RIM has likely delayed the launch of its BlackBerry PlayBook tablet due to issues with the battery, says a new report, adding that the device may also have other problems. – Poor battery life is likely the reason that Research In Motion has
delayed the launch of its BlackBerry PlayBook tablet until the second
quarter of 2011, according to a new report from Kaufman Bros. analyst
Shaw Wu.
quot;We hear that the PlayBook needs to improve [its] relatively poor
battery …
Suntec REIT (T82U.SG) down 1.4% at $1.41 after it places 313 million units at $1.37 each to part fund MBFC stake buy; CIMB notes placement price at top end of indicative $1.34-$1.38 range flagged Monday, though below house’s $1.42 assumption, but says limited DPU impact from lower placement price.
THE KING IS DEAD OUT JANUARY 18, 2011
 The Decemberists |
The Decemberists have
partnered with The Impossible Project and photographer Autumn de Wilde to create a deluxe box edition of
The King Is Dead, their forthcoming Capitol Records album which will be released on January 18,
2011. Rough Trade Records will be releasing The King Is Dead in the UK and Europe on January 17. The
preorder of the set has launched today exclusively at Decemberists.com.
Each of the 2,500 limited edition box sets will be unique, with every one containing a one-of-a-kind original
Polaroid photo by de Wilde. The linen-wrapped clamshell box will have a foil-stamped cover, and will also include
the CD, 180-gram white vinyl with an exclusive cover design, the DVD Pendarvia (a 30-minute short film by Aaron
Rose documenting the making of the album), a 72-page hardcover book featuring over 250 photos by de Wilde and
illustrations by Carson Ellis, and a signed Giclee print of an exclusive illustration by Ellis. A sample of the deluxe
box edition can be viewed at Decemberists.com.
The Decemberists
Tour Dates
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The Decemberists News
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The Decemberists
Concert
Reviews
Overall impact of Beijing’s recent measures against food inflation on Singapore-listed China companies ranges from neutral to positive, although prospect of more controls in near term still poses concerns, says DMG.
Stock down 11.4% since 3Q10 results released Nov. 11, showing net profit halved at $187.8 million vs 2Q10’s $396.5 million on lower revenue.
Fraser & Neave (F99.SG) down 2.0% at more than 2-week low of $6.38, may end lower for 5th straight session, despite trading with dividend entitlement, according to Dow Jones.
Stock hasn’t garnered much buying interest since diversified business group reported Friday 22.9% on-year fall in September-quarter earnings to $144.5 million.
Concerns of more tightening measures by China, which F&N counts as one of key property markets, may also be weighing, although reach not as extensive as other developers like CapitaLand (C31.SG), Keppel Land (K17.SG).
“It has no high-end or prime (housing) inventory in China. It has two large residential land parcels and 30–40% has already been sold, which should help cushion them from any fallout,” says analyst at foreign brokerage; adds, China accounts for relatively small 10.5% of F&N’s gross asset value.
Immediate support at 50-day moving average, last at $6.29.
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OCBC downgrades Golden Agri-Resources (E5H.SG) to Hold from Buy, given limited upside, keeps $0.78 fair value, according to Dow Jones.
OCBC says CPO price rally, strong 21% on quarter recovery in CPO output boosted 3Q10 results; also notes company maintains positive CPO outlook, citing growing consumption of edible oils, fats, particularly by bulging middle classes in China, India, Pakistan.
Adds however, “management does not expect any increase in production this year (vs +5% previously), attributing the shortfall to the heavy rainfall over the past few months.”
STI +0.4% at 3,301.29 midday, with immediate resistance at year-to-date high of 3,313. Number of gainers, decliners evenly matched in broad market. Participation low with volume merely 1.04 billion shares worth $1.09 billion.
Ahead of Singapore banks’ 3Q earnings releases, Andrew Chow, research head at UOB KayHian, says people not expecting any major surprises and are resigned to margin compression from low SIBOR, and “hoping that the loan growth won’t slow down too much because of the quiet property market. The fall in property transaction volumes is a little bit worrying, and coupled with the expected compression in NIMs, people generally are not that upbeat.”
