8May
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Financial Sgx Singapore Stock Market Trading Picks And News – 08th May 2014

MARKET UPDATES

UOL Group posted a 69 per cent year-on-year improvement in group net profit to S$120.8 mn for the first quarter ended March 31, 2014. This was due mainly to the sale of land at Jalan Conlay, Kuala Lumpur, which netted a one-off attributable gain of S$44.3 mn. Group revenue rose 65% to S$408.8 mn, of which the KL land sale accounted for S$218.5 mn.

•CERTIFICATE of entitlement (COE) premiums for cars in Singapore fell in the latest bidding round, which closed on Wednesday.

•The COE for small cars dropped from S$71,335 to S$60,002 while the premium for big cars declined from S$75,010 to S$70,002.

•Meanwhile, in the open category, the COE premium registered S$65,501, down from S$73,810 in the last round of bidding in April.

•For motorcycles, the COE premium slipped to S$4,001, down from S$4,502, while the COE price for goods vehicles and buses.

•JTC Corporation on Wednesday said that first-quarter gross allocation of prepared industrial land (PIL) in Singapore fell to 48 ha, from 118.1 ha in the fourth quarter last year. Returns for PIL also fell to 36.1 ha in the first quarter, resulting in a positive net allocation for PIL at 11.9 hectares (ha).

STOCK RECOMMENDATION:

•BUY WILMAR INTERNATIONAL ABOVE 3.300 TG 3.350, 3.400, 3.460 SL 3.230

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