MARKET UPDATES :
- LED by International Enterprise (IE) Singapore and the Singaporean-German Chamber of Industry and Commerce, 10 Singapore technology SMEs (small and medium-sized enterprises) will showcase their products to prospective partners at the upcoming IFA 2014.
- SBS Transit’s second quarter net profit rose 57.2 per cent to S$4.96 million, up from S$3.16 million a year ago. Revenue rose 12.3 per cent, from $209.34 million to S$235.13 million. Revenue from the bus segment was 10.3 per cent higher at S$186.3 million, compared with S$168.9 million previously, as a result of an increase in average daily ridership, average fares and other operating income.
- THE Singapore economy grew 2.4 per cent in the second quarter of 2014; above the government’s July estimate of 2.1 per cent, but slower than Q1’s growth of 4.8 per cent. This was largely due to a sharp slowdown in the manufacturing sector, although expansion in the services and construction sectors moderated as well.
- SINCAP Group has entered into a term sheet to acquire investment holding firm LTN Land for S$38.5 million.Sincap’s group chief executive Ng Hong Wheel owns an 18 per cent stake in LTN Land.
STOCK RECOMMENDATION :
- BUY DBS GROUP ABOVE 18.100 TG 18.200,18.300,18450 SL 19.950