Monthly Archives: March 2019


Singapore Stocks Watch: Singapore shares ascend at Tuesday’s open; STI up 0.65% to 3,203.62

Singapore Stocks Watch: SINGAPORE stocks opened higher on Tuesday, with the Straits Times Index rising 0.65 percent or 20.7 focuses to 3,203.62 as at 9.03am.

Gainers dwarfed washouts 96 to 28, or around seven securities up for each two down, after 46.3 million securities worth S$79.4 million changed hands.

Among the most vigorously exchanged by volume, Sino Grandness Food Industry Group increased 8.2 percent or S$0.005 to S$0.066 with 6.1 million offers exchanged. Singtel expanded 0.7 percent or S$0.02 to S$2.99 with 3.5 million offers exchanged.



Dynamic list stocks included DBS Group Holdings, up 0.6 percent or S$0.16 to S$25.28; and OCBC Bank, up 0.9 percent or S$0.10 to S$11.09

Stocks to watch: Singtel, LionGold, New Silkroutes,

THE accompanying organizations saw new improvements that may influence exchanging of their offers on Tuesday:

Singtel: Mainboard-recorded Singtel has brought McKinsey’s previous overseeing chief on board its board. Dominic Barton, 56, turned into an autonomous executive on Monday, the telco unveiled in a bourse recording. The Canada occupant, who sits on the Economic Development Board’s International Advisory Council, is likewise chancellor of the University of Waterloo and executive of Toronto-recorded digger Teck Resources. Singtel shut level at S$2.97 before the arrangement was reported.

LionGold Corp: Catalist-recorded LionGold Corp intends to scrap a membership understanding for S$100 million in redeemable convertible securities, in front of a different offer issuance to a couple of Chinese private speculators. It will pay controlling investor Premier Equity Fund Sub Fund E an end charge of S$500,000 in real money, and another S$51,291.10 to cover the exceptional vital and premium gathered, said the board, which noticed that “the end expense was proposed by the supervisor and consented to by the board”. LionGold shares last exchanged level at 0.1 Singapore penny.

New Silkroutes Group: An auxiliary of New Silkroutes Group has sold its whole stake in International Energy Group for US$10 million in real money, the gathering said in a Singapore Exchange (SGX) recording on Monday. The closeout of the oil and gas exchanging organization by New Silkroutes Capital is liable to specific conditions, including endorsements from the SGX and investors. Following the transfer, the organization will turn into an undeniable medicinal services gathering. The stock keep going exchanged at US$0.185 on March 22.

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Singapore Stocks Watch: STI resumes Friday afternoon at 3,212.19, down 0.01% on day

Singapore Stocks Watch:
SINGAPORE stocks a continued afternoon exchanging negative area on Friday, with the Straits Times Index losing 1.46 focuses, or 0.05 percent to 3,212.19 as at 1.02pm.

Washouts dwarfed gainers 152 to 147, after about 446.3 million offers worth S$447.7 million traded hands.

Among the most intensely exchanged counters by volume, AEM Holdings increased 4.2 percent, or five Singapore pennies to S$1.24 each, with 14.6 million offers exchanged.

Other dynamic stocks included CapitaLand which lost 1.4 percent, or five Singapore pennies to S$3.46, and SGX which fell 1.4 percent, or 10 Singapore pennies to S$7.31.

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Jump in Hong Fok’s offer value prompts SGX RegCo inquiry

BOURSE controller Singapore Exchange Regulation (SGX RegCo) has questioned property engineer Hong Fok over “irregular value developments” in its offers as of late. The controller did not explain the period being referred to nor the size of the value change. The company’s offer cost was up about 6.42 percent on Friday morning.

SGX RegCo’s head of observation Kelvin Koh, in an open question issued on Friday morning, asked the mainboard-recorded organization on the off chance that it had any data that was not declared or on the off chance that it knew about any bits of gossip that could clarify the value development of its offers.

“Such data may incorporate occasions that are possibly material and value touchy, for example, dialogs and exchanges that may prompt joint endeavors, mergers, acquisitions or buy or clearance of a critical resource,” Mr Koh said.

