Warrants Highlight

SembMarine - 2nd Big Contract in 3 Days, US$219mn

Singapore Market Wrap

Ain't no sunshine when HK's gone

With Hong Kong and China bourses shut for the day, Singapore shares traded their third quietest day this year. The Fed's comments that it was holding off on increasing monetary accommodation also did little to bolster markets. The STI fell 1.0 % day-on-day (dod) to its 2,985.04 - its lowest closing in more than a week.

June Call STI 3000MBeCW120629 (P8BW) exercise level 3,000.*
June Put STI 2900MBePW120629 (P8CW) exercise level 2,900.*
Longer dated Call STI 3100MBeCW130131@ (PA7W) exercise level 3,100.*
Longer dated Put STI 2800MBePW130131@ (PA8W) exercise level 2,800.*

Offshore marine giants hold up
Oil rig builders Keppel Corp and SembCorp Marine held up relatively well given the broad sell-off in the overall bourse yesterday. The former lost a mere 0.3% dod to $10.93 while SembMarine with its 0.8% dod loss to $5.23 was also less than the STI's.

Both companies had announced contract wins on Tuesday morning. Keppel Corp's Am FELS unit secured a US$205 million contract to build a jack-up rig for Mexico's Perforadora Central SA de CV while SembMarine won a US $568 million contract to build a semi- submersible drilling rig for Norway's North Atlantic Drilling
Ltd.

Call KepCorp MBeCW120702 (P0WW) exercise price $10.50.*
Call KepCorp MBeCW120801 (P1HW) exercise price $11.50.*

Call SembMar MBeCW120905 (P1FW) exercise price $5.20.*
Call SembMar MBeCW121001 (P8OW) exercise price $5.80.*

 
Overnight Market Wrap 

Spooked by Spanish Auctions

Both European and US indices tumbled yesterday, with S&P500 falling 1.0% to 1,398.96. Spanish 10-year yield rose 24 basis points to 5.69%. Yesterday, Spain only managed to sell EUR 2.59bn of bonds maturing between 2015 to 2020, compared to a planned maximum of 3.5bn Euros.

In US, report showed that private sector job growth slowed in March, adding only 209,000 jobs, down from a revised 230,000 in February. Investors will be focusing on the non-farm payrolls figure tomorrow. The Euro retreated further to $1.3144, the weakest level since March 16.

Overnight Markets

Indices	Last	Change
STI	2985.04	-1.0%
HSI	20790.98	1.3%
DJIA	13074.75	-0.9%
Nasdaq	3068.09	-1.5%

Corporate News

Corporate Announcements

SembCorp Marine received a US218.5mn contract to construct a jack-up rig for Gulf Drilling International Ltd.

Results Announcement
Tue 17 Apr: SGX 3Q12

Ex-Dividend Date
Wed 25 Apr: Keppel Corp ($0.26), SembMarine ($0.20)
Wed 26 Apr: STX OSV ($0.10)
Fri 27 Apr: OCBC ($0.15)
Mon 30 Apr: Cosco ($0.03)
Fri 4 May: Wilmar ($0.031)
Mon 7 May: UOB ($0.40), CapitaLand ($0.08)
Wed 9 May: DBS ($0.28)