MARKET UPDATES :
- OCBC on Monday unveiled its long-awaited rights issue, which would back its Wing Hang purchase. Looking at the broader market, there are also fears that the deepening conflict between Ukraine and Russia could dampen sentiment this week.OCBC on Monday announced a S$3.37 billion rights issue, which will go towards funding its acquisition of Hong Kong’s Wing Hang Bank.
- UPSTREAM oil and gas company KrisEnergy said on Monday it would begin the marketing and sale of a new issuance of notes under its S$500 million medium term note (MTN) programme.The notes will be marketed and sold to institutional and sophisticated investors. The net proceeds from the sale will be used for planned capital
- THE Monetary Authority of Singapore (MAS) is likely to maintain a modest and gradual appreciation bias of the Sing dollar at its October policy meeting, a BofA Merrill Lynch Global Research note said on Monday.
STOCK RECOMMENDATION :
- BUY JARDINE STRATEGIC HOLDING ABOVE 36.650 TG 36.850, 37.150, 37.450 SL 36.350