SGX Stocks and Warrants
Bumitama - Strong Rebound after Losing Streak
Warrants Highlight
Bumitama - Strong Rebound after Losing Streak
| Code | Name | Type | Expiry | Exercise Price |
| P9EW | BumitamaMBeCW120702 | Call | 02-Jul-12 | 0.85 |
| P9FW | BumitamaMBeCW120903 | Call | 03-Sep-12 | 1.00 |
Bumitama Agri staged a 2.2% rebound to close at $0.93 yesterday, breaking its 3-day slide. Last Thursday, the stock hit its intraday high of $1.02 on its first day of IPO. According to CEO Gunawan Lim, the IPO was 31 times oversubscribed.
Last week, Bumitama warrant P9FW was popular with investors, with over 27mn warrants traded in the first two days.
About Bumitama Agri
With a market capitalisation of S$1.6bn, the Indonesian palm oil producer is Singapore’s first sizeable new listing on the SGX this year.
Bumitama is one of the youngest plantation companies in Indonesia. It owns 191,948 hectares of land, of which 37.9% is currently uncultivated and available for future planting. The weighted average age of the oil palm trees is about five years and only 28.1% of the planted area has reached the peak production age, thus offering growth potential. Bumitama expressed plans to increase their planted area by approximately 13,000 hectares per year over the next four years. Most of the IPO proceeds will be spent on capital expenditure for expansion and development of uncultivated land bank and plantations.
Last year, Bumitama announced a FY11 revenue of US$320mn and an adjusted net profit of US$67m.
Singapore Market Wrap
IMF places STI back in the zone
The STI was back in good stead, positioned at the 3,000 level again as the IMF raised global economic forecasts which led to a rebound in Asia-Pac indices. The STI gained 0.5% day-on-day (dod) to 3,000.58 yesterday.
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.*
The rise and fall of DBS on Danamon news
Opening on a two-week high of $13.65 on the back Danamon's earnings announcement, DBS' shares were sold down later in the day to eventually close 0.2% in the red and finish as one of the day's index laggards at $13.51.
Danamon is the subject of DBS' takeover interest following the latter's announcement on April 2 of a US$7.2bn stake bid. Danamon had on April 17 said that its first-quarter profit rose 18% to US$98mn on higher demand for credit.
In further news of the deal, Indonesian paper Kontan reported yesterday that the Indonesian regulator will seek an explanation from DBS on why the offer for minority shareholders was made before the Temasek deal closed. Bank Indonesia also said last week it will seek talks on reciprocity with Singapore as a condition for the central bank's approval of DBS's bid. They are requesting for equal treatment for Indonesian
banks to operate in Singapore.
Call DBS MB eCW120702 (P0VW) exercise price $13.90.*
Call DBS MB eCW130102 (O9KW) exercise price $14.00.*
Call DBS MB eCW120803 (P5CW) exercise price $15.00*
Put DBS MB ePW120718 (P2NW) exercise price $12.80.*
Overnight Market Wrap
Intel and IBM Disappoint Investors
US stocks fell, with the S&P 500 index falling 0.4% to 1,385.14. Spanish 10-year bond yield rose to 5.82% as its non-performing loans rose to the highest level since 1994. Gold fell for the 4th day to $1,642.10 per ounce.
Technology heavy weights Intel and IBM fell after posting slower sales growth. Their European businesses took a hit as the economy slowed.
Overnight Markets
| Indices | Last | Change |
|---|---|---|
| STI | 3000.58 |
0.5%  |
| HSI | 20780.73 |
1.1% |
| DJIA | 13032.75 |
-0.6%  |
| S&P 500 | 1385.14 |
-0.4% |
| Nasdaq | 3031.45 |
-0.4% |
Corporate News
Corporate Announcements
Results Announcement
Thu 19 Apr: Keppel Corp 1Q12
Fri 27 Apr: DBS 1Q12
Mon 30 Apr: CapitaLand 1Q12, IndoFood 1Q12
Wed 9 May: UOB 1Q12, SembMarine 1Q12
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), Golden Agri ($0.0184), SGX ($0.04)
Fri 4 May: Wilmar ($0.031), IndoFood Agri ($0.003)
Mon 7 May: UOB ($0.40), CapitaLand ($0.08)
Wed 9 May: DBS ($0.28)
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