7May
SGX2

Financial Sgx Singapore Stock Market Trading Picks And News – 07th May 2014

MARKET UPDATES

  • PERENNIAL China Retail Trust posted a distribution per unit of 95 Singapore cents for its first quarter ended March 31, 2014, unchanged from a year ago.Distributable income, too, held steady at S$10.9 million. The trust also reported net property income (NPI) of S$209,000 on the back of S$2 million in revenue, a reversal from losses of S$433,000 and no revenue generated in the corresponding quarter a year ago.
  • US-based supply chain firm Menlo Logistics opened its eighth facility in Singapore on Tuesday. Worth S$127 million and located at Mapletree Benoi Logistics Hub, the new warehousing and distribution centre will mainly serve the global wine and spirits industry.
  • SINGTEL has been fined a record-breaking S$6 million for the fire at its Bukit Panjang exchange facility in October last year, which disrupted services for homes and businesses across the island. The regulator, the Infocomm Development Authority of Singapore (IDA), found that the telco’s business continuity management policies did not have “specific contingency plans” for an outage of such a scale. IDA also noted other weaknesses in SingTel’s network and practices.

STOCK RECOMMENDATION:

  • BUY GENTING SINGAPORE LTD ABOVE 1.355 TG 1.385, 1.425, 1.470 SL 1.315

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