Sequentially, numbers show slight recovery from August when passenger load factor was 78.1%, passengers carried fell 6.6%. September overall load factor at 69.9% vs 70.3% year ago, 68.1% in August.
Downside for prices of Singapore REITs limited in near term given investors’ continued demand for higher yields amid current low interest rates, says Morgan Stanley, according to Dow Jones.
Morgan Stanley adds rising asset values, especially for office properties, also supportive, while stronger SGD vs USD will help underpin SGD-denominated assets.
Still, REITs could find it challenging to pursue yield-accretive acquisitions as competition for assets heats up, capital values continue rising. Rolls over target prices to peg at end-2011 valuations.
Singapore shares struggle to gain traction amid lack of cues with corporate news flow thin, widely-tracked Hong Kong, China markets closed, says Dow Jones.
STI +0.4% at 3,110.21 midday after drifting in tight 3,101-3,112 band, suggesting year-to-date high of 3,125 not likely to be tested.
“There’s not much news flow to guide the market, so there’s not a lot of activity going on. The upside should be modest for the rest of today,” says dealer.
Keppel Corp. (BN4.SG) +0.3% at $9.01 in thin trade, hardly swayed by rig builder’s latest US$101 million ($134 million) contracts to refurbish 2 semi-submersible drilling rigs, as market more concerned about company’s ability to replenish fast-depleting orderbook, says Dow jones.
Resistance expected at this week’s $9.24 high, set Monday.
“The rate of order replenishment is critical to secure earnings visibility in FY11,” says CIMB analyst Lim Siew Khee.
Keppel’s offshore & marine orderbook worth $5.0 billion in June vs $5.8 billion in March. Latest contracts awarded by Saipem, Ensco, not expected to boost FY10 earnings.
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GuocoLand Limited (GLL) says wholly-owned subsidiary, GuoSon Investment Company Limited (GICL), together with Guoco Investments (China) (Glnv), a wholly-owned subsidiary of Guoco Group Limited (GGL), has tendered successfully in the proportion of 50:50 for a land parcel known as Plot 9 in Changfeng, Shanghai. GGL is the parent company of GLL.
The aggregate purchase consideration for the site is RMB3.04 billion ($598.9 million or RMB24,812 psm per plot). GICL and Glnv have equally paid for a deposit of RMB382 million ($75.3 million) for the site.
Gold (SMAUc1) was the most popular contract trading a total of 61 lots by 0755 GMT, each of 32 ounces, or 1,952 ounces. The euro-dollar futures (SMEUc1) were second with 23 lots traded, equivalent to a little under 1.1 million euros ($1.89 million) in value.
While valuations of Singapore bank shares undemanding, upside in near term limited as net interest margins expected to remain under pressure, says Deutsche Bank, according to Dow Jones.
Deutsche Bank notes interest rates in Asia generally rising, but Sibor likely to remain low for longer than initially expected as rates in Singapore linked to Fed policy; “while NIMs should stabilise in 2011, the near term is challenging and we think risks are to the downside.”
Singapore Press Holdings (T39.SG) surrenders early gains, flat at $3.95 in light trade vs $3.98 intraday high, still holding near six-week low of $3.91 set last Thursday, which expected to offer support near term, according to Dow Jones.
Stock continues to underperform STI, down 4.4% since beginning August vs benchmark down 2.2% over same period, as SPH widely regarded as close proxy to Singapore economy, which expected to grow at much slower pace in 2H10 vs +17.9% on-year in 1H10.
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Buyer fatigue seems to have surfaced in Singapore bourse as stocks struggling to head higher amid thin volumes, says Dow Jones.
STI +0.4% at 2,968.13 in 2:33 p.m. vs +0.7% at 2,977.16 in morning trade. Any further upside likely minimal, with 2,984 (April 30 high) expected as resistance.
Market breadth still positive but narrower at about 1.5 gainers for every decliner vs 7 for 1 in early trade. Market valuations remain inexpensive, says Deutsche Bank, but bottom-up stock picking will be increasingly significant as Singapore’s economic growth moderates in 2H10.
