MARKET UPDATES :
- SWIBER Holdings has priced 450 million yuan (S$92.5 million) in principal amount of 7.75 per cent fixed rate notes due 2017, the group said on Monday night.Net proceeds raised will be used for financing the general working capital and capital expenditure requirements of the group.
- DUTCH Bank ABN Amro on Monday announced the launch of an Asian corporate finance advisory business which will be based in Singapore. This team will originate as well as execute cross-border merger and acquisitions in Australia, Bangladesh, China, Hong Kong, India, Indonesia, Japan, Malaysia, South Korea and Japan. It will also provide equity capital markets capabilities in Singapore.
- THE second quarter was “pretty muted” for Singapore telcos, with all of them reporting results that were were within expectations amid the still-intense competition in the fibre broadband market, OCBC Investment Research said in a Monday report. SingTel saw a 2 per cent year-on-year earnings drop while StarHub reported a 6 per cent decline; only M1 bucked the trend and saw a 12 per cent jump instead.
- MORE small and medium-sized enterprises (SMEs) are facing rising business costs and seeing a drop in profit margins, an annual SME survey conducted by the Singapore Chinese Chamber of Commerce & Industry (SCCCI) found. Rising business costs, on the back of climbing employee salaries and rentals, is just one of the two key challenges that SMEs face. They also struggle with manpower shortage.
STOCK RECOMMENDATION :
- BUY JARDINE STRATEGIC HOLDING ABOVE 37.650 TG 38.000, 38.300, 38.700 SL 37.300