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STI 3,000 boosted by pivot investors mkt players
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WanSiTong
Supreme |
14-Feb-2015 09:07
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US: S& P 500 closes at new record high Dow above 18,000
14 Feb 7:34 AM
[NEW YORK] The S& P 500 on Friday closed at a fresh record high, while the Dow ended above 18,000 for the first time in 2015 following good economic data out of Germany. The broad-based S& P 500 gained 8.51 points (0.41 per cent) at 2,096.99, almost 6.5 points above the prior record set December 29. The Dow Jones Industrial Average rose 46.97 (0.26 per cent) to 18,019.35, while the Nasdaq Composite Index advanced 36.22 (0.75 per cent) to 4,893.84. In the period from October to December, gross domestic product in Germany expanded by a better-than-expected 0.7 per cent, bringing full-year growth to 1.6 percent, the German federal statistics office said. The strong data helped push the German DAX above 11,000 intraday, with the index finishing up 0.40 per cent at 10,963.40 points. Other European equity markets also rose as Greece appeared closer to a possible overhaul of its multi-billion euro international bailout. Investors were also heartened by another rise in oil prices, with the benchmark European contract for crude finishing above US$60 a barrel in London. Jack Ablin, chief investment officer at BMO Private Bank, said investor sentiment is improving. " While investors recognize the market may be expensive, I don' t think too many people are calling for the next crisis around the corner," he said. Oil-linked stocks rode the rise in commodity prices. Dow member Chevron gained 1.7 per cent and oil-services giant Halliburton put on 3.3 per cent. Dow member American Express tumbled 3.0 per cent, falling for a second day after the termination of a charge-card venture with Costco Wholesale. RBC Capital Markets said the outcome marked the loss of a " crown jewel" and predicted AmEx could have trouble replacing the lost business. Costco fell 0.5 per cent. ConAgra Foods shed 4.4 per cent as the food manufacturer slashed its profit forecast, citing a number of factors, including the higher dollar and a longshoreman dispute on the US West Coast that has depressed exports. Separately, ConAgra named Sean Connolly as chief executive. Connolly led Hillshire Brands before it was acquired by Tyson Foods in 2014. King Digital Entertainment surged 13.3 percent after announcing a special dividend of 94 US cents per share as it reported continued user growth spurred by its latest launch of the Candy Crush franchise and other games. Bond prices fell. The yield on the 10-year US Treasury rose to 2.04 per cent from 1.98 per cent Thursday, while the 30-year advanced to 2.65 per cent from 2.57 per cent. Bond prices and yields move inversely. |
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WanSiTong
Supreme |
13-Feb-2015 18:03
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Singapore shares up on gains in Asia earnings keep investors occupied February 13, 2015 : 5:45 PM SINGAPORE (Feb 13): Singapore shares tracked gains in most Asian markets, although investors tempered expectations as they digested a slew of local corporate earnings. Gainers outnumbered decliners 242 to 183. About 1.03 billion shares worth $1.21 billion changed hands, almost similar to the 1.03 billion shares worth $1.27 billion shares on Thursday. The Straits Times Index edged up 0.2% to 3,426.22. Key gainers among blue chips were Noble Group which rose 5.7% to $1.205, Hutchison Port Holdings Trust which climbed 4.5% to 70 US cents, and Wilmar International , which put on 2.5% to $3.30. UOB rose 0.7% to $23.57, bucking declines by DBS, which fell 0.4% to $19.28, and OCBC which gave up 1.3% to $10.39. UOB, the last bank to report 4Q2014 results, said today earnings for the December-quarter rose 1.7% y-o-y to $786 million. " There were no rude surprises in asset quality, with the non-performing ratio remaining stable at 1.2% in 4Q," said CIMB " The bank also quantified its total exposure to oil and gas and commodities at less than 10% of (its) loan book, which is lower than DBS and OCBC." Among small caps, Amtek Engineering rose 5.6% to 66 cents as investors cheered the precision engineering firm' s December-quarter results, which got a huge boost from Interplex, a US company it acquired last year. Amtek' s earnings rose 74% y-o-y to US$11.2 million as revenue jumped 60% to US$263 million. |
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WanSiTong
Supreme |
13-Feb-2015 13:37
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Singapore stocks advance but gains modest February 13, 2015 : 12:46 PM SINGAPORE (Feb 13): Singapore shares were generally higher, mirroring an uptick in most Asian markets, although investors tempered expectations as they digested a slew of local corporate earnings.
At 12:26pm (0426 GMT), the Straits Times Index was 0.2% higher at 3,424.72. Among small caps, Amtek Engineering rose 4.8% to 65.5 cents as investors cheered the precision engineering firm' s December-quarter results, which got a huge boost from Interplex, a US company it acquired last year. Earnings for the three months to Dec 31 rose 74% y-o-y to US$11.2 million as revenue jumped 60% to US$263 million. Biosensors International Group declined 2.2% to 68 cents after the heart-stent maker said its December-quarter earnings fell to US$7.4 million from US$11.1 million a year earlier as lower revenue offset a reduction in operating expenses. " Considering that the group is still in the early growth stages.......we would wait to see if the cost reduction initiatives taken are sustainable," said OCBC Investment Research. Among blue chips, Singtel rose 0.7% to $4.21, extending gains made yesterday, when the telco reported an improvement in December-quarter results. " Singtel continues to offer an attractive combination of growth and yield, with Optus' turnaround increasing visibility on medium-term growth," said Morgan Stanley. UOB rose 0.6% to $23.55 after it reported 4Q2014 results this morning that beat analyst expectations. |
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WanSiTong
Supreme |
13-Feb-2015 08:21
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Singapore market seen getting off to a slow start February 13, 2015 : 8:12 AM SINGAPORE (Feb 13): Singapore shares may get off to a slow start as investors digest a slew of local corporate earnings from blue chips and lower liners.
