Yet another name that has stood out for its performance and surge in turnover amid this thinly traded sideways market is, IHH Healthcare Bhd.

Macquarie’s IHH Healthcare warrants

The health-care provider said on Tuesday evening that its 2Q net income surged to 403.5 million ringgit (US$129 million), from 76.7 million ringgit the same period last year. Boosted by inaugural contributions from Acibadem Saglik Hizmetleri & Ticaret AS, Turkey’s largest
hospital group, in which IHH bought a 60% stake in January, 2Q revenue tripled. Its recent IPO in both Singapore and Malaysia has also lent strength to the company’s balance sheet.

In Singapore, IHH made its biggest advance since July 26 after climbing 2.8% to $1.275. The stock is now up 14.6% from its IPO price of $1.113 on July 24. Over the same period, the STI registered an increase of 1.4%.

In Malaysia, IHH also surpassed the +0.8% performance of the Kuala Lumpur Composite Index for the same period with its 13% gain since July 24.

Investors who are keen to take a short-term bullish view on IHH may wish to consider doing so via Macquarie’s IHH warrants. These call warrants cost only a fraction of IHH’s share price but will make greater percentage moves compared to the mother share as a result of the gearing effect:

Macquarie’s IHH Healthcare warrants

Singapore Market Wrap

Quiet day while awaiting speech at Jackson Hole

Yesterday, the STI barely moved, closing at 3041.57, gaining a mere 0.1% dod. Most investors were staying out of the markets while waiting for the Chairman Ben Bernanke's speech, due on Friday. His annual speech at Jackson Hole may shed some indication of possible monetary stimulus.

Meanwhile, trading volume in the STI remained thin, with volume slipping below the 15-day moving average. The oil and gas industry was the sector leader, increasing by 0.6% as a group, while the industrials were laggards, falling 0.7%.

The HSI hardly budged and closed at 19788.51, down 0.1% dod.

STI 3100MBeCW121031 (Q1AW) exercise level 3,100.*
STI 2950MBePW121031 (Q0ZW) exercise level 2,950.*

HSI19800MBeCW120927 (Q1DW) exercise level 19,800.*
HSI20400MBePW120927 (Q1SW) exercise level 20,400.*

Sembcorp Marine wins contract worth US$674mil
Before the STI started its trading session yesterday, Sembcorp Marine announced that their subsidiary Jurong do Brasil Prestacao de Services Ltda (JDB) has secured a contract worth US$674mil from Tupi B.V., a consortium owned by majority shareholder Petrobras Netherlands B.V.

The contract is for the construction of a total of 8 modules and module integration works for 2 Floating Production Storage and Offloading vessels (FPSO). Mr Martin Cheah, President of JDB said that "we are pleased to be awarded this contract" and that "Jurong is proud to be recognised by Petrobras as their key partner" and to be awarded the contract even though the company's shipyard "is still in its early phase of construction".

Sembcorp Marine closed at $5.02, up 0.4% dod.

Call warrant SembMar MBeCW121203 (Q0OW) exercise price $5.00.*
Call warrant SembMar MBeCW130104 (Q4NW) exercise price $5.50.*
Put warrant SembMar MBePW130103 (Q4GW) exercise price $4.70.*
Long dated call warrant SembMar MBeCW130603 (M8NW) exercise price $5.59.*

SGX deepens ties with China
Recently, SGX entered into a Listing Memorandum of Understanding (MOU) with the Shandong Finance Office. Under the MOU, SGX and the Shandong Finance office will cooperate to develop communication channels and foster continued ties in areas including information exchange and the listing of more Shandong companies on the SGX.

Vice Director of Shandong Finance Office, Mr Sun Xianqing said that "this MOU will assist more suitable companies from Shandong to tap the capital market in Singapore" while Mr Lawrence Wong, Head of Listings at SGX said that he is looking forward to "help more Shandong companies understand Singapore's market environment and offering so as to enable them to tap the Singapore capital market".

SGX closed at $7.08, up 0.7% dod.

Call warrant SGX MB eCW121204 (Q0PW) exercise price $6.50.*
Call warrant SGX MB eCW121203 (Q0LW) exercise price $7.50.*
Put warrant SGX MB ePW121204 (Q4TW) exercise price $ 6.60.*

Overnight Market Wrap

GDP figures fail to draw investors into the markets

Last night, the S&P closed at 1410.49, increasing 0.1% dod. US released GDP figures which increased by 1.7% quarter on quarter, meeting the Bloomberg survey's expectations. Despite the release of GDP, trading was light as investors eagerly await Bernanke's speech at Jackson Hole.

The Fed said in its Beige Book survey that the "economy continued to expand gradually in July and early August as improvement in housing and retail sales helped outweigh weakness in manufacturing".

On other news, oil fell as Gulf coast refineries and platforms seemed to escape unscathed from Hurricane Isaac.

Overnight Markets

Indices	Last	Change
STI	3041.57	0.1%
HSI	19788.50	-0.1%
DJIA	13107.50	0.0%
S&P 500	1410.49	0.1%
Nasdaq	3081.19	0.1%
China A50	7039.51	-1.0%

Corporate News

Corporate Announcements

Keppel sells S$300mn 4% callable notes due 2042

Ex-dividend dates:
Wed 26 Sep: SGX ($0.15)
Tue 6 Nov: Olam ($0.05)