Towards Financial Freedom
DBS Equity Research: Wired Daily 26 Nov 2015
ASEAN Consumer - Hopeful for a better 2016 after a dismal 2015. Advocate safer bets for a start before looking to add /switch stocks as the year progresses. SGX-listed picks - ThaiBev and Sheng Siong
We are hopeful for a better 2016 after a dismal 2015. 3Q15 earnings were still disappointing, with earnings growth cut to just 2% for 2015. As we enter 2016, we are marginally optimistic compared to 2015. We have projected an aggregate net profit growth of 13% in 2016. However, start of year could still be rocky with uncertainties and possibility of kitchen-sinking 4Q15 results. We are initially adopting a more prudent stance before taking on a more "risk-on" approach. In Singapore, we like ThaiBev (THBEV SP) and Sheng Siong (SSG SP) for their resilience, earnings visibility, and dividend yields.
In response to Marco Polo Marine's (MPM)'s announcement on initiation of contractual dispute resolution process against Semb Marine's PPL Shipