Opportunities
After its partner Golden Myanmar Sea Company became Nokia's distributor in Myanmar, mDR's (A27, $0.014) unit MDR Myanmar has been appointed the after-market service provider for Nokia in the country.
Comments: Good news. Stock may see positive price action and interest in the short-term.
Cosco (Nantong) Shipyard, a subsidiary of Cosco Corp's (F83, $0.725) 51%-owned Cosco Shipyard, secured a US$200m contract to build a harsh-environment semi-submersible accommodation vessel from Mexico-incorporated Cotemar SA de CV.
Comments: Positive, Cosco is clearly getting a foothold into the rig market. Profitability may not be high now but this may improve as time goes along. Longer term call.
Thai Bev (Y92, $0.590) - UBS initiates coverage with Sell Rating and S$0.51 TP
Comments: Not good for the short-term. Long term prospects are in listing of some of Fraser’s properties as a REIT early next year.
Commentary
Clearly, the markets are not quite confident about Bernanke’s vague remarks recently, regardless of what the media reports. This can be seen from weird swings in the market and an unusual lack of depth in the market. By “depth”, I mean presence of buyers and sellers. US markets did not perform strongly positive despite seemingly positive comments from the Fed.
In Singapore, the market has been dominated by penny stocks over the past few days. This situation seems likely to continue over the next few weeks as uncertainty on the general market continues.
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