23Apr
SGX2

financial Sgx Singapore Stock Market Trading Picks And News – 23th April 2014

MARKET UPDATES

  • The Infocomm Development Authority of Singapore launched a public consultation on Tuesday to seek views on how to use spectrum over the mid- and long term, as well as how competition in the mobile market can be increased. On the competition front, it wants to examine how the entry of mobile virtual network operators catering to niche markets can be encouraged, among other things.
  • CHIEF financial officers (CFOs) in Asia are significantly more confident about growth prospects this year than their US counterparts. This is according to findings from Bank of America Merrill Lynch’s 2014 CFO Outlook Asia survey, released on Tuesday. More than three-quarters (76%) of Asia’s finance chiefs expect revenues to grow this year, up from 72% last year.
  • CONSTRUCTION company CCM Group has received a notice of termination on a condominium in Balestier they are building. The contract was terminated “on the grounds of alleged breaches of contract”, CCM said on Tuesday. The company said it is seeking legal advice and is evaluating the financial impact of this development. The contract, secured on August 2011, was worth S$32.3 million. It was awarded by Orion-One Residential to CCM subsidiary CCM Industrial.

STOCK RECOMMENDATION

  • BUY CITY DEVELOPMENT LTD ABOVE 11.000 TG 11.100, 11.200, 11.320 SL 10.880

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