The Business Times noticed that Hong Fok’s offer value rose 6.42 percent to 99.5 Singapore pennies on Friday morning in under two hours of exchanging from the opening chime, making it one of the best 10 propelling stocks regarding rate. Further, the stock advanced around 15 percent in exchanging value this week.

The stock cost has been on a climb since March 5 when it was exchanging at 72.5 Singapore pennies, aside from a plunge on Wednesday when it reported a fixed-salary offering of S$100 million.

Moreover, exchanging volume hit over 4.6 million offers over Tuesday to Thursday, practically triple the 1.5 million offers proceeded onward Monday.

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Singapore Stocks Watch: Former HUDC domain Braddell View to dispatch en alliance deal with S$2.08b save cost

Singapore Stocks Watch: SINGAPORE’s biggest private site – Braddell View – will be propelled for aggregate deal by open delicate on March 27 at a hold cost of S$2.08 billion, with private proprietors remaining to get between S$2 million and S$4 million each, promoting specialist Colliers International said on Tuesday.

This comes after 80 percent of the proprietors, by both offer esteem and strata region, consented to put the advancement available.

The hold value works out to a land rate of S$1,199 per square foot per plot proportion, comprehensive of the differential premium to increase land use, and to top up the rent to a new 99 years which is assessed at S$795.1 million.

The delicate will close at 3pm on May 28.

Braddell View’s property region is 1.14 million sq ft, and the site has 102 years leasehold residency from Feb 1, 1978, which means a parity rent term of around 61 years.

The redevelopment site includes two separate land parts, one that is around 618,221 sq ft, and another that is around 524,055 sq ft, Colliers said.

The advancement in Braddell Hill is the biggest of the 18 Housing and Urban Development Company (HUDC) domains in Singapore. It has 918 private units and two business units. The private units contain 824 lofts, 78 maisonettes and 16 penthouses.

The sizes of private units at Braddell View extend between 1,453 sq ft and 3,369 sq ft (around 135 sq m and 313 sq m). Contingent upon the measure of their property, proprietors of the private units remain to get between S$2.04 million and S$4.03 million each, upon fruitful clearance of the improvement, Colliers said.

In the interim, proprietors of the business shops, which range 194 sq ft and 517 sq ft (18 sq m and 48 sq m), could get somewhere in the range of S$529,500 and S$1.2 million individually.

Tang Wei Leng, overseeing chief at Colliers International stated: “Given this is a sizeable improvement, it is probably going to see enthusiasm originating from a consortium of designers. We anticipate that invested individuals should direct broad due persistence on the site, and will do our best to accumulate as much data to enable imminent givers to evaluate the benefits of the plot, just as limit potential dangers and lower the dimension of vulnerability.

“In the coming weeks, we will connect with the experts to look for greater clearness on traffic sway think about, the plausibility of a staged redevelopment of the site, and even investigate the perhaps of selling the site as two separate plots.”

Independently, Alex Teo, director of the Braddell View aggregate deal board of trustees, stated: “Having gained the 80 percent accord to take the aggregate deal process forward is a key achievement in our en coalition deal venture. We began the marking procedure a year prior, and we knew then that it would not be a simple undertaking given the huge number of proprietors in the domain. I am delighted that proprietors have been receptive, connected with and submitted all through the whole marking procedure, cognisant of the way that the domain is maturing and needing revival.”

Under the Urban Redevelopment Authority’s Master Plan 2014, the site is zoned for private use. It has a gross plot proportion of 2.1, and will have a proposed all out gross floor territory of about 2.4 milion sq ft.

The advancement, which was finished around 1981, was the last HUDC bequest to be privatized. Its privatization in March 2017 denoted the conclusion of the administration’s privatization program for HUDC homes.

Colliers gauges that up to 2,620 new private units with a normal size of around 915 sq ft could be based on the site, subject to endorsement from the pertinent specialists.

