Singapore Stock Market News

SGX - Expecting a Quiet 4QFY14

StockFanatic
Publish date: Fri, 25 Jul 2014, 12:23 PM
StockFanatic
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We expect SGX to report a mild sequential decline in 4QFY14 net profit. While we expect securities market revenue to improve slightly q-o-q, this is likely to be offset by weaker contribution from derivatives. We believe expenses would be key to its bottomline trends. We trim our FY14F-15F net profit forecasts by 3-4% but nudge our FV up to SGD7.40 (from SGD7.30) after rolling forward valuations to CY15. NEUTRAL.
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