TODAY'S HEADLINE


SGX, LSE TO OFFER CROSS'TRADING OF BLUE CHIP STOCKS  
Singapore Exchange (SGX) has teamed up with the London Stock Exchange (LSE) to o'er cross'trading of several blue'chip securities listed on their respective markets.
The two bourse operators yesterday signed a memorandum of understanding that allows SGX trading members to trade FTSE100 securities via GlobalQuote Board  '  SGX's quotation board for international securities.
Constituent stocks of the benchmark index include Diageo, Glencore International, Sainsbury, and Vodafone Group. In return, LSE members will be able to trade 36 securities listed in Singapore  ' blue'chip stocks found either on the Straits Times Index or the MSCI Singapore Free ' on LSE's new International Board. These include SingTel, the three local banks, and CapitaLand.
The move would increase the number of hours that an investor can have to trade such stocks, SGX and LSE said. For example, as Singapore is seven hours ahead of London, investors of a Singapore'listed stock can choose to trade that same stock on the LSE until the close of trading in London at 4.30pm.
Magnus Bocker, CEO of SGX, noted that this would raise the overseas pro'le of top Singapore'listed 'rms and o'er access to global capital. Investors can also manage their risks almost round'the'clock. Shares of these companies listed on SGX will be quoted on LSE, and vice versa, which means issuers will not need to go for a separate listing.
The relevant SGX securities are expected to be quoted on LSE's International Board by early next quarter, while the LSE securities should be quoted on SGX's GlobalQuote by the 'rst half of 2013. The two bourses are still working on securing regulatory approvals related to clearing and se''lement

NEWS BUZZ

Keppel O'shore & Marine's Brazilian  
Wins US$200m contract  
Keppel O'shore & Marine Ltd (Keppel O&M), through its subsidiary Keppel FELS Brasil,    has secured a contract worth approximately US$200mil contract from a repeat customer. The contract is for the fabrication and integration of topside modules for the Floating Production Storage and O'oading (FPSO) vessel, Cidade de Manga'ratiba MV24. It will begin work on the vessel in its Rio de Janeiro yard in the 4Q of this year, with its completion expected in the 2Q14.   Keppel FELS Brasil is a wholly'owned subsidiary of Keppel Corporation.

Midas Holdings (S$0.345) 
Wins 139m yuan orders
Midas said its aluminium alloy division, Jilin Midas Aluminium Industries Co, has secured 139.3mil yuan of new orders from Chinese and international customers. Delivery on the contracts is expected to take place from 2012 to 2014, and will positively contribute to results in the respective years.

Poh Tiong Choon (S$0.405) 
Buys remaining PTC stake
Poh Tiong Choon Logistics has acquired the remaining 49% stake in PTC Marine Private comprising 980,000 issued ordinary shares for $163,650. The total consideration was arrived at after taking into account the revalued asset value of PTC Marine.

Source: The Business Times