EQUITY PICKS FOR PROFIT INVESTING

Singapore Exchange: SGX will mandate all mainboard companies to allocate to retail investors at least 5 per cent, or S$50 million, whichever is lower, of their initial public offering (IPO). This new rule will kick in from May 2, 2017.

Separately, it is consulting the public on proposed adjustments to increase the minimum bid size for stocks trading in the S$1.00 to S$1.99 (from the current S$0.005 to S$0.01) range; widen the forced order range for stocks; and reinstate a mid-day break from 12 noon to 1pm.

mm2 Asia: Film producer and distributor mm2 Asia on Wednesday updated that it has been advised by Unusual Pte Ltd that the latter plans to lodge its preliminary offer document with the Singapore Exchange after obtaining the shareholders' approval for the proposed listing at an extraordinary general meeting on March 20, 2017.

Ezion Holdings: Oilfield services provider Ezion Holdings is understood to be in final talks with the interim judicial managers (IJMs) of Swissco Holdings, to take over four rigs co-owned by joint ventures between the two parties at a total consideration of over US$16 million.

The Business Times understands that Ezion has upped its offer to over US$4 million per rig after Swissco's IJMs pushed back the earlier takeover bid priced at about US$3 million per rig.

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SGX MARKET BILLIONAIRE STOCKS REGISTER 7.5% GAIN

Real estate, industrial sectors dominate.

Singapore’s 102 primary-listed stocks with over $1 billion in market capitalization have averaged a 7.5% gain in the 2017 year-to-date (YTD), taking their average 12-month return to 15.4%.

Business returns of the stocks also tracked the average return on equity (ROE) for the past 12 months and five years, reaching 11.7%

There were 86 gainers and 16 decliners, and the average of 7.5% total return for the year thus far is higher than the 2.7% for the same threshold size of stocks in Indonesia, Thailand, and Malaysia.

Real Estate and Industrial stocks dominated performance leaders, with five of the ten best performers coming from Real Estate and four from Industrial. Together, the 10 best-performing stocks averaged a 27.5% total return. The strongest performers for the past 12 months were GSH Corp, China Aviation Oil Singapore, and Japfa.

The least performing stocks, meanwhile, averaged a -6.4% decline in total return, representing either the Consumer Staples or Consumer Discretionary sectors.

Valuations have also been consistent with P/B ratios at 1.9x for the past 12 months, in addition to the past five years. The average P/E ratio of the billionaire stocks is currently at 23.3x, higher than the five-year average of 20.3x. The 102 stocks average an indicative dividend yield of 3.6%.

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EQUITY TRADING PICKS: EMAS OFFSHORE, CHIP ENG SENG, MAPLETREE INDUSTRIAL TRUST

EMAS Offshore: EMAS on Monday requested a trading suspension "with immediate effect", according to its filing to the Singapore Exchange.

It had warned of plans to ask for a voluntary suspension of its shares over the weekend, following an announcement last Friday by the Oslo bourse, where the firm is also listed, that it has suffered the same fate in Norway.

Chip Eng Seng: Construction and property development group Chip Eng Seng sold 420 units - or more than half of the project - over the first weekend sales of Grandeur Park Residences in the heart of Tanah Merah.

The condominium project is undertaken by Chip Eng Seng's property development arm CEL Development. The weekend sale includes two commercial shops. The one-bedroom units were the most sought after.

Mapletree Industrial Trust: MIT on Sunday announced that it will develop a build-to-suit (BTS) data centre for an established data centre operator at an estimated cost of S$60 million. The data centre development project, MIT's third such project, will be located in Singapore's West region.

The six-storey purpose-built data centre with a gross floor area of about 242,000 square feet will be fully leased to the client for an initial term of more than 10 years with staggered rental escalations and renewal options. The project is expected to be completed in the second half of 2018.

SGX Market Penny Stocks of the Day:

• ISR
• Sabana,Noble
• YZJ Shipbldg SGD
• Sembcorp Marine

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KEPPEL DC REIT CAN EXPECT A GOOD YEAR IN SGX MARKET

For 1Q17, it reflected four months of contribution from SGP3.

