Offshore & Oil Services

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STOCKS NEWS SINGAPORE-Smaller offshore firms attractive
- Maybank Maybank Kim Eng said robust activities in rig-building would filter down the value chain and it is time to start looking at the smaller offshore support services companies, many of which are trading at single-digit price-earnings ratios.

Maybank's top pick is Ezion Holdings Ltd due to the company's expected earnings per share compound annual growth rate of 36 percent over the next three years.

In the offshore construction space, Ezra Holdings Ltd and Swiber Holdings Ltd have accumulated strong order books, Maybank said.

The broker also highlighted module fabricators like Dyna-Mac Holdings Ltd and Technics Oil and Gas Ltd , as well as offshore support vessel builders and charterers who may be potential beneficiaries.

MARKETS News - F&N, SGX, OCBC

GLOBAL MARKETS-Asian shares, euro fall, investors brace for ECB, US payrolls data
SE ASIA STOCKS-Flat to weaker; Vietnam bucks trend
STOCKS TO WATCH -- FRASER AND NEAVE LTD , ASIA PACIFIC BREWERIES - Singapore drinks and property conglomerate Fraser and Neave said on Wednesday it will release a circular to shareholders on Thursday laying out details on the proposed sale of its stake in Asia Pacific Breweries to Heineken, as well as its capital reduction plan. It will also set the date for a shareholder meeting.
SINGAPORE EXCHANGE LTD - Singapore Exchange said securities turnover fell 29 percent to S$29.4 billion ($23.6 billion) from a year earlier, but was up 11 percent from a month earlier. Daily average value was down 29 percent year-on-year at S$1.4 billion, but 16 percent higher month-on-month.
OVERSEA-CHINESE BANKING CORP - Singapore's OCBC said on Wednesday it had priced $1 billion of fixed rate subordinated notes. The notes are priced at 99.905 percent and will bear a coupon of 3.15 percent per annum from the issue date to March 2018.
(Source: Reuters via UOB Kayhian News Portal)