Events in Europe, where Greece and its creditors are still trying to reach an agreement on the country' s bailout, are also likely to temper investor expectations. On Wall Street, the Dow Jones Industrial Average rose 0.6% to 17,972.38, the S& P 500 gained 1% to 2,088.48 and the Nasdaq Composite climbed 1.2% to 4,857.61. In Singapore, the Straits Times Index fell 0.7% to 3,419.17. COMPANIES IN THE NEWS: United Overseas Bank' s 4Q2014 earnings inched up 1.7% to $786 million from $773 million a year earlier. UOB shares fell 0.5% to $23.40 yesterday. Olam International' s earnings for the three months to Dec 31 fell 12% y-o-y to $118.7 million, hurt by sharp currency devaluations across its major markets. Olam shares ended flat at $2.03 yesterday. Global Logistic Properties has secured a five-year JPY20 billion (US$166 million) unsecured loan as a hedge to reduce its long-term currency exposure in Japan. GLP shares fell 0.8% to $2.56 yesterday. Singapore Airlines will reduce fuel surcharges from Feb 26. SIA shares fell 1.4% to $12.03 yesterday. Wilmar International' s 4Q2014 earnings rose 8.7% y-o-y to $401 million. Wilmar shares fell 0.9% to $3.22 yesterday. Sembcorp Marine' s 4Q2014 earnings fell 4.6% y-o-y to $174 million. SembMarine shares fell 1% to $2.99 yesterday. Fraser and Neaves December-quarter earnings came in at $35.7 million, little changed from the $36 million a year earlier. Fraser and Neave shares ended flat at $2.92 yesterday. Frasers Centrepoint has reported earnings of $186.9 million for the quarter ended Dec 31. That compares with $120.8 million for the same period a year earlier. Frasers Centrepoint shares closed flat at $1.69 yesterday. Perennial Real Estate Holdings, formed last October through a reverse takeover of St James Holdings, reported earnings of $21 million for the six months to Dec 31. That compares with a net loss of $2.1 million for the same period a year earlier. Perennial shares rose 0.5% to $1.045 yesterday. Biosensors International Group' s December-quarter earnings fell to US$7.4 million from US$11.1 million a year earlier. Biosensors shares rose 3.7% to 69.5 cents yesterday. Boustead Singapore' s December-quarter earnings fell 36% y-o-y to $11.8 million. Boustead shares rose 0.6% to $1.81 yesterday. Hi-P International reported 4Q2014 earnings of $15 million, compared with a net loss of $14.5 million a year earlier. Hi-P shares rose 0.7% to 67.5 cents yesterday. Courts Asia' s earnings for the three months to Dec 31 fell 36% y-o-y to $4 million. Courts Asia shares fell 2.2% to 44 cents. China Aviation Oil' s 4Q2014 earnings fell 67% y-o-y to US$4.4 million. China Aviation shares fell 2.1% to 70.5 cents yesterday. Raffles Education Corp' s earnings for the six months to Dec 31 more than doubled to $25.4 million from $8.8 million a year earlier. Raffles Education shares fell 1.6% to 31.5 cents yesterday. Resources Prima Group incurred a net loss of US$63.7 million in the quarter ended Dec 31. It had a US$5 million loss in the same period a year earlier. Resources Prima shares ended flat at 11 cents yesterday. Gaylin Holdings' earnings for the December-quarter fell to $910,000 from $2.5 million a year earlier. Gaylin shares were not traded yesterday. They last closed at 55 cents. ASL Marine' s December-quarter earnings fell 79% y-o-y to $1.5 million. ASL Marine shares rose 3.5% to 44 cents yesterday. Logistics Holdings' earnings for the six months to Dec 31 came in at $684,000, down from $2.6 million a year earlier. Logistics Holdings shares rose 6.7% to 32 cents yesterday. Informatics Education reported a net loss of $1.8 million for the three months to Dec 31. It had a loss of $439,000 a year earlier. Informatics shares ended flat at five cents yesterday. Oxley Holdings' December-quarter earnings fell 12% y-o-y to $22.4 million. Oxley shares fell 1% to 51 cents yesterday. ISOTeam said earnings for the six months to Dec 31 doubled to $4.1 million from $2.1 million a year earlier. ISOTeam shares fell 0.9% to 58 cents yesterday. Lum Chang Holdings' December-quarter earnings more than doubled to $7.2 million from $3.1 million a year earlier. Lum Chang shares fell 1.4% to 35 cents yesterday. Civmec' s December-quarter earnings rose 18.5% y-o-y to $7.4 million. Civmec shares fell 0.7% to 66.5 cents yesterday. Tiong Woon Corp' s December-quarter earnings fell 57% y-o-y to $3.8 million. Tiong Woon shares ended flat at 23 cents yesterday. Yamada Green Resources' earnings for the December quarter fell 51.5% y-o-y to RM22.1 million. Yamada shares ended flat at 15 cents yesterday. Amtek Engineering' s December-quarter earnings rose 74% y-o-y to $11.2 million. Amtek shares fell 0.8% to 62.5 cents yesterday. Starburst Holdings has secured a contract worth $7.1 million to maintain security and detention facilities in Southeast Asia. It also reported 2014 earnings of $13.1 million, up 51%. Starburst shares rose 2.7% to 56.5 cents yesterday. PEC' s earnings for the three months to Dec 31 came in at $1.9 million, up from $1.7 million a year earlier. PEC shares rose 3.4% to 45.5 cents yesterday. |
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WanSiTong
Supreme |
13-Feb-2015 07:13