Shareholders of Keppel DC REIT can expect a good year for the group, as it completed its acquisition of 90% interest in an SGP 3 in the past month.

According to CIMB, an agreement was reached so that the economic effect of the acquisition would have occurred on December.

"Hence, 1Q17 distributable income would have four months of contributions from SGP 3," CIMB said, noting that for the whole year, DPU could increase 1.7%. It noted this additional one-month contribution from SGP 3 in 1Q17 could lend some support to unit price strength.

It added, "The acquisitions in FY16 would boost FY17 headline DPU growth by 21.3% yoy or 11.6% yoy vs. adjusted FY16 numbers, excluding pro-rata preferential offering and one-off property tax refund." 

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STOCK PICKS TO WATCH FOR PROFITABLE STOCK INVESTMENT

The following stocks may be in focus on Friday.

EZRA Holdings on Friday said that the Chapter 11 filing on associated company Emas Chiyoda Subsea (ECS Group) does not deal with its charter-hire liabilities of hundreds of millions that relate to vessels chartered by the ECS Group. The embattled oil-and-gas firm added that it will still face going concern issues if creditors make claims against these liabilities that are guaranteed by Ezra. It has lifted a trading halt on its shares.

Shipbuilder Vard Holdings on Thursday said that it has secured a 350 million Norwegian krone (S$58.5 million) contract for the construction of one pelagic trawler for Shetland-based Research Fishing Company.

Diversified retailer Dairy Farm International's net profit rose 10.5 per cent to US$469.0 million in 2016 as margins improved in its food and Ikea businesses, and contributions rose from associates and joint ventures.

Spackman Entertainment Group on Thursday said that it has entered into an agreement with UOB Kay Hian to be its placement agent, as the company sought to place out up to 38.1 million new shares at S$0.161 apiece.

Lifted by a US$1.1 billion gain from higher value of Hongkong Land's investment property portfolio, Jardine Matheson Holdings' (JMH) net profit for the full year climbed 39 per cent to US$2.5 billion.

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DBS GROUP HOLDINGS EXPECTS TO EXPAND ITS WEALTH MANAGEMENT OPERATIONS

DBS Group Holdings expects to expand its wealth management operations as Asia's wealth grows, accounting for as much as 20 per cent of the bank's total income over the next few years, Piyush Gupta, the CEO of Southeast Asia's largest bank by assets, said.

"Our (wealth management) business has doubled in the last 5 or 6 years and is close to 15 per cent of DBS's top line income. Our ambition in the next few years is to get it to 20 per cent of the bank," said Mr Gupta, ahead of a Reuters Newsmaker in Singapore on Thursday.

Under Mr Gupta, 57, who took over the reins in 2009, DBS has more than doubled its profits, broken into the ranks of top five private banks in Asia Pacific and turned around its underperforming Hong Kong unit.

DBS and the private banking arm of rival Oversea-Chinese Banking Corp are jostling for market share in a highly competitive wealth management business in Asia, led by global players such as UBS and Citigroup.

DBS has diversified its business franchise to focus more on transactional banking and wealth management but the bank still earned about 70 per cent to 80 per cent of its profits from Singapore in recent years, highlighting its dependency on its home market.

Mr Gupta said he does not believe acquisitions "at scale" are the way to go for DBS, but the bank will continue to consider bolt-ons to expand its presence overseas.

Income from DBS' wealth management unit jumped 19 per cent to S$1.7 billion in 2016. State investor Temasek Holdings owns a nearly 30 per cent stake in DBS.

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SINGAPORE SGX MARKET SHARES RISE 14 POINTS AHEAD

SHARES in the Singapore bourse started Wednesday's trading higher with the key Straits Times Index up 14.03 points at 3,110.64 at 9.03am.

Some 69 million shares worth S$242 million were done with 63 counters up and 68 counters down.

Wall Street pulled back overnight on Tuesday ahead of US President Donald Trump's address to Congress.

"Asian markets will find itself with a flood of leads in today's trade, and could probably serve as a good early assessment for reactions in the other half of the globe," said IG Markets strategist Jingyi Pan.

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