MARKET UPDATES :
- SINGAPORE is the world’s second most competitive economy for the fourth year running, according to the World Economic Forum’s (WEF’s) latest Global Competitiveness Index (GCI). The 2014-2015 report released on Wednesday had Switzerland in first place for a sixth consecutive year. Using 12 pillars – including infrastructure, macroeconomic environment, health and primary education – the WEF GCI ranks the competitiveness performance of 144 economies worldwide, and is the most comprehensive assessment of its kind globally.
- TUAN Sing Holdings Limited on Wednesday said it would buy over the 50 per cent stake in Australia’s Grand Hotel Group (GHG) belonging to joint venture partner Morgan Stanley, for A$126.04 million (S$146.5 million). When the deal is completed, Tuan Sing will have full control in GHG, which owns two five-star hotels in Australia – Grand Hyatt Melbourne and Hyatt Regency Perth.
- JURONG Shipyard, a wholly owned unit of Sembcorp Marine is selling two tranches of bonds, one with a long 15-year duration, not seen in recent years for non-bank corporate issuers. This is a new issue by Jurong Shipyard, and two tenures are on offer – seven years and 15 years – according to a termsheet seen by The Business Times on Wednesday. The price guidance for seven-year bonds is low 3 per cent while the 15-year is in the 4 per cent area.
STOCK RECOMMENDATION :
- BUY CAPITALAND LTD ABOVE 3.380 TG 3.430, 3.480, 3.540 SL 3.320