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Dow +0.62% 17,972.38 / +110.24 Nasdaq +1.18% 4,857.61 / +56.43 S& P +0.96% 2,088.48 / +19.95 US: Stocks rise on Ukraine deal, Cisco earnings 13 Feb 6:58 AM [NEW YORK] US stocks posted solid gains on Thursday, rallying on news of a ceasefire in Ukraine as strong earnings from Cisco lifted the technology sector. The Dow Jones Industrial Average advanced 110.24 points (0.62 per cent) to 17,972.38. The broad-based S& P 500 jumped 19.95 (0.96 per cent) to 2,088.48, while the tech-rich Nasdaq Composite Index surged 56.43 (1.18 per cent) to 4,857.61. The US gains followed a strong day for European equities after the announcement of a peace roadmap between Kiev and pro-Russian rebels. Still Ukrainian President Petro Poroshenko and others cautioned that implementing the agreement would not be easy. Dow component Cisco jumped 9.4 per cent after reporting that second-quarter earnings surged 68 per cent to US$2.24 billion. Other tech names to rise included Apple (+1.2 per cent) and Google (+1.3 per cent). The gains came despite data showing US retail sales fell 0.8 per cent in January and that unemployment claims rose last week above the 300,000 line. Large banks advanced, with Dow component JPMorgan Chase rising 2.1 percent and Citigroup tacking on 2.4 per cent. Oil giant ExxonMobil rose 2.0 per cent and oil-services titan Schlumberger advanced 1.5 per cent as crude prices rose. Online travel company Expedia jumped 14.5 per cent on news it will buy rival Orbitz Worldwide for about US$1.6 billion in a move that further consolidates the sector. Orbitz bolted 21.8 per cent higher. TripAdvisor, another online travel site, jumped 22.5 per cent after reporting an 80 per cent rise in fourth-quarter net income to US$36 million. Priceline, another online travel site, gained 3.0 per cent. Dow component American Express sank 6.4 per cent on news its venture to provide exclusive credit cards at Costco Wholesale stores would end in March 2016. American Express sought to extend the venture, but said it was " unable to reach terms that would have made economic sense for our Company and shareholders." Costco rose 0.2 per cent. Electric-car maker Tesla Motors fell 4.6 per cent as it reported a fourth-quarter loss of US$107.6 million, compared with a loss of US$16.3 million a year ago. The results were dragged down by delays in auto deliveries. Cybersecurity firm FireEye jumped 11.0 per cent as it projected 2015 sales of US$600-$625 million, compared with US$425.7 million in 2014. Bond prices were mixed. The yield on the 10-year US Treasury fell to 1.99 per cent from 2.00 per cent Wednesday, while the 30-year held steady at 2.57 per cent. Bond prices and yields move inversely. |
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WanSiTong
Supreme |
12-Feb-2015 19:16
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Greek standoff saps investor appetite STI down 0.7% February 12, 2015 : 5:43 PM SINGAPORE (Feb 12): Singapore shares fell amid growing uncertainty over events in Europe, where Greece and its eurozone creditors were nowhere near a compromise on how the country will proceed with its bailout programme under an anti-austerity government. " We do acknowledge that the path to resolution and dissolution remains worryingly the same," said Rabobank. " We remain of the view that, for political reasons, a compromise can only be achieved at the eleventh hour." The Straits Times Index fell 0.7% to 3,419.17. Decliners outnumbered gainers 301 to 152, with about 1.03 billion shares worth $1.27 billion changing hands, compared with 1.09 billion shares worth $974.2 million on Wednesday. ComfortDelGro Corp led declines by blue chips, falling 5.1% to $2.98, after the public transport operator reported 2014 results that largely met market expectations. The stock has risen as much as 25% so far this year. Hutchison Port Holdings Trust declined 2.9% to 67 US cents as the stock traded ex-dividend. It will pay 22.3 Hong Kong cents a unit on March 27. Singtel rose 1% to $4.18 after the telco said its December-quarter earnings increased 11% y-o-y to $970 million, driven mainly by higher contributions from associates. Among lower liners, Nam Cheong fell 3% to 32.5 cents after the company said its 4Q2014 earnings tumbled 42% y-o-y to RM41 million ($15.5 million) on a fair-value loss on derivatives and lower shipbuilding margins. China Fishery Group retreated 3.8% to 17.9 cents, extending its 28.5% loss in the previous session, on concerns over dilution stemming from a proposed rights issue announced yesterday. Following the sharp pullback, the stock is now only slightly above the price of 17.3 cents set for the rights shares. Rowsley rose 3.1% to 20 cents on strong volume. The company, backed by Singapore billionaire Peter Lim, has teamed up with a developer in Vietnam to build and manage a US$550-million ($748-million) mixed development in Yangon, Myanmar, marking its first property deal outside Malaysia. |
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WanSiTong
Supreme |
12-Feb-2015 13:56
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Singapore shares down as Greek standoff weighs February 12, 2015 : 12:50 PM SINGAPORE (Feb 12): Appetite for stocks in Singapore remained subdued amid growing uncertainty over events in Europe, where Greece and its eurozone creditors were nowhere near a compromise on how the country will proceed with its bailout programme under an anti-austerity government.
