Towards Financial Freedom
DBSV S'pore Wired Daily 3 December 2013
Today's Focus
ASEAN Strategy - Growth downgrades to persist. For Singapore, stick with OCBC and Oil & Gas - Ezion as top picks, and adding China recovery plays - Osim, Midas.
Our regional equity strategist expects growth downgrades to persist in ASEAN, affecting already weak sentiments. Malaysia upgraded on defensive stance, downgrading Indonesia; reiterate Philippines overweight. For Singapore, stick with OCBC and Oil & Gas - Ezion as top picks, and adding China recovery plays - Osim, . For Malaysia, year-end rally is expected while the Thai market awaits how politics will pan out. Indonesia is downgraded on data risks amid weak sentiments. Philippines is fast to correct on typhoon Haiyan, reiterate overweight.
Digicel Group and YSH Finance (comprising Yoma Strategic Holdings) and First Myanmar Investment Co., Ltd (FMI) announced that their reorganized consortium, Digicel Asian Holdings, has signed an agreement with Ooredoo Myanmar to develop, construct and lease telecommunications towers in the Republic of the Union of Myanmar as part of Ooredoo's commitment to deploy a world-class telecommunications network across the country. This development is in line with Yoma's aspiration to be conglomerate and we believe it will contribute positively to the company in the long haul although the accretion may not be significant. We do not expect immediate profits in its first year of operations considering start up expenses.
Sembcorp Industries commences commercial operations of its new S$154m multi-utilities centre located in the island's Banyan district. With the addition of this new facility, Sembcorp now offers companies located in Jurong Island's Banyan, Tembusu and Angsana areas a comprehensive range of energy, water and on-site logistics. These include process steam, power, industrial wastewater treatment, industrial waters and service corridor services.
Q& M makes further inroad on the Chinese dental market and enters Shandong province. It has executed a
Memorandum of Understanding with two owners of dental hospital and dental polyclinic to acquire 51% for RMB
17.85m. The entire purchase consideration will be paid in Q&M shares and the shares will have a 5 year moratorium. The owners have further given a profit guarantee for a period of 12 years amounting to RMB 36m.
Liongold Corp, together with a subsidiary of associated firm ISR Capital and Chinese firm Suzhou Power, is partnering a new private equity (PE) fund that invests in natural resources. The fund, IPR LP, hopes to achieve medium to long-term capital appreciation through direct investments in mining projects, together with related energy and power investments. Tritech Group has been awarded a S$7.8m instrumentation contract by the Land Transport Authority (LTA).
The massive construction of HDB flats will start to taper off from next year as balance is restored between demand and supply in the market, according to Minister for National Development Khaw Boon Wan. It will be done in a measured way to allow market to gradually adjust. The government will be launching two 99-year private housing sites in Geylang this month. Of the two, the one that is expected to draw more developer interest is a plot next to Aljunied MRT Station which has been triggered from the government's reserve list. The successful applicant has agreed to bid at least $95m, translating to $505.28 psf ppr, at tender for the site, which is along Geylang East Avenue 1.
China's manufacturing activity stabilised in November, outperforming market expectations of a retraction on rising
credit costs and slower restocking of inventories by companies. The official Purchasing Managers' Index (PMI) remained flat at 51.4. A separate survey by private investment bank HSBC put the PMI at 50.8, higher than the preliminary 50.4 flash figure released 10 days ago. China's economy is recovering from two quarters of slowing growth. Third-quarter data showed retail sales and investment rebounding strongly; the real estate industry was also performing well, with another survey published over the weekend pointing to prices rising by more than 10% nationally.
US stocks fell, with indices declining in the final hour of trading amid data that showed manufacturing unexpectedly climbed in November and reports on holiday retail sales. The ISM manufacturing Index rose to 57.3 (consensus 55.1) in November from 56.4 a month earlier. U.S. retailers are coming off the first spending decline on a Black Friday weekend since 2009. Purchases at stores and websites fell 2.9% to US$57.4bil in the 4 days beginning with the Nov. 28 Thanksgiving holiday, this according to a survey commissioned by the National Retail Federation.
Source: DBSV
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