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Singapore Stocks Watch: STI resumes Monday afternoon at 3,212.15, up 0.37% on day

Singapore Stocks Watch:

SINGAPORE stocks edged up as exchanging continued on Monday evening, with the Straits Times Index rising 0.37 percent or 11.97 indicates on the day 3,212.15 as at 1.01pm.

Gainers dwarfed failures 167 to 156, after 433.6 million securities worth S$401.4 million changed hands.

Among the most intensely exchanged by volume, ICP tumbled to S$0.008 with 26 million offers exchanged. Rex International exchanged up at S$0.084 with 22.4 million offers trading hands.

Singapore’s 2019 GDP development gauge to direct to 2.4% on outside headwinds

The Institute of Chartered Accountants in England and Wales (ICAEW) is anticipating that Singapore’s GDP development should direct to 2.4% in 2019 from 3.2% in the earlier year, against the scenery of an all the more difficult condition for fares and the assembling area.

This is as per the organization’s most recent Economic Insight: South-East Asia report, which is created by Oxford Economics, the foundation’s accomplice and monetary forecaster.

ICAEW’s anticipated 2019 GDP development figure for Singapore comes in hardly lower than the 2.5% extension expected by expert forecasters by the Monetary Authority of Singapore (MAS) in March.

The establishment is likewise expecting a backing off of monetary development over the Southeast Asian area to 4.8% this year from 5.1% in 2018 – due to slower send out development in the midst of expanded exchange protectionism, just as slower Chinese import request – before facilitating further to 4.7% in 2020.

In a public statement on Monday, ICAEW takes note of that despite the fact that Singapore’s gently expansionary Budget for 2019 leaves “space to intercede” should monetary conditions decline forcefully, its drives, for example, the Bicentennial Bonus for low-pay people are probably not going to prompt any noteworthy bob in family unit going through this year.

As indicated by the report, family unit spending is relied upon to back off from that of 2018 as higher local financing costs, just as negative riches impacts because of the fall in value costs in 2018, will decrease by and large family going through influence this year.

ICAEW additionally expects lazy private speculation and rising headwinds confronting business venture to prompt a balance in local interest this year, with corporate benefit force to relax due to hosed private and financial specialist suppositions because of exchange protectionism.

In any case, ICAEW trusts Singapore’s administration ongoing measures to help organizations and empower venture, especially in adjusting to Industry 4.0, will keep on supporting speculation exercises throughout the following year and a half to come.

Reasonably higher business development is additionally prone to help wage development of around 3.7% this year, which is like 2018, it includes.

“Looking forward, we anticipate that the dangers should the financial viewpoint of the area to be fundamentally to the drawback. A more honed log jam in Chinese monetary development activated by compounding certainty or a recharged heightening in US-China exchange strains would all influence worldwide exchange and development over the locale,” says Sian Fenner, ICAEW financial counsel and lead Asia business analyst for Oxford Economics.

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  • The kings of precious metals, gold and palladium, are both vying for world attention with major price milestones achieved on Friday from global growth fears and a Russian export ban, respectively. U.S. gold futures, as well as globally-traded bullion, moved above the key $1,300 perch after official suggestions of more downward pressure on China’s economy and weakening in U.S. employment trends and New York State manufacturing data.
  • Forget China’s growth, for now — the U.S. might be a bigger problem as New York manufacturing data showed on Friday, casting more economic worries for oil. Both U.S. West Texas Intermediate crude and U.K. Brent oil dipped slightly after the Empire State Manufacturing Index slumped to a reading of 3.70 for March, its third consecutive monthly reading below 10 and the lowest since May 2017.
  • The Trump administration is likely to open up portions of the Atlantic to oil and gas drilling despite opposition from East Coast states, a U.S. Interior Department official suggested in remarks at a recent energy industry conference, a recording of which was reviewed by Reuters. The comments come as the administration of President Donald Trump prepares to release a new five-year drilling plan proposal for federal waters that could vastly expand available acreage, part of its broader agenda to maximize U.S. oil, gas and coal production.



