the market operator said.

The new regulation unit is called Singapore Exchange Regulation Pte Ltd, also known as SGX Regco. Its creation was first mooted in July 2016 as a way to more formally segregate SGX's commercial and regulatory obligations.

"The formation of SGX Regco is aimed at enhancing the governance of SGX as a self-regulatory organisation," SGX said. "It will make more explicit the segregation of SGX Regco's regulatory functions from SGX's commercial and operating activities. SGX Regco will undertake all front-line regulatory functions now undertaken by SGX's regulation unit and have a separate board of directors from SGX."

Current SGX chief regulatory officer Tan Boon Gin has been named the chief executive and a board member of SGX Regco. Other directors are being identified and will be appointed soon.

Prof Tan described a vision for SGX Regco as a regulator that has its ear to the ground and eyes focused forward.

"A regulatory company independent of SGX, yet pragmatic and innovative, while also attuned to market developments, is a development the market is closely watching," he said.

More Valuable Singapore Stocks of the Day:

• LEY CHOON
• KOP
• SPACKMAN
• KOH ECO

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SGX STOCK INVESTMENT PICKS FOR DAY TRADING

SINGAPORE SGX market prices opened lower on Thursday with the Straits Times Index down 8.95 points to 3,167.6.

Some 98.1 million shares worth S$57 million were traded as at 9am. Losers outnumbered gainers 70 to 62.

THE following SGX stock investment picks may be in focus today:

Advance SCT: The supplier of copper-based products said on Wednesday the result of the scheme meeting with its creditors is now uncertain, and that the company is exploring its legal options.

KS Energy: The group said on Wednesday although it expects the overall operating cash flow to remain negative in the next 12 months, it anticipates generating positive cash flows from existing and prospective rig charter contracts.

IEV Holdings, Lorenzo International: The two firms were queried separately on Wednesday by Singapore Exchange on the unusual movement in the volumes of their shares.

M1, Singtel and StarHub: Stock prices of all the three listed Singapore telcos fell marginally on Wednesday, following the conclusion of the Info-communications Media Development Authority's first stage of the latest round of general spectrum auction on Tuesday.

More Valuable Singapore Stocks of the Day:

• BLACKGOLDNATURAL
• NET PACIFIC FIN
• KSH

Our recent Stock Recommendations:
1. SGX INTRADAY SIGNAL: BUY BLACKGOLDNATURAL AT 0.184 TARGET 0.190, 0.195 SL 0.177
Update: BLACKGOLDNATURAL AT 0.195, OUR FINAL TARGET DONE.

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SGX MARKET OPENS LOWER WHILE STI ROSE TO 12 POINTS

SINGAPORE share prices opened lower on Tuesday with the Straits Times Index down 1.74 points to 3,185.77.

Volume was 31.3 million shares worth S$42.1 million as at 9am.

Gainers outnumbered losers 60 to 33.

STI ROSE TO 12 POINTS

THE Straits Times Index on Monday kicked off the week with a 12.4-point rise to 3,187.51 thanks mainly to gains in Jardine stocks. Overall trading however, was quiet with turnover amounting to 2.3 billion units worth S$1.1 billion compared to Friday's S$1.6 billion. Excluding warrants there were 273 rises versus 189 falls throughout.

Brokers described the session as cautious and with Wall Street very much in mind. The Dow futures at 5pm stood 19 points higher, suggesting a slightly firm opening for the US market. European markets however, opened mostly in the red.

Valuable Singapore Stocks of the Day:

• KSH
• CHASEN
• JADASON
• SKE

Our recent Stock Recommendations:
1.SGX INTRADAY SIGNAL: BUY JACKSPEED AT 0.171 TARGET 0.177, 0.183 SL 0.164
Update: JACKSPEED AT 0.184, OUR FINAL TARGET DONE. GIVEN YESTERDAY FROM 0.171.

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