Stocks News Singapore: MDR gains on Myanmar deal

mDR

05/06/2013 07:58

Shares in mobile phone distributor MDR Ltd  MDRT.SI  rose as much as 6.3 percent after Nokia  NOK1V.HE  made MDR's business partner Golden Myanmar Sea Company Ltd a distributor of its products in Myanmar. MDR was one of the most actively traded stocks on the Singapore bourse, with 164.5 million shares changing hands, and  rose to an intra-day high of S$0.017, matching a peak in May. MDR Myanmar will provide consultancy and retail franchisee procurement services to Golden Myanmar Sea, which will help MDR make a foray into the emerging telecommunication business in the country which has opened up after decades of isolation.  ID:nSNZ49G8vF  Myanmar is expected to award two mobile licences later this month to open up one of the largest untapped mobile markets. (Reporting by Rujun Shen; Editing by Sunil Nair) ((rujun.shen@thomsonreuters.com; +65-6403-5666; Reuters Messaging: rujun.shen.thomsonreuters.com@reuters.net)) ***************************************************************  11:24 STOCKS NEWS SINGAPORE-Index down; Keppel gains on rig order Singapore shares weakened, while the world's biggest offshore oil rig builder Keppel Corporation Ltd  KPLM.SI  gained on news that it won an $800 million rig order from Azerbaijan. The Straits Times Index  .FTSTI  dropped 0.7 percent to 3,265.44, while the MSCI's broadest index of Asia-Pacific shares outside Japan  .MIAPJ0000PUS  fell 0.7 percent.     Shares of Keppel Corp rose as much as 1 percent to S$10.68, after the company announced that it won a contract from Caspian Drilling Company Ltd, a subsidiary of the State Oil Company of Azerbaijan Republic, to build a semisubmersible drilling rig, worth about $800 million.  ID:nSNZbQpFlx      "This contract will lift Keppel's year-to-date wins to S$2.4 billion, forming 41 percent of our full year assumption of S$6 billion," said DBS Group Research, keeping an unchanged "buy" rating and target price of S$13.00. Other brokerages had a bullish outlook on Keppel Corp. "With Keppel's seven jack-up orders to date, all based on its KFELS B class jackup designs, we believe the outlook for margins in 2014 continues to improve," said Barclays analysts, keeping Keppel as its top pick in the rig-building space.    The oil and gas sector index  0#.FTFSTAS0001  gained 0.4 percent on Wednesday, down 1 percent so far this year, lagging behind the benchmark index's 3 percent rise. 1100 (0300 GMT) (Reporting by Joyce Lim; Editing by Sunil Nair) ((lim.huilian@thomsonreuters.com; +6564035659 Reuters Messaging: lim.huilian.thomsonreuters.com@reuters.net)) Keywords: MARKETS SINGAPORE STOCKSNEWS/