MARKET UPDATES :
- GLOBAL Logistic Properties Limited (GLP) said it will sell nine properties in Japan to associate GLP J-Reit for 53.8 billion yen (S$659 million).These properties comprise a total gross floor area of 237,000 square metres.GLP, the property and asset manager of J-Reit, said it plans to recycle the sales proceeds to retain its 15 per cent stake in J-Reit and in developments in China, Japan and Brazil.
- FOOD and beverage (F&B) firm Super Group reported a 59 per cent slump in net profit to S$15.04 million for the second quarter ended June 30, 2014, compared to a year ago when there was a S$17.1 million boost from the sale of an associate.
- GOLD mining company CNMC Goldmine Holdings reported a net profit of US$4.44 million for the second quarter ended June 30, 2014, up from US$26,180, bolstered by a record fine gold production volume. Revenue shot up by over 272 per cent year on year to US$8.27 million as the significant increase in the production and sales volume of fine gold in Q2FY14 offset the lower average realised gold price. Earnings per share jumped to 1.09 US cent, up from 0.01 US cent previously.
STOCK RECOMMENDATION :
- BUY OLAM INTERNATIONAL ABOVE 2.500 TG 2.530, 2.600, 2.660 SL 2.460