MARKET UPDATES :
- ST Engineering is the only company in Singapore to make it to Forbes’ list of “The World’s Most Innovative Companies”.The Singapore-listed defence-related group is ranked 87 out of 100 companies globally, and boasts of an Innovation Premium (IP) of 33.6 per cent.
- EOC Ltd, an Oslo-listed offshore support services firm, has started premarketing a share offering of up to US$250 million for a secondary listing in Singapore, IFR reported on Thursday, citing banking sources.EOC is an associate company of Singapore-listed Ezra Holdings Ltd, which has planned to inject its offshore support services division into EOC.
- Singapore’s core inflation rate in July probably rose to its highest in almost two years, a Reuters poll showed on Thursday, reflecting wage cost pressures from a tight labour market.
- DEPARTMENT store operator Parkson Retail Asia reported a near 36 per cent drop in net profit year on year to S$3.17 million for the fourth quarter ended June 30.Revenue slid four per cent to S$99.18 million due to negative same store sales (SSS) growth in Malaysia and Vietnam, as well as the weaker Indonesian rupiah.
STOCK RECOMMENDATION :
- BUY CITY DEVELOPMENT LTD ABOVE 10.170 TG 10.270, 10.390, 10.440 SL 10.050