MARKET UPDATES :
- Mainboard-listed tourism operator Straco Corporation could be getting ready to announce its acquisition of the Singapore Flyer, The Business Times understands. The firm was among the frontrunners to buy the iconic Ferris wheel by the Esplanade. Straco currently runs two aquariums and a mountain cable car service in China. Its shares have surged 157 per cent from a year ago. Straco last closed at 82 cents, near a historical high.
- THE roughly 300 investment funds approved by the Central Provident Fund (CPF) continued to do well amid liquidity from central banks and low volatility. The average fund under the CPF Investment Scheme (CPFIS) posted a 3.73 per cent return in the three-month period ended June 2014. On average, this beat the 4 per cent minimum interest rate offered by the CPF Special, Medisave and Retirement Accounts (SMRA).
- SINGAPORE LNG Corporation (SLNG) has awarded a S$700 million engineering, procurement and construction contract for the Phase 3 expansion of the Singapore LNG Terminal to Samsung C&T Corporation. The contract, signed on August 26, involves the further expansion of the terminal to include a fourth liquefied natural gas (LNG) storage tank and additional regasification facilities.
STOCK RECOMMENDATION :
- BUY DBS GROUP HOLDING ABOVE 18.000 TG 18.100, 18.220, 18.350 SL 17.870