MARKET UPDATES :
- MORE businesses were started in Singapore in the second quarter of this year than in the first three months of 2014. The Singapore Business Formation Statistics Report counted 18,689 new businesses registered here in the second quarter.
- Fitch Ratings has affirmed the Long-Term Issuer Default Ratings (IDR) of Mapletree Industrial Trust (MIT, BBB+/Stable), Parkway Life Real Estate Investment Trust (PREIT, BBB/Stable), CDL Hospitality Trust (CDL, BBB-/Stable) and Far East Hospitality Trust (FEHT, BBB-/Stable). A full list of rating actions is at the end of this rating action commentary.
- COMPANIES are paying their bills seven days faster than they were in the first quarter of 2014. According to Trade Payment Data released by the DP SME Commercial Credit Bureau, this is the first improvement for 18 months.
- DEVELOPERS’ sale of private condos plunged 68 per cent from a month ago to 482 units in June, a quiet month where only 418 units were launched.
STOCK RECOMMENDATION :
- BUY JARDINE STRATEGIC HOLDING ABOVE 35.700 TG 36.000, 36.300, 36.700 SL 35.400