Daily Archives: March 1, 2019


Singapore stocks Watch: STI resumes Friday evening at 3,225.05, up 0.38% on day

Singapore stocks Watch: SINGAPORE stocks conquered a delicate morning open to continue exchanging Friday evening on higher ground, with the Straits Times Index heading up 0.38 percent or 12.36 indicates on the day 3,225.05 as at 1.00pm.

Gainers and failures were equitably coordinated, with 166 securities up to 164 down after 400.7 million securities worth S$473.4 million changed hands.

Among the most intensely exchanged by volume, SingTel shed 0.7 percent or S$0.02 to S$3.00 with 15.3 million offers exchanged. Genting Singapore Plc expanded 2.0 percent or S$0.02 to S$1.04 with 14.4 million offers exchanged.

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Dynamic record stocks included Capitaland, down 0.9 percent or S$0.03 to S$3.39; and Venture Corp, up 1.5 percent or S$0.27 to S$18.07.

Stocks to watch: Hyflux, Olam, Oxley, First Resources, Hong Fok

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

Hyflux: The Securities Investors Association (Singapore) or SIAS is asking the Hyflux board to consider an option rebuilding plan that could see retail perpetrator and pref investors (PnPs) recoup slightly a greater amount of their key, if senior lenders consent to surrender a portion of their offer. In a letter conveyed to the Hyflux board on Wednesday, SIAS composed that the present Hyflux conspire is “not adequate” to PnPs, who face a level recuperation rate of 10.7 percent, of which just 3 percent will be paid in real money.

Olam International: Agri and nourishment goliath Olam International whose business is presented to the caprices of climate designs and patterned harvests expects the espresso business that was part offender for its just-discharged powerless 2018 profit to stay under worry for the main portion of the year. Olam shares fell five Singapore pennies or 2.5 percent to complete at S$1.96 on Thursday.

Oxley Holdings: Oxley Holdings’ official administrator and CEO Ching Chiat Kwong is certain that the property engineer can satisfy its S$1.6 billion owing debtors due in the following three years through the closeout of its finished undertakings, neighborhood and abroad, just as a constant flow of benefit transfers. As at end-2018, the property gathering’s net equipping remained at 2.55 occasions, a critical ascent from 2.17 occasions only a half year sooner – as the organization obtained more from banks to support its securing of Singapore improvement extends just as advances to joint endeavors. The counter last exchanged at S$0.33 each on Feb 27.

First Resources: Palm oil maker First Resources said net benefit fell 49.2 percent to US$17.3 million for the final quarter finished Dec 31, 2018, from US$34.2 million per year prior. This was mostly from the impacts of more fragile palm oil costs and a net stock develop amid the period, adding to the decrease in generally speaking deals volumes contrasted and the year earlier, the organization said on Thursday. Profit per share (EPS) for the quarter came to 1.09 US pennies, down from 2.16 US pennies a year prior. Offers for the organization last exchanged at S$1.71 each on Feb 27

Hong Fok: Property engineer Hong Fok revealed a net benefit of S$188.9 million for financial 2018 finished Dec 31, a 6 percent expansion from S$178.1 million for FY2017. The engineer’s income flooded 87 percent to S$131.1 million, from S$70.0 million for FY2017, on the back of increasingly private units sold and commitments from Yotel Singapore Orchard Road. Profit per share was 27.26 Singapore pennies, up from 25.69 Singapore pennies. Hong Fok shares shut level at S$0.70 on Thursday

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  • Oil prices rose on Friday as markets tightened amid output cuts by producer club OPEC, but surging U.S. supply and a global economic slowdown prevented crude from climbing further. U.S. West Texas Intermediate (WTI) crude oil futures were at $57.45 per barrel at 0116 GMT, up 23 cents, or 0.4 percent, from their last settlement. International Brent crude futures were at $66.55 per barrel, up 24 cents, or 0.4 percent.
  • The United States on Thursday laid out objectives for a trade deal with the United Kingdom that would ensure fair and balanced trade, cut tariff and non-tariff barriers for U.S. industrial and agricultural goods and reduce regulatory differences. The negotiating objectives, required by Congress under the “fast-track trade negotiating authority law, will seek to boost trade between the countries by eliminating tariff and non-tariff barriers,” the U.S. Trade Representative’s office said.
  • India’s diesel consumption may rise to a record this year on increasing infrastructure spending by the current government as it tries to hold off challengers in general elections that will be held over April and May. Surging diesel consumption in India, the world’s third-largest oil user, underscores the country’s importance as a driver of global oil demand. Amid increasing concerns that crude demand growth may slip in 2019 because of slowing economic growth, India’s burgeoning fuel consumption may help underpin oil and fuel prices.



  • A rise in productivity last year gives more room for wages to grow without the risk of higher inflation, Federal Reserve Chairman Jerome Powell said on Thursday, offering another reason why the U.S. central bank can hold off on further rate increases. “Signs of upward pressure on inflation appear muted despite the strong labor market,” with unemployment at 4 percent and wage increases picking up of late, Powell said in remarks prepared for delivery at the Citizens Budget Commission in New York.
  • China on Friday said it regretted a lack of support from experts after the United States won a World Trade Organization (WTO) ruling on China’s wheat and rice subsidies. The Ministry of Commerce said in a statement that government support for the agriculture sector was allowed under WTO rules and was a common practice among countries. China will continue to promote development of the sector in line with WTO rules and safeguard the stability of the multi-lateral trade system, it added.
  • Faced with a serious slowdown in euro zone economic growth, the European Central Bank is set to delay hiking interest rates from record lows until next year and will soon re-launch its offer of long-term loans to banks, a Reuters poll found. But over 60 percent of economists said there would be no change to rate guidance at its March 7 policy meeting or any official announcement yet of long-term loans.


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