At 12:41pm (0441 GMT), the Straits Times Index was 0.8% lower at 3,416.35. In the broader market, decliners outnumbered gainers by about two to one. ComfortDelGro Corp led declines among blue chips, down 5.4% at $2.97, on profit-taking after the public transport operator reported 2014 results that largely met market expectations. " We are wary of chasing the stock," Credit Suisse analysts Sanjay Mookim and Tan Shew Heng wrote in a report today, noting that it now trades at 21 times projected 2016 consensus earnings. Among lower liners, China Fishery Group fell 3.2% to 18 cents, extending its 28.5% decline in the previous session, on concerns over dilution stemming from the company' s massive rights issue announced yesterday. The stock is now barely above the price of 17.3 cents set for the rights shares. Nam Cheong fell 3% to 32.5 cents after the company said its 4Q2014 earnings tumbled 42% y-o-y to RM41 million ($15.5 million) on a fair-value loss on derivatives and lower shipbuilding margins. |
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WanSiTong
Supreme |
12-Feb-2015 08:13
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Straits Times Index may get boost from Singtel February 12, 2015 : 8:07 AM SINGAPORE (Feb 12): A mostly flat session on Wall Street overnight may spell a slow start for Singapore shares, although the Straits Times Index may still head higher on the back of Singtel' s earnings improvement in the December quarter.
The Dow Jones Industrial Average ended little changed at 17,862.14, the S& P 500 was flat at 2,068.53 while the Nasdaq Composite rose 0.3% to 4,801.18. In Singapore, the STI rose 0.3% to 3,444.57 yesterday. COMPANIES IN THE NEWS: Singtel' s December-quarter earnings rose 11% y-o-y to $970 million. Singtel shares rose 0.5% to $4.14 yesterday. Sembcorp Industries will pay about $227 million for a 60% stake in Green Infra, a company in India that generates wind and solar energy. Sembcorp shares ended flat at $4.25 yesterday. Swiber Holdings has secured a contract worth US$310 million ($422 million) from a national oil company in Saudi Arabia. Swiber shares fell 2.1% to 18.3 cents yesterday. International Finance Corp is investing in China Everbright Water to back the water-treatment company&rsquo s expansion and help reduce pollution. China Everbright Water will issue about 120 million new ordinary shares to IFC and Dalvey Asset Holding, a subsidiary of RRJ Capital&rsquo s Master Fund II, through a private placement. China Everbright Water shares fell 2% to $1.005 yesterday. ComfortDelGro Corp ' s 2014 earnings rose 7.7% to $283.5 million. ComfortDelGro shares climbed 1.6% to $3.14 yesterday. Lippo Malls Indonesia Retail (LMIR) Trust' s 4Q2014 distribution per unit came in at 0.71 cents, up from 0.56 cents a year earlier. LMIR shares ended flat at 35.5 cents yesterday. Fortune REIT will sell the commercial podium of its 696-unit Hong Kong residential development Nob Hill for HK$648 million ($113.7 million). Fortune REIT fell 1% to HK$8.50 yesterday. Accordia Golf Trust, which listed in August last year, said its distribution per unit for the five months to Dec 31 came in at 3.91 cents, lower than the 4.32 cents forecast in its IPO prospectus. Accordia shares ended flat at 77 cents yesterday. IPS Securex' s earnings for the six months ended Dec 31 came in at $910,528, up from $235,939 a year earlier. IPS Securex shares fell 4% to 48.5 cents yesterday. Sim Lian Group ' s earnings for the December quarter fell 61% y-o-y to $25.5 million. Sim Lian shares fell 0.6% to 87 cents yesterday. |
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WanSiTong
Supreme |
12-Feb-2015 07:16
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&bull Dow -0.04% 17,862.14 / -6.62 &bull Nasdaq +0.28% 4,801.18 / +13.53 &bull S& P -0.00% 2,068.53 / -0.06 US: Stocks flat as market eyes Greece talks 12 Feb 7:03 AM [NEW YORK] Wall Street stocks finished little changed on Wednesday as investors eyed ongoing talks on Greece' s demands to renegotiate its international bailout as the risk of a debt default looms. The Dow Jones Industrial Average dipped 6.62 points (0.04 per cent) to 17,862.14. The broad-based S& P 500 was essentially flat, slipping a scant 0.06 to 2,068.53, while the tech-rich Nasdaq Composite Index added 13.54 (0.28 per cent) at 4,801.18. Eurozone finance ministers heading into an emergency meeting in Brussels said they were ready to listen to Greece' s plans for debt relief, but insisted that it must complete austerity reforms. Investors were hesitant to make big bets with the Greece talks ongoing. " It' s just a back-and-forth day without a lot going on, because everybody is waiting to see what happens on Greece," said Brent Schutte, market strategist at BMO Global Asset Management. Beverage and snacks giant PepsiCo advanced 2.5 per cent after reporting fourth-quarter earnings of US$1.12 per share, four cents ahead of analyst expectations. The company also announced a new share repurchase programme of up to US$12 billion to start in July. One day after becoming the first company worth over US$700 billion, Apple rose another 2.3 per cent as activist shareholder Carl Icahn revived his call for the company to buy back more stock. Food company Mondelez International gained 2.6 per cent as 2014 profit climbed 8.9 per cent to US$3 billion thanks in part to cost-cutting initiatives. The company warned the strong dollar will drag on results in 2015. Furniture and housewares chain Pier 1 Imports slumped 24.3 per cent after it disclosed that holiday shopping results were " well below" expectations. It also announced that chief financial officer Charles Turner was retiring and would be replaced by Laura Coffey, a 17-year veteran of the company. Bond prices were mixed. The yield on the 10-year US Treasury rose to 2.00 per cent from 1.99 per cent Tuesday, while the 30-year fell to 2.57 per cent from 2.58 per cent. Bond prices and yields move inversely. |
