• Cityneon Holdings (Initiating coverage) - Marvelous Transformation
• Noble CEO resigns
• Mermaid secures extension to delivery dates for newbuild drilling rigs and subsea vessel under construction
• July US rate hike prospects alive

Stocks to Watch 
Cityneon Holdings (CITN SP) : BUY (Initiating coverage) Last Traded Price: S$0.74; Price Target: S$1.03(39% upside) LING Lee Keng / Singapore Research Team Marvelous Transformation • Creator of innovative and interactive exhibitions, with the acquisition of VHE • Scalable business model with low execution risk • Potential for third IP, and to tap on other Walt Disney characters • Initiate with BUY, TP: S$0.1.03

News  
Noble CEO resigns  
YUSUF Alireza, 45, chief executive officer of Noble Group, has resigned due to family reasons. Noble will also sell US energy marketing firm Noble Americas Energy Solutions to raise cash to strengthen its balance sheet, the company said on Monday morning. Chairman Richard Elman will remain in his current position, while William Randall and Jeff Frase are appointed as co-CEOs.  

Mermaid secures extension to delivery dates for newbuild drilling rigs and subsea vessel under construction  
Mermaid Maritime has secured extension to delivery dates for newbuild drilling rigs and subsea vessel under construction for the (2) performance class tender rigs 'MTR-3' and 'MTR-4' and one (1) DP2 dive support and construction vessel 'Mermaid Ausana' with China Merchants Industry Holdings. Both parties have mutually agreed to postpone the delivery dates for both rigs to 31 December 2016 and for the Vessel to 30 June 2017, from various periods in 2016 earlier.

July US rate hike prospects alive
US stocks rose, led by financials after FED Chair Janet Yellen said it will be "appropriate" to raise interest rates in coming months provided the economy continues to improve. She also emphasized that the Fed will move slowly and carefully. Her comments keep the prospect of a FED rate hike. Consensus expects a July rate hike (60% probability), according to CME FEDWatch.

Source: DBS