Towards Financial Freedom
DBS Equity Research: Wired Daily 7 Jan 2015
STI - Near term downside limited; support at 3250
US stocks fell as the drop in oil price and uncertainty about Greece ahead of its Jan 25th election continued to spook investors. Brent fell to USD51.1pbl while the WTI finished at USD48pbl. Stocks are likely to start the session modestly lower but near term downside looks limited as the STI is now closer to its 13x (-0.5SD) 12-mth forward PE level at 3250 that is view as a firm support. Bank stocks, which dragged the STI lower in recent sessions, should see limited downside in the immediate term and find support. But property stocks could underperform if the latest rise in SIBOR continues.
Global Logistic Propertieshas signed new agreements totalling 84,000 sqm (904,000 sq ft) with six leading third-party logistics (3PL) providers in China. The customers are using the facilities to support distribution needs for e-commerce and food-related products.
UOB sued a unit of Indonesia's Lippo Group and seven individuals for S$181m, claiming they conspired to get inflated home loans, Straits Times cites court documents. The loans were used to purchase 38 luxury condominium units at Marina Collection in Sentosa developed by Lippo Marina Collection. The borrowers for 37 units have already defaulted. Each apartment unit costs average of S$6m in the 124-unit residential project when Lippo Marina started selling them in 2007. Prices have fallen since the government introduced property cooling measures in 2009.
Singapore Shipping Corporationhas entered into a US$16.5m seven-year term loan financing facility with a leading Japanese financial institution. The Term Loan will be used to finance the acquisition of a Pure Car Truck Carrier (PCTC) vessel. Upon its delivery in January 2015, the vessel will be chartered to a blue chip shipping major.
Auric Pacific Group'swholly owned subsidiary, APG Foods, has entered into a joint venture (JV) in Indonesia to expand the company's manufacturing and distribution activities there. APG Foods partnered PT Mei Sastromihardjo Konsultan Indonesia to incorporate a new company, PT Auric Pacific Marketing Indonesia (PT APMI). The JV will distribute and sell food & beverage (F&B) products in Indonesia.
Xpress Holdings proposes to place 1.1bn shares at an issue price of S$0.007 per placement share. It also proposed to issue 2.2bn unlisted and detachable free warrants, each warrant carrying the right to subscribe for one new ordinary share at an exercise price of S$0.007 per share. The proposed placement is to enable the Company to augment its cash flow and improve working capital for expansion purposes.
Sakae Holdings diversifies into corporate advisory services with appointment from Q&M Dental Group. Sakae Corporate Advisory has been appointed to serve as Corporate Adviser for Q&M Dental Group for two years. China New Town Development has signed a MOU with Industrial and Commercial Bank of China Shanghai Branch to establish a close long-term financing partnership. ICBC Shanghai branch intends to provide financing support to the company with aggregate amount up to RMB10bn in the cooperative period.
Share buybacks reached a total of S$262.2m on the Singapore Exchange (SGX) in December. This, according to separate data by Asia Insider, made it the most active month for share repurchases in 2014. Companies which spent the most money buying back shares include Genting Singapore, Pacific Century Regional Developments, OCBC and SATS, according to SGX data.
China's services sector grew at its fastest pace in three months in December as new orders remained strong, a private survey showed, an encouraging sign of strength even as manufacturing activity slows and the property market softens. The robustness in the services sector contrasted sharply with surveys last week which showed Chinese factories were struggling at the end of 2014. The HSBC/Markit Services Purchasing Managers' Index (PMI) picked up to 53.4 last month from November's 53.0. A sub-index measuring new business cooled slightly to 53.9 in December from a 2-1/2 years high of 54.2 in November, but remained well in expansion territory.
Source: DBS
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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....
