MARKET UPDATES :
- DBS Bank on Monday announced two senior management appointments as it seeks to build a regional leading transaction banking business, one of the bank’s strategic priorities. John Laurens, an industry veteran with over 30 years of banking experience, will join DBS on November 10 as head of global transaction services (GTS).
- SINGAPORE’S GIC, together with affiliates of Blue Water Energy and Blackstone Energy Partners are investing US$500 million in Siccar Point Energy Limited, a new exploration, development and production company focused on the North Sea.
- BMW Financial Services on Monday signed a strategic partnership with DBS Bank which will offer a range of car financing facilities to customers of BMW, MINI and Rolls-Royce vehicles. The partnership, which takes effect from September 4, rides on an existing co-operation between the BMW Group and DBS within the Asia region.
- ASCENDAS Reit (A-Reit) had the highest annualised turnover velocity in the first seven months of 2014 at 67.5 per cent, making it the most active stock among the seven industrial reits listed on the Singapore Exchange. In July, Ascendas Reit reported net property income of S$116.3 million for the first quarter ended June 30, 2014, an increase of 7.7 per cent from S$108.0 million a year ago.
STOCK RECOMMENDATION :
- BUY SMRT CORPORATION ABOVE 1.590 TG 1.615, 1.650, 1.690 SL 1.550