MARKET UPDATES :
- LISTED Straco Corporation Limited’s subsidiary, Straco Leisure, has emerged as the buyer of the Singapore Flyer Pte Ltd for S$140 million. Straco Leisure is a joint venture between Bay Attractions Pte Ltd, a wholly owned subsidiary of Straco Corp, and WTS Leisure Pte Ltd.
- PRICES of completed non-landed private homes in Singapore dipped 0.3 per cent in July compared with June, according to the latest flash estimates of the National University of Singapore’s Overall Singapore Residential Price Index (SRPI). The revised index value for June reflects a 0.5 per cent month-on-month drop
- OCBC Bank is giving shareholders who are also customers a sweetener for taking part in a rights issue. The bank is offering one rights share for every eight existing shares held at S$7.65 apiece as it hopes to raise S$3.37 billion to help fund its S$6.2 billion offer for Hong Kong’s Wing Hang Bank.
- ENERGY exploration and production company Linc Energy has agreed to sell its Carmichael coal-mine royalty deed in Australia to India’s Adani Group for A$155 million (S$180 million) in cash.
STOCK RECOMMENDATION :
- BUY SIA ENGINEERING ABOVE 4.590 TG 4.640, 4.690, 4.750 SL 4.520