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WanSiTong
Supreme |
11-Feb-2015 18:40
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Singapore shares mostly lower in quiet trading February 11, 2015 : 6:02 PM SINGAPORE (Feb 11): In yet another moribund session, the Straits Times Index eked out a small gain while small caps ended mostly lower.
The STI rose 0.3% to 3,444.57. Only 1.09 billion shares worth $974.2 million changed hands, compared with 973.6 million shares worth $1.12 billion on Tuesday. Decliners outnumbered gainers 247 to 184. Notable gainers among blue chips were Global Logistic Properties , which rose 3.2% to $2.58, and ComfortDelGro Corp which climbed 1.6% to $3.14. ComfortDelGro gained as much as 5.5% in intraday trading after its bus unit SBS Transit said on Tuesday its 2014 earnings rose 27.8% to $14.3 million. ComfortDelGro reported after trading hours today that its 2014 earnings increased 7.7% to $283.5 million. OCBC ended flat at $10.60 after the bank said 4Q2014 earnings fell 6% q-o-q to $791 million on higher provisions for bad loans and lower trading income. OCBC' s net interest margin for the quarter inched up to 1.67% from 1.64% a year earlier but was a touch lower than the 1.68% in 3Q2014. " Net interest margin disappointed but asset quality (was) strong," said Maybank Kim Eng. " Management believes net interest margin may be compressed if SIBOR stays low due to deposit competition." Among small caps, China Fishery fell 28.5% to 18.6 cents after the company proposed a massive rights issue to fund the redemption of US$250 million ($337.5 million) worth of bonds issued by its Peruvian unit Copeinca. Two of China Fishery' s board directors had voiced concern over the exercis' ' s dilutive impact. Pacific Andes Resources Development , China Fishery' s controlling shareholder, was not spared, falling 7.3% to 5.1 cents. Far East Hospitality Trust slipped 1.2% to 85 cents after it reported a December-quarter distribution of only 1.28 cents a unit, down from 1.42 cents a year earlier. Otto Marine fell 4.8% to four cents. The shipbuilder said it expects to report a 2014 loss due to cost overruns for a construction project and low utilisation of its vessels. |
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WanSiTong
Supreme |
11-Feb-2015 14:23
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CPF savings cannot be used to purchase securities on SGX watch-list from March next year SINGAPORE: From March next year, Central Provident Fund (CPF) members will not be able to use their CPF savings to buy securities on the Singapore Exchange (SGX) watch-list, said the CPF board today (Feb 10). The restriction serves to safeguard members& rsquo savings as securities placed on the SGX-watch list could potentially be delisted, said the board. CPF members who have already invested in securities prior to their being placed on the SGX watch-list can choose to hold or sell them or participate in corporate actions, subject to the prevailing CPF Investment Scheme (CPFIS) rules and limits for these securities, the board added. FREQUENTLY ASKED QUESTIONS, PROVIDED BY THE CPF BOARD: Q1: Why hasn& rsquo t the CPF Board disallowed the use of CPF savings for securities placed on SGX watch-list immediately? In line with SGX& rsquo s approach, CPF Board is giving affected companies a 12-month transition period to meet the new requirement of a minimum trading price of S$0.20. Q2: What options are there for members who have invested in securities on the SGX watch-list? CPF members who have invested in securities placed on SGX watch-list can choose to hold or sell or participate in corporate actions, subject to the prevailing CPFIS rules and limits for these securities. Q3: Which are the securities that may be placed on SGX watch-list from 1 March 2016? As issuers have 12 months to meet the new requirement, the list of securities will only be known from 1 March 2016. Q4: What types of securities on SGX watch-list are affected by the restriction on the use of CPF savings? The restriction will apply to securities placed on SGX watch-list and included under CPFIS which are ordinary shares, preference shares and property funds. Q5: Can CPF savings be used to purchase securities if they managed to exit from SGX watch-list? CPF savings may be used to purchase securities that have exited from the SGX watch-list if they also meet the shares or property funds inclusion criteria under CPFIS. The criteria are:
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WanSiTong
Supreme |
11-Feb-2015 13:07
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Straits Times Index up but small caps mostly lower February 11, 2015 : 12:57 PM SINGAPORE (Feb 11): The Straits Times Index held on to gains but lower liners were less sought after.
At 12:47pm (0447 GMT), the STI was up 0.3% at 3,442.84. Market breadth was negative. Global Logistic Properties led gains among blue chips, rising 3.2% to $2.58. ComfortDelGro Corp was also well supported, up 1.6% at $3.14, after its bus unit SBS Transit reported a 27.8% rise in 2014 earnings to $14.3 million. Among small caps, Mermaid Maritime fell 7% to 26.5 cents. CIMB downgraded the stock to " hold" from " add" and cut its price target to 31 cents from 45 cents, saying business for the offshore and marine company is likely to remain under pressure for the foreseeable future. Otto Marine declined 7.1% to 3.9 cents after the shipbuilder said it expects to report a 2014 loss due to cost overruns for a construction project and low utilisation of its vessels. China Fishery Group tumbled 26.9% to 19 cents on unease over the company' s proposed huge rights issue. Two of its board directors had voiced concern over the dilutive impact of the cash call. |
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WanSiTong
Supreme |
11-Feb-2015 08:36
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Singapore stocks seen edging up eyes on OCBC February 11, 2015 : 8:08 AM SINGAPORE (Feb 11): The Singapore stock market may take its cue from the US, where stocks ended higher on strong earnings from bellwether names like Apple.
The Dow Jones Industrial Average rose 0.8% to 17,868.76, the S& P 500 climbed 1.1% to 2,068.59 and the Nasdaq Composite gained 1.3% to 4,787.65. In Singapore, the Straits Times Index rose 0.5% to 3,434.24 yesterday. COMPANIES IN THE NEWS: OCBC' s 4Q2014 earnings rose 11% y-o-y to $791 million, boosted by higher interest income, fee and commission income and profits from life assurance. OCBC shares fell 0.1% to $10.60 yesterday. Far East Hospitality Trust' s 4Q2014 distribution per unit fell to 1.28 cents from 1.42 cents a year earlier. The stock rose 0.6% to 86 cents yesterday. China Fishery Group is seeking to raise as much as $296.5 million through a rights issue to redeem a set of bonds issued by its Peruvian subsidiary Copeinca. The fishing group will issue up to 1.71 billion new shares at 17.3 cents each on the basis of four rights shares for every five ordinary shares held. The rights shares are priced at a 33.5% discount to the stock' s last closing price of 26 cents on Feb 9 and a 21.8% discount to the counter' s theoretical ex-rights price of 22.1 cents. SBS Transit reported 2014 earnings of $14.3 million, up 27.8%. SBS Transit shares rose 4.2% to $1.97 yesterday. Otto Marine said it expects to report a 2014 loss due to cost overruns for a construction project and low utilisation of its vessels. Otto Marine shares fell 2.3% to 4.2 cents yesterday. Magnus Energy reported a December-quarter net loss of $1.2 million, smaller than the $79.2 million loss for the same period a year earlier. Magnus Energy shares rose 33.3% to 0.4 cent yesterday. Chasen Holdings ' reported December-quarter earnings of $299,000, compared with a loss of $320,000 a year earlier. Chasen shares rose 3.1% to 13.5 cents yesterday. Stamford Land ' s December-quarter earnings fell 14.7% y-o-y to $12.8 million. Stamford Land shares fell 0.9% to 55.5 cents yesterday. Fragrance Group ' s 4Q2014 earnings fell 40.4% y-o-y to $79.7 million. Fragrance shares ended flat at 22.5 cents yesterday. Asia Enterprises Holdings ' 4Q201 earnings came in at $379,000, little changed from the $378,000 a year earlier. Asia Enterprises shares ended flat at 20.5 cents yesterday. UG Healthcare Corp' s earnings for the six months to Dec 31 fell to $2.4 million from $2.9 million a year earlier. UG Healthcare shares fell 1.8% to 27.5 cents yesterday. LionGold Corp reported a net loss of $12.5 million for the quarter ended Dec 31. It had a $10.9 million loss in the same period a year earlier. LionGold shares ended flat at 1.9 cents yesterday. Technics Oil & Gas reported a net loss of $593,000 for the December quarter. It earned $343,000 a year earlier. Technics shares ended flat at 69.5 cents yesterday. Next-Generation Satellite Communications is seeking to acquire Clearwater Capital Management for $15 million. Clearwater Capital is the general partner of AP Special Situations Fund II. Next-Generation shares ended flat at 0.3 cent yesterday. |
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WanSiTong
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11-Feb-2015 07:57
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Dow 17,868.76 +139.55 +0.79%
US: Stocks rally Apple hits all-time high
11 Feb 6:34 AM
[NEW YORK] Wall Street stocks rallied Tuesday, with tech giant Apple hitting an all-time high and investors applauding encouraging earnings from Coca-Cola and other upbeat company news. The Dow Jones Industrial Average advanced 139.55 points (0.79 per cent) to 17,868.76. The broad-based S& P 500 gained 21.85 (1.07 per cent) at 2,068.59, while the tech-rich Nasdaq Composite Index surged 61.63 (1.30 per cent) to 4,787.64. Apple, the largest US company by market capitalization, leaped to a record high close on the US tech giant' s gains in the smartphone market, expansion of its mobile payments and its soon-to-arrive smartwatch. Shares rose 1.9 per cent to close at US$122.02, lifting Apple' s market value to US$710 billion, the first company to hit the US$700 billion milestone close. JetBlue Airways announced it would be the first major domestic carrier in the US to accept Apple Pay, Apple' s mobile payment tool, in-flight. JetBlue rose 2.1 per cent. First Solar jumped 4.8 per cent after announcing that Apple agreed to commit US$848 million for solar energy to power its data centers. Dow member Coca-Cola rose 2.8 per cent as fourth-quarter earnings translated into 44 cents per share, two cents above analyst estimates. Starwood Hotels and Resorts added 6.6 per cent as fourth-quarter earnings soared 82.8 per cent to US$234 million. Starwood also announced it would spin off its time-share business into a separate publicly traded company. Chipmaker Qualcomm rose 4.7 per cent following news it will settle an antitrust probe in China. Qualcomm will pay US$975 million and modify its business practices in the country. A note from Deutsche Bank said the agreement removes a major overhang from the stock. General Motors added 4.2 per cent as it disclosed that it received notice from a consortium of hedge funds seeking US$8 billion in share repurchases. The shareholders also put forward Harry Wilson as a nominee to the GM board. GM said it would evaluate the candidacy of Wilson, who worked on the Obama administration' s auto task force that helped with the automaker' s bankruptcy restructuring. Online listings and review site Yelp rose 5.9 per cent after announcing it would acquire Eat24, an online food ordering service with access to about 20,000 restaurants across the US. The transaction is valued at US$134 million. Martin Marietta Materials, which sells concrete and other building materials, surged 15.2 per cent as fourth-quarter earnings jumped 78 per cent to US$64 million. Bond prices fell. The yield on the 10-year US Treasury advanced to 1.99 per cent from 1.96 per cent Monday, while the 30-year rose to 2.58 per cent from 2.54 per cent. Bond prices and yields move inversely. |
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GorgeousOng
Supreme |
11-Feb-2015 07:09
Yells: "Hehehaha...enjoy life n live to the fullest..." |
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HSBC ' met illegally' in 25 countriesWed, 11 Feb 2015 00:45:00 +0700 GENEVA - Bankers from HSBC' s Swiss division held hundreds of often illegal meetings with wealthy clients in 25 countries as part of their efforts to open undeclared accounts for them, Swiss media reported Tuesday. 
Files claim HSBC' s Swiss division helped clients in more than 200 countries evade taxes on accounts containing $119 billion (104 billion euros) The latest files in the so-called SwissLeaks affair shows that during 2004 and 2005 the bankers had at least 1,645 meetings in 25 countries with clients or prospective clients, the newspapers Tages Anzeiger and Le Temps reported. The meetings occurred in places as diverse as luxury hotels in Paris and Tel Aviv, a piano bar in Antwerp, the airport in Pointe-Noire, Congo, and a summer residence in Copenhagen. The meetings conducted by " relations managers" were legal if they were just courtesy calls but not if business was done, such as when the bank obtained new funds or helped customers avoid taxes, the papers said. Five of the 25 countries -- the United States, France, Argentina, Spain and Belgium -- have begun legal action against HSBC Switzerland. According to one SwissLeaks file, a retired Turkish-born man met in Paris in January 2005 with a relations manager. " The customer wanted to see me to discuss closing two accounts with Barclays and UBS and transferring the (money) to us," the file quoted the manager as saying, adding that he expected the bank to receive about one million dollars in the transaction. The papers reported that the bankers also used the meetings to propose to their customers ways to avoid a European tax on deposits in Switzerland held by Europeans. The tax, called the European Savings Directive, took effect in 2005. As the directive concerned only accounts held by physical persons, HSBC Switzerland proposed that its clients create offshore companies and place their funds there, according to the files. The files created global shockwaves on Monday, highlighting the financial dealings of the world' s ultra-rich and prompting British lawmakers to launch an inquiry into the London-based bank. Celebrities, alleged arms dealers and politicians are named in the files, though their inclusion does not necessarily imply wrongdoing. Published at the weekend, the files claim that HSBC' s Swiss division helped clients in more than 200 countries evade taxes on accounts containing $119 billion (104 billion euros). Herve Falciani, an IT worker turned whistleblower, stole the files in 2007 and passed them to French authorities, but they had not been previously made public. The International Consortium of Investigative Journalists obtained the files via French newspaper Le Monde and shared them with more than 45 other media organisations worldwide. |
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WanSiTong
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10-Feb-2015 20:54
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Singapore shares inch up DBS bucks decline by banks February 10, 2015 : 5:59 PM SINGAPORE (Feb 10): The Straits Times Index eked out modest gains as investors kept an eye on local corporate earnings and developments in Europe, where Greece is seeking to strike a new bailout plan with creditors. " We expect that a solution to the current stand-off will be reached and that it will likely be one based on semantics - i.e. one where the official creditors are reassured a policy anchor remains in place but where the Greek government can also claim it has escaped the strictures of Troika supervision," said Rabobank. The STI rose 0.5% to 3,434.24. Overall market activity was subdued, with 973.6 million shares worth $1.12 billion changing hands, compared with 1.08 billion shares worth $1.04 billion on Monday. Market breadth was neutral, with 207 gainers compared with 204 decliners. ComfortDelGro Corp led gains among blue chips, rising 5.1% to $3.09, as the market continued to bet that the company will be a prime beneficiary of upcoming government-initiated changes