5Mar
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Sgx Singapore Stock Market Trading Updates And Recommendation – 5th March 2014

MARKET UPDATES
  • Singapore’s latest purchasing managers’ index (PMI) has moved further into expansion territory, with a reading of 50.9 in February.This followed a January reading of 50.5 and surpassed market economists’ consensus forecast of 50.3.
  • Golden Agri-Resources Ltd (GAR, Ba2 stable) released its results for 2013 on Friday. While reported EBITDA of US$662 million was 15.7 percent lower than the US$785 million achieved in 2012, and gross debt increased over the year from US$1.85 billion to reach in US$2.58 billion in December 2013, there is no immediate impact on the rating.
  • Metro will be replacing Robinsons as the anchor tenant at The Centre point after Robinsons’ lease ends in May this year. The new Metro store, occupying 130,000 sq ft of retail space over six floors of the mall, will likely be completed by the fourth quarter of 2014.

STOCK RECOMMENDATION

  •   BUY OLAM INTERNATIONAL ABOVE 1.800 TG  1.840, 1.880, 1.940 SL 1.740

 

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