In focus are Olam, F&N, SIA

Here are updates on the three firms.

OCBC Investment Research said:

The muted reactions on Wall Street last Friday night are unlikely to provide any positive cues to the local bourse this morning.

As a recap, the STI continued to recover in the last session, closing around 0.8% higher, after surging as much as 1.2% intraday.

And with today’s tone likely to turn a tad more downside biased, we could see the index initiating a technical correction back towards the 3060 resistance-turned-support.

Below that, the next base lies at the 3020 resistance-turned-support. On the upside, 3080 (various peaks) is now the immediate obstacle, with the subsequent hurdle pegged at the 3110 key peak.

IG Markets Singapore meanwhile noted:

In Singapore today, the waters may be a little clearer after the Olam/Carson Block mud-throwing calms down. While Carson Block has raised his profile in this part of the world, Olam may be more sensitive to shareholder gripes. So this corporate story may have a happy ending after all.

The other big corporate story of 2012 – the takeover battle for Fraser & Neave – will start heating up again ahead of the December 11 deadline that Thai tycoon Charoen has extended for F&N to consider his offer.

Sticking with $8.88 a share may make Charoen seem like Scrooge this Christmas and he may need to dig a little deeper into his sack if he wants to be seen as the Santa of Singapore to F&N shareholders.

Also worth noting is that Singapore Airlines has confirmed it is in talks to offload its 49% stake in Virgin Atlantic. The local carrier has been approached by US airline Delta, which may have aspirations to take a controlling stake of Richard Branson's baby.

This approach comes at the right time for Singapore Airlines as it looks to extract itself from the crowded and stagnant European market and concentrate on markets closer to home, in Asia and Australia.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia