MARKET UPDATES :
- SINGAPORE shares end higher on Tuesday.The Straits Times Index gained 26.32 points to 3,334.02.Some 1.23 billion shares, valued at S$949.7 million were traded. Gainers numbered 275 while losers numbered 147.
- Singapore’s sovereign wealth fund GIC is investing 10.2 billion rupees (US$165.5 million) in India’s Bandhan Financial Services, which is setting up one of the country’s two newest banks, Bandhan’s chairman said on Tuesday.The company will get a total equity investment of 16 billion rupees, including 5.8 billion rupees from existing investor IFC, Bandhan Chairman Chandra Shekhar Ghosh told Reuters.
- The guide shows that in Singapore, 59 per cent of employers increased salaries in their last review by 3 to 6 percent, while 8 per cent gave staff an increase of between 6 and 10 per cent. A further 5 per cent increased above 10 per cent.At the other end of the scale, 22 per cent gave increases of less than 3 per cent, and the final 6 per cent of employers gave no increases at all.
- Credit Suisse Group AG sued REI Agro Ltd. in Singapore claiming the Indian basmati rice producer and 16 related companies conspired to get loans for non-existent trades of the staple.REI Agro founders Sandip and Sanjay Jhunjhunwala used a web of sham rice-trading companies in Singapore and Hong Kong to support a 2012 US$115.5 million loan agreement by REI Agro’s Dubai-based Ammalay Commoditiess JLT, according to a lawsuit in the Singapore High Court.
- EARNINGS of Keppel Infrastructure Trust (KIT) for the full financial year ended Dec 31, 2014, were lower from a year ago due to lower production of NEWater, lower power tariff from plunging oil prices and higher trust expenses.Profit was 10.4 per cent lower at S$12.7 million from a year ago.
- MAPLETREE Logistics Trust on Monday reported a distribution per unit (DPU) of 1.87 Singapore cents for its third quarter ended Dec 2014. This was just a tad higher than the 1.84 cents that it paid out a year ago.This came on the back of a 2.7 per cent increase in its total amount distributable to unitholders to S$46.19 million,Gross revenue rose 6.2 per cent to S$82.92 million, helped by contribution from six properties acquired in China, Singapore, Malaysia and South Korea during this financial year, as well as from Mapletree Benoi Logistics Hub and higher revenue from its existing assets.
- Petronas plans to cut workforce by more than 10%. Petronas has total staff strength of 49,193 according to 2013 annual report. Petronas also plans to defer capital expenditures and cut operational spending in response to the 60% decline in oil prices. The deferments would reflect the change of environment in the global oil and gas industry to ensure its resilience through the low oil price period.
STOCK RECOMMENDATION :
- BUY CAPCOM TRUST ABOVE 1.840 TARGET 1.880 1.950 SL 1.790