MARKET UPDATES :
- Singapore shares dipped on Wednesday with the benchmark Straits Times Index down 5.28 points to close at 3,292.81. Volume was 1.28 billion shares worth S$860 million. Losers outnumbered gainers 223 to 175.
- The Asia-Pacific Trade and Investment Report (APTIR) 2014 published by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), the developments in 2013 and so far in 2014, continue to show that the prolonged consequence of the global 2008 financial crisis is still posing risks to the trade prospects of Asia and the Pacific.
- THE ANZ-Roy Morgan Singapore Consumer Confidence Index rose slightly in September from a month ago to 120.7 points, said ANZ Research on Wednesday. The slight increase in confidence over the month – up just 1.7 points – was driven by an improvement in the assessment of current and future financial situations, according to the index, which was launched early this month. This contrasts with a sharp 16.9-point dive.
- CUSHMAN & Wakefield said on Wednesday that Singapore Grade A office rents are expected to rise to the highest since 2008 by the end of this year. This comes as average Grade A overall rents has already risen to their highest in three years to S$10.20 per square foot per month or 2 per cent higher than a quarter ago, and 9.9 per cent stronger than a year ago. Some new leases recorded during the quarter include advertising and marketing firm Publicis taking up 33,000 square feet (sq ft) of space at [email protected] At 6 Battery Road, insurance broker Willis has signed a lease for about 22,000 sq ft of space, while management consultancy firm Bain & Company took up an 18,000 sq ft unit in South Beach.
- JUMBO Group plans to sell shares to raise about S$30 million in an IPO, said Bloomberg on Wednesday, citing sources. Jumbo intends to use some of the proceeds to expand in China, Bloomberg said. It cited a company spokeswoman saying that Jumbo does not discount such plans, but would not comment on “market speculations”.
- British holidays and airline company Monarch is set to be acquired by Greybull Capital after the London- based family investment firm was named as its preferred bidderThe new owner would invest around £75 million (S$155.8 million) in the airline, a person familiar with the matter said, to help fund its plan to turn into a budget airline to better compete against Europe’s biggest low-cost carriers Ryanair and easyJet .
- NEC Corporation said on Wednesday that it is partnering Singapore’s Economic Development Board (EDB) to grow the pool of specialists to counter cyber threats The multi-year agreement through EDB’s Strategic Attachment and Training (Strat) Programme aims to equip qualified cybersecurity professionals and graduates with skills in areas of malware analysis, incident response, intrusion detection, digital forensics and vulnerability assessment According to a Mckinsey and World Economic Forum report, delays in adopting cybersecurity capabilities could result in a loss of US$3 trillion in economic value by 2020 globally.
- SINGAPORE mutual fund investors want a stream of income from their investments and have a stronger home bias than regional investors. These were the main takeaways from an online survey of 300 investors here, commissioned by Prudential’s Asia asset management arm Eastspring Investments. The desire forincome is more pronounced among those who are married with children and those who are planning to buy a mutual fund in the next six months. Asked how they would change their strategy if there is an interest rate hike, nearly a quarter said they would invest more in an income-generating fund. Eastspring’s survey was conducted in July. Out of the 300 Singapore investors surveyed, two-thirds were mutual fund investors and one-third comprised prospective investors.
- Singapore offshore oilfield services company Ezra Holdings has agreed to defer for up to three years the majority of cash owed for assets bought by affiliate Emas Offshore Ltd. Ezra in July said it planned to sell its offshore support services division to Emas Offshore for US$520 million, made up of US$370 million worth
STOCK RECOMMENDATION :
- BUY CITY DEVELOPMENT LTD ABOVE 9.700 TG 9.780, 9.880, 10.000 SL 9.600