  • Subsidies will be granted to lure talent from outside mainland China to support development of the Greater Bay Area, a project aimed at deepening integration between Hong Kong and southern Guangdong province, the Ministry of Finance’s tax bureau said on Saturday. The subsidies will be provided in nine cities in southern China to individuals from Hong Kong, Macao, and Taiwan and other parts of the world, according to a document released by the bureau.
  • Brazil does not expect the U.S. government to announce support for its bid to join a club of the world’s advanced economies when its President Jair Bolsonaro visits Washington next week, a senior member of his economic team told Reuters on Friday. Brazil, the world’s eighth-largest economy, applied in 2017 to join the Organization for Economic Cooperation and Development (OECD), a forum of three dozen advanced economies that includes Mexico, Chile and Colombia.
  • Turns out that billionaire investor Warren Buffett doesn’t love Modern Monetary Theory either. “I’m not a fan of MMT — not at all,” the Berkshire Hathaway Inc . chief executive officer said Friday in a telephone interview, adding that the deficit spending that’s part of the theory could risk “spiraling” inflation. “We don’t need to get into danger zones, and we don’t know precisely where they are.” Buffett joins critics including Federal Reserve Chairman Jerome Powell, former U.S. Treasury Secretary Larry Summers, Blackrock Inc .


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  •  The United States aims to cut Iran’s crude exports by about 20 percent to below 1 million barrels per day (bpd) from May by requiring importing countries to reduce purchases to avoid U.S. sanctions, two sources familiar with the matter told Reuters. U.S. President Donald Trump eventually aims to halt Iranian oil exports and thereby choke off Tehran’s main source of revenue.
  • Democrats in the U.S. House of Representatives gave a cool reception to the replacement for the North American Free Trade Agreement on Wednesday as the top U.S. trade negotiator opened a campaign to win broad support for the accord in Congress. Several Democrats said a closed-door meeting between United States Trade Representative Robert Lighthizer and their caucus failed to ease their concerns about the new U.S.-Mexico-Canada Agreement’s (USMCA) provisions on labor, biologic drugs and some other issues.
  • Gold futures for April delivery were up $10.95, or 0.8%, at $1,309.05 per ounce on the Comex division of the New York Mercantile Exchange by 2:08 PM ET (18:08 GMT). It hit a near two-week peak of $1,309.60 after settling at $1,309.30, up $11.20. Spot gold, reflective of trades in physical bullion, rose by $7.37, or 0.6%, to $1,308.96 by 2:08 PM ET after a session high at $1,309.46. On Wall Street, the S&P 500 index rose almost 1%, as February producer prices indicated benign inflation that strengthened the Federal Reserve’s patient stance on future rate hikes



  • The U.S. agency in charge of federal buildings is blaming Congress for delays and a sudden change in plans for a new FBI headquarters, an issue that lawmakers are investigating as a possible conflict of interest for President Donald Trump. Before Trump was elected, the Federal Bureau of Investigation, currently based near the Trump International Hotel in central Washington, was headed for a new home in the suburbs; its crumbling headquarters, for the wrecking ball. But that all changed abruptly in 2017.
  • British finance minister Philip Hammond said on Wednesday he could free billions of pounds for extra public spending or tax cuts, as long as parliament resolves its Brexit impasse. Hammond told lawmakers he could relax his grip on the public finances if they spared Britain the shock of leaving the world’s biggest trading bloc without an agreement. “I hoped we would do that last night, but I am confident that we, as a House, will do it over the coming weeks,” he said.
  • China’s securities watchdog is tightening scrutiny over gray-market margin financing, barring brokerages from facilitating shadow lending and warning against risks of another credit-fueled bubble. The China Securities Regulatory Commission (CSRC) said on Wednesday that its subsidiary in eastern Zhejiang province last week held a meeting with local brokerages, flagging potential risks associated with illegal margin financing and banning them from doing any form of business that could facilitate such a business.