to Singapore' s rail and bus operating models. DBS rose 0.3% to $19.50 after having trading lower for most of the session. The bank reported 4Q2014 results in the morning. Earnings fell 17% q-o-q but rose 4% to $838 million. " While acknowledging that 4Q14 was a tough period due to the high volatility which impacted the contribution from its non-interest income, management' s general tone for 2015 is still fairly upbeat as they guided for loans growth of 8% for 2015," said OCBC Investment Research. OCBC slipped 0.1% to $10.60 while UOB declined 0.2% to $23.48. Both banks are slated to announce results this week. Singapore Airlines rose 2.9% to $12.18 as investors looked past the carrier' s weak December-quarter results announced last Friday. " We see further yield upside as SIA introduces its premium economy class, which will be launched in August 2015," said Morgan Stanley. " This reduces direct competition with low-cost carriers on economy seats and at the same time allows SIA to target budget-conscious corporate travellers." Among lower liners, DMX Technologies Group tumbled 19.3% to 13 cents, with 10.2 million shares traded, after the company said both its CEO and chief financial officer were arrested by the Commercial Crime Bureau of the Hong Kong police force last week. No formal charges have been made against the company or the two individuals. |
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teeth53
Supreme |
10-Feb-2015 16:02
Yells: "don't learn through life, learn to grow with life " |
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Home to 28 billionaires, Singapore has Asia&rsquo s fifth largest billionaire population and the world&rsquo s 18th largest, according to the Wealth-X and UBS Billionaire Census 2013. The city-state is behind China, India, Hong Kong and Japan but is ahead of Taiwan, Indonesia and South Korea. Globally, 2,170 individuals are listed on this ultra-rich category this year. Individuals have a combined net worth that grew by more than two-fold to US$6.5 trillion (S$8 trillion) in 2013 from US$3.1 trillion (S$3.85 trillion) in 2009. That is enough to finance the US budget deficit till 2024 and is more than the GDP of any country except China and the United States. In general, a Singapore billionaire is 64-years-old with at least a university degree and has most likely made a fortune from banking, investments and finance. Self-made billionaires account for 44% of Singapore&rsquo s billionaires or more than double the percentage of Hong Kong&rsquo s self-made billionaires at 20%. In addition, only 15% amassed their fortune through an inheritance, while 41% inherited and subsequently grew their wealth. Singapore has emerged as Asia&rsquo s top city of residence for billionaires from Indonesia, India and China.
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teeth53
Supreme |
10-Feb-2015 15:57
Yells: "don't learn through life, learn to grow with life " |
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http://www.nationmultimedia.com/business/Spore-overtaken-by-HK-in-ranking-of-largest-wealth-30253710.html
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teeth53
Supreme |
10-Feb-2015 15:55
Yells: "don't learn through life, learn to grow with life " |
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Germany posting record surplus gives fodder to economy' s critics9 Feb3:10 PM
[FRANKFURT] Germany posted a record current-account surplus in 2014, setting the stage for renewed international calls to address its economic imbalances. The surplus rose to 215.3 billion euros (US$244 billion) last year from 189.2 billion euros in 2013, the Federal Statistics Office in Wiesbaden said on Monday. That' s equal to 7.4 per cent of the country' s gross domestic product, and exceeds the 176.7 billion euros China logged. The data, which come as finance chiefs of the world' s leading industrialized and emerging economies meet in Istanbul, are likely to rekindle criticism of Germany' s economic policy by institutions such as the International Monetary Fund and the European Commission. |
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WanSiTong
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10-Feb-2015 13:24
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Singapore shares retain gains DBS trails peers February 10, 2015 : 12:46 PM SINGAPORE (Feb 10): Singapore shares held on to slim gains, with investors keeping an eye on corporate earnings and on developments in Europe, where Greece is seeking to strike a new debt repayment plan with creditors. At 12:36pm (0436 GMT), the Straits Times Index was up 0.4% at 3,431.69. Market breadth was neutral. ComfortDelGro Corp stood out among blue chips, rising 3.7% to $3.05, as investors continued to bet that the company is in pole position to benefit from upcoming government-initiated changes to Singapore' s rail and bus operating models. DBS slipped 0.3% to $19.40, bucking gains by OCBC and UOB after the bank reported a surge in provisions for bad loans in 2014. OCBC rose 0.1% to $10.62 and UOB climbed 0.4% to $23.62. Geo Energy Resources fell 2.4% to 20.5 cents with more than 21 million shares traded, making it the most active stock in the market, in a sign that the market is unsure about the coal miner' s tie-up with a Chinese state-owned enterprise to build and operate two coal-fired power stations in Indonesia. The company said yesterday it will work with China Nuclear Industry 22nd Construction (CNI22) on a non-exclusive basis in Indonesia for two years. DMX Technologies slumped 19.3% to 13 cents on uncertainty over its business after the IT company said both its CEO and chief financial officer had been arrested in Hong Kong. |
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