MMI Holdings - $1.11 (+0.09)

Shares of MMI Holdings broke out to new high after range-bounded between 0.970 and 1.06 for about 1.5 month. The stock shot up to a high of 1.14 before retreating to close at 1.11 on volume of 20.5 million shares. The fierce buying can be attributed to the expectation that MMI Holdings will post strong first quarter profit for FY07.

This evening after the Singapore stock market closed, MMI Holdings announced a set of record profit for the first quarter, FY07. Net profit was up 53% year-on-year after taking into consideration a one-time gain for first quarter FY06.

Pan Hong Property - $0.400 (+0.05)

Another property stock for punters!

Pan Hong Property Group, a China-based property developer, was listed in the Singapore Stock Exchange on 20 September at an IPO price of $0.350. Since listed, the company shares have never closed above its IPO offer price, though it touched a high of 0.365.

Today, stock of Pan Hong finally made a break through to close at $0.400 on high volume of 11.9 million shares. The resistance at 0.350 has become a strong support for the shares.

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F J Benjamin - $0.565 (+0.02)

The Singapore stock market continues it gravity defying run with the Straits Times Index up 27.03 point on heavy buying on the 3 bank stocks.

Shares of F J Benjamin were up by 3.7% on volume surge. The buying strength was strong. The stock rebounded after finding support at the 61.8% Fibonacci retracement level of 0.525. Volume dried up and accumulation stepped in between 0.525 and 0.540.

Resistance level is at 0.620 whilst support is at 0.525.

By the way, F J Benjamin has declared a dividend of 2.4 Singapore cents. That translates to a decent yield of 4.2%. The Ex-dividend date is 6 November, 2006.

Tags: shares, stocks, singapore stock market, investing, stock-trading

Jadason - 0.0215 (+0.015)

In the Singapore stock market, the Straits Times Index closed up 23.05 points at 2714.66, breaking the 2700 point barrier for the first time! This was helped by the big blue chips in the banking and property sectors.

DBS Group Holdings was up $0.40 at $21.00,
United Overseas Bank up $0.30 at $17.90 and
Oversea-Chinese Banking Corp up $0.10 at $7.05.

Property heavyweights also gained, with City Developments up $0.30 at $11.20,
CapitaLand up $0.10 at 5.35 and Keppel Land up $0.25 at $5.60

Shares of equipment supplier for the printed circuit boards (PCBs) industry, Jadason Enterprise, was up by 7.5% after CIMB-GK Research issued a report, raising its 12-month price target for the stock to $0.345 per share. That implied an upside of 60% from today closing price of 0.215.

The brokerage has raised its earnings estimate for the company by 8-13% for FY07-FY08 to factor in the greater contributions from mass lamination and drilling services.

“We see catalysts from robust quarterly earnings and positive news flow from the PCB industry,” CIMB-GK said. It expects Jadason’s net profit to grow to 24.6 million SGD this year from 11.7 million last year, then to 28.9 million in 2007, and to 29.2 million in 2208. That translates to net profit growth of 110%, 17.5% and 1% for FY2006 – FY2008.

CIMB-GK believes Jadason will stand to benefit as China becomes the fastest growing low-cost manufacturing PCB hub. It expects China to overtake Japan as the world’s largest PCB manufacturing hub in terms of output by 2007.

Technically, the stock is currently in a strong up trend after breaking out from consolidation range. The price is trading above the mulitple moving averages and MACD indicator is showing sign of continuous upward momentum. However, it is likely to face a critical long term resistance price level at 0.225. Immediate support appears to be at 0.195.

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