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Singapore Stocks Watch: STI resumes Wednesday evening at 3,186.18, down 0.8% on day

Singapore Stocks Watch: SINGAPORE stocks edged down as exchanging continued on Wednesday evening, with the Straits Times Index declining 0.81 percent or 26.07 indicates on the day 3,186.18 as at 1.03pm.

Failures dwarfed gainers 193 to 140, after 459.4 million securities worth S$550.5 million changed hands.

Among the most intensely exchanged by volume, KrisEnergy exchanged at S$0.055 with 21.4 million offers exchanged. Keppel Infrastructure Trust exchanged at S$0.485 with 21.2 million offers trading hands.

UOB costs first Panda bond at 3.49%

The offering has a membership rate of 2.7 occasions from resource chiefs and business bank financial specialists.

Joined Overseas Bank Limited (UOB) has declared it has valued Renminbi (RMB) bond at 3.49%, checking as its first Panda bond from Singapore and the second issued from a Southeast Asian money related foundation.

The three-year $404.4m (¥2b) offering has a membership rate of 2.7 occasions from resource supervisors and business bank financial specialists crosswise over Asia. 38% was set to China’s inland speculators and 62% to universal seaward financial specialists.

“Our support in China’s coastal obligation advertise, one of the biggest all inclusive, empowers us to develop our quality in China as the nation keeps on changing the RMB and its monetary markets,” said Wee Ee Cheong, representative executive and gathering CEO at UOB.

This Panda bond issuance from UOB is the second offering from the Group after United Overseas Bank (China’s) coastal budgetary bond issued in April 2018. The two issuances are appraised AAA by China Chengxin International Credit Rating Co., Ltd with a steady viewpoint.

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Singapore Stocks Watch: STI resumes Tuesday evening at 3,226.14, up 1.1% on day

Singapore Stocks Watch: SINGAPORE stocks a continued evening exchanging positive area on Tuesday, with the Straits Times Index rising 34.72 focuses, or 1.1 percent on the day to 3,226.14 as at 1.03pm.

Gainers dwarfed failures 217 to 128, after about 583.4 million offers worth S$488.7 million traded hands.

Among the most vigorously exchanged by volume, Rex International was up 5.6 percent, or 0.4 Singapore penny to 7.6 Singapore pennies, with 43.3 million offers exchanged.

Other dynamic stocks included Hi-P which increased 4.7 percent, or eight Singapore pennies to S$1.80, AEM Holdings which rose 4.1 percent, or five Singapore pennies to S$1.28; and City Developments Limited which was up 3.5 percent, or S$0.31 to S$9.12 each.

Singapore retail deals rise 7.6% in January

RETAIL deals in Singapore were up 7.6 percent year on year in January, recuperating from December’s 5.8 percent droop, as indicated by Tuesday’s Department of Statistics (Singstat) explanation.

January’s complete retail deals takings were about S$4.2 billion, with online retail deals making up 4.8 percent. The ascent in deals was expansive based, with engine vehicles seeing the greatest increment of 20 percent, which Singstat ascribed mostly to that month’s Singapore Motorshow occasion. Barring engine vehicles, January’s deals were up 5.3 percent year on year.

Higher interest amid January’s pre-Chinese New Year merry season likewise added to deals development of between 8 percent and 10.5 percent for clothing and footwear, medicinal merchandise and toiletries, retail establishments, general stores and hypermarkets, and sustenance retailers.

Seeing unassuming increments in development of between 0.9 percent and 5.2 percent were watches and gems, small scale shops and advantageous stores, furniture and family unit gear, and recreational products. Petroleum administration station deals development was level at 0.1 percent.

Interestingly, PC and media communications hardware deals fell 11.5 percent, due somewhat to bring down interest for cell phones. It was one of just two classes to see a year-on-year deals decline, with optical products and books likewise down 1.6 percent.

Sustenance and drink administrations were up 5.9 percent year on year at S$862 million, however this was down 2.1 percent from December. Inexpensive food outlets, nourishment cooks, and eateries saw year-on-year deals development of between 7.5 percent and 10.8 percent, however other eating spots, for example, bistros saw development of simply 1.8 percent.

