14Jan
sgx

Financial Sgx Singapore Stock Market Trading Picks And News – 14 January 2015

MARKET UPDATES :

  • BUSINESS costs and manpower remain key areas of concern for businesses, according to the pre-Budget survey conducted by the Institute of Singapore Chartered Accountants (ISCA).Of the government schemes, businesses find the Productivity and Innovation Credit (PIC), PIC Bonus, WCS, and PIC+ for qualifying SMEs to be relatively more useful for raising productivity. Businesses express the desire for such schemes to remain for at least three to 10 years, in order for businesses to be effective in raising productivity, said ISCA on Tuesday.
  • THE Singapore government is currently reviewing the Prevention of Corruption Act and will beef up the manpower of the Corrupt Practices Investigation Bureau (CPIB) by more than 20 per cent.These and other initiatives were announced by Prime Minister Lee Hsien Loong at the inaugural “Integrity in Action” public service values conference organised by the CPIB and the Civil Service College. Mr Lee also announced the setting up of a new one-stop corruption reporting centre – likely to be housed in the city area – so that complaints can be made more discreetly and in a more accessible manner. This reporting centre will be co-located with a permanent heritage gallery to educate members of the public.
  • Singapore’s non-oil domestic exports in December were expected to fall versus a year earlier, a Reuters poll found, after recent business surveys showed the global economy ended 2014 on weak footing.Singapore’s non-oil domestic exports (NODX) in December were expected to have fallen 2.3 per cent from a year earlier, according to the median forecast in the survey of 12 economists, after rising 1.6 percent year-on-year in November.
  • Singapore Press Holdings (SPH) through its new $100 million media fund has invested in Netherlands-based Crowdynews, a social media curation platform for media companies that just raised €2.5 million (S$3.9 million) in its first round of venture capital funding. It plans to use the funds to continue its global expansion with media and newspaper companies. Customers include the Chicago Tribune, Washington Times, AccuWeather and hundreds of other media outlets around the world.
  • Singapore – MAS set to ease its exchange rate policy stance-:The Monetary Authority of Singapore (MAS) officially easing monetary policy in April. nderlying the change in our view is the weaker outlook for headline inflation, which could have made the central bank more concerned. Headline inflation is likely to end the year at a paltry 0.6%yoy, with bouts of negative prints likely over the year. Domestic demand is unlikely to provide much support, weighed down by a correction in the property market and household debt overhang. Yet, global growth is still moribund with Europe stagnant and Chinese growth slowing, at least until the positive impact of lower oil prices translates into stronger global demand.
  • India’s move to hike the import duties on crude edible oils and refined edible oils by 5% pts to 7.5% and 15%, respectively, is negative for palm oil producers but positive for Indian farmers and refiners. This decision does not come as a surprise to us as the oilseed industry has lobbied the government to raise the import duties for edible oils since the middle of this year. The higher duties will reduce the competitiveness of imported palm oil in India against locally produced edible oils.

STOCK RECOMMENDATION :

  • BUY DATASONIC ABOVE 1.225 TARGET 1.255 1.305 SL 1.175

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