Daily Review, 07 August 2012 Page 1 of 4
SGX-ST Member, SGX-DT (CNCM)
Daily Review
07 August 2012
LIM & TAN SECURITIES PTE LTD
20 CECIL STREET
#09-00 EQUITY PLAZA
SINGAPORE 049705
TEL: 65330595 FAX: 65332368
www.limtan.com.sg
RCB Reg No. 197301030W
SUMMARY
1. KEPPEL CORP ($11.37, up 10) has firmed up
contracts with Sete Brasil for the design and
construction of 5 semisubmersible drilling rigs
for US$4.1 bln, bringing to 6 DSS 38E semis it is
building for the Brazilian company. Petrobras is
one of the shareholders of Sete. The contracts, first
announced in April as a Letter of Intent, only had a
mild impact of Keppel’s share price then, rising from
$11.24 to $11.67. We maintain BUY.
2. CAPITALAND ($3.13, up 1): Group CEO Liew Mun
Leong sold 1 mln shares at $3.08, reducing holding to
2,554,563 shares. Mr Liew, who will be stepping down
as CEO next year, had received 219,648 shares under
a group scheme in March this year, and exercised
493,600 options in Apr ’10 at $3.26 a share. He last
sold 1.6 mln shares in May ’08 at $6.92 a share average.
We are downgrading C-Land to Take Profit as it is
expected to encounter technical resistance at the
$3.10-3.20 level.