On an occasionally balanced premise, retail deals edged up 0.2 percent month on month in January. Barring engine vehicles, in any case, they were down 1.5 percent from December.

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Singapore Stocks Watch: STI resumes Monday evening at 3,196.27, up 0.01% on day

Singapore Stocks Watch: SINGAPORE stocks continued exchanging level on Monday evening, with the Straits Times Index expanding 0.01 percent or 0.40 point on the day to 3,196.27 as at 1.06pm.

Washouts dwarfed gainers 178 to 132, after 469.8 million securities worth S$373 million changed hands.

Among the most vigorously exchanged by volume, Hi-P International exchanged at S$1.70 with 20.5 million offers exchanged. Keppel Infrastructure Trust exchanged at S$0.495 with 9.7 million offers trading hands

SGX daily average normal esteem hit a six-month high at $1.06b in February

There were 100 new bond postings which raised $42.87b.

The Singapore Exchange recorded a 8% MoM increment in its securities day by day normal esteem (SDAV) to $1.06b in February, hitting its half year high. Notwithstanding, it was still down 39% contrasted with the figures in February 2018.

The bourse’s all out securities showcase turnover fell 12% MoM and 42% YoY to $19.1b more than 18 exchanging days. The market turnover estimation of Exchange Traded Funds (ETFs) additionally smashed 52% MoM and 70% YoY to $103m.

For subordinates, complete volume plunged 2% MoM and rose 1% YoY to 18.2 million.

SGX noticed that there February saw 1 Catalist posting and 100 new bond postings which raised $42.87b. The all out market capitalisation estimation of the 740 recorded firms hit $970.84b as of end-February.








  • Metal traders will continue to monitor gyrations in the U.S. dollar this week after gold prices rose almost 1% on Friday as a weak U.S. employment report sent the greenback lower and clouded the outlook for the global economy. Markets will get the latest reading on U.S. retail sales on Monday, which are expected to show another decline in January after an unexpected drop at the end of 201
  • The Labor Department reported a 20,000-job increase in nonfarm payrolls last month, far fewer than the consensus forecast of 180,000. But traders were encouraged by the unemployment rate falling back below 4% and average hourly earnings accelerating by 0.4%. The U.S. dollar index that tracks the dollar against a basket of six currencies was down 0.36% at 97.314 in late trade.
  • Oil prices rose on Monday, lifted by Saudi oil minister Khalid al-Falih saying an end to OPEC-led supply cuts was unlikely before June and a report of falling U.S. drilling activity. Despite this, markets were somewhat held back after U.S. employment data raised concerns that an economic slowdown in Asia and Europe was spilling into the United States, where growth has so far still been healthy. U.S.



  • Australia’s corporate watchdog rebuked the country’s biggest banks and financial services firms on Monday for delays fixing internal systems that resulted in customers paying fees for services they had not received. The Australian Securities and Investments Commission (ASIC) said it had been supervising the four biggest banks – Commonwealth Bank of Australia, Westpac Banking Corp, Australia and New Zealand Banking Group Ltd and National Australia Bank Ltd – plus investment bank Macquarie Group Ltd and wealth manager AMP Ltd, as they reviewed the systems which led to wrongful fee charging.
  • President Donald Trump will propose in his fiscal 2020 budget on Monday that the U.S. Congress cut non-defense spending by 5 percent while boosting spending on the military, veterans’ healthcare and border security, the White House budget office said on Sunday. The Republican president’s proposal, slated for release at 11:30 a.m. (1530 GMT) on the Office of Management and Budget’s website, is expected to be the first volley in this year’s bitter funding fight with Congress, which has control over federal purse strings.
  •  The tycoon at the center of a decades-old French legal battle that has dragged politicians and business leaders in its wake goes on trial on Monday accused of fraud. Bernard Tapie, the larger-than-life businessman and one-time chairman of Olympique Marseille football club, is embroiled in a fight over a fraught 1993 corporate deal and the compensation he won from the state 15 years later. She was convicted of negligence but escaped fines or jail time.


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