Attention returns to the fiscal cliff as the previous US data heavy week passes. This, in addition to Singapore's low-growth high-inflation economic environment, an above fair stock market valuation and the year-end lull could check STI's 117pt rally in the past 2 weeks. Expect a pullback off 3122 to 3050 over the next 2 weeks. Overtime, we see a gradual rising trend to 3200 by end CY1Q13.

DBSV Research thinks that Retail Reits are still a safe house. Asset enhancement initiative (AEI) is expected to take centrestage in driving earnings growth amidst slowing retail sales growth in 2013. Suburban retail continues to attract good interests despite incoming supply. Extra earnings kicker could come from acquisitions, particularly from sponsors' pipeline. Mapletree Commercial Trust (TP: S$1.35) is our top pick given its superior earnings profile while Starhill Global REIT (TP: S$0.84) offers an attractive yield of 6%, higher than peers.

Institutional funds and high net worth investors has acquired a 10.3% stake in China Minzhongthrough a vendor shares placement from Olympus Capital Holdings Asia ' a private equity fund, at a placement price of S$0.80 per share.

FDS Networks is buying Delta Advanced Materials for $165m as part of a reverse takeover move and an attempt to get itself off the Singapore Exchange's watch list. New businesses with creditable track record will then be injected into the company. The $165m price tag takes into account the profitability and prospects of Delta Advanced Materials and its subsidiaries, particularly its unaudited profit after tax of about RMB96.8m for FY Sep 2012. FDS Networks will consolidate every 25 of its shares into one share. The vendors of Delta Advanced Materials and its noteholders will be issued 300m new consolidated shares in FDS Networks at an issue price of S$0.55 each.

Wee Hur has been awarded a $150m building construction contract for the Parc Centros condominium in Punggol. The latest deal brings the group's order book to about $540m, with a steady stream of activities through to FY2015.

Moya Asia is proposing to undertake a renounceable non-underwritten rights issue of up to 262.3m Rights Shares, at an issue price of S$0.04 for each Rights Share, on the basis of two (2) Rights Shares for every five (5) existing Shares held. The Issue Price represents a discount of approximately 16.7% to the last closing price. The bulk of the maximum net proceeds of about S$10.4m will be used to fund the capital expenditure requirements relating to its current projects in Indonesia which involve designing, building, upgrading and operating of bulk water supply and water supply concessions.

Resorts World Sentosa (RWS) recently saw its third-quarter gaming revenue fall 20% amid an uncertain economic outlook and tighter restrictions on local gamblers. The group is positioning itself as" not just a gaming resort" but a complete family destination. In terms of expansion plans, the group could expand to Japan as it expected the country to pass its gaming law in the next 12 to 18 months.

Source: DBSV