CapitaMall Trusthas placed out 125m new units or 3.8% of the total number of units to raise c.S$250m. The issue price of S$2.00 represents a 4.8% discount to last closing price. We believe that the fund raised will provide CMT with greater financial capacity to carry out progressive completion of its asset enhancement works (AEIs) at various malls. Impact on target price and DPU is minimal as the placement size is small. Taking into account the enlarged unit base post placement, our target price will be reduced by c.4.0% to S$2.02 from S$2.10, while FY13/14 DPU will see a marginal impact of c.1.0%.

Keppel FELS has been selected by Ukraine's National Joint- Stock Company, Naftogaz, as the winner of a tender to construct two semisubmersible drilling rigs and will be entering into further contract negotiations with Naftogaz. Key terms of the contract (including price and delivery schedule) will be made when the contract is signed.

Olam said that it has initiated legal action against both Muddy Waters and its founder, Carson Block, for the comments made at the Sohn London Investment Conference on Monday. Muddy Waters published a stinging response to Olam's Tuesday rebuttal of its criticisms of the company and predicted the collapse of the Singapore firm. Olam investor relations general manager said that it had filed a claim against both parties for "slander, libel and/or malicious falsehood".

Sound Global has repurchased an aggregate principal amount of RMB15m Convertible Bonds due 2015 by way of an over-the-counter purchase. Following the repurchase, the aggregate principal amount of Convertible Bonds remaining outstanding would be RMB607m.

Amara Holdings is jumping on the executive condominium (EC) bandwagon. It will develop its first public housing EC project at a Tampines site with Singxpress Land and Kay Lim Holdings. Market observers expect that pricing for CityLife@Tampines to be comparable to other nearby EC projects such as The Tampines Trilliant, which is selling for about $780 psf to $850 psf for three-bedroom units.

The Housing & Development Board (HDB) has launched 6,463 new built-to-order (BTO) flats, bringing the total number of BTO units offered this year to 27,084, the largest BTO supply ever launched in a year. Together with the 7,153 balance flats offered earlier, HDB has launched a total of 34,237 new flats in 2012. HDB said it is planning for at least 20,000 BTO flats in 2013.

US stocks edged up slightly, despite the inability of European finance ministers to finalize the details of a debt-reduction package for Greece. Trading volume was light ahead of the Thanksgiving holiday on Thursday and a short trading day Friday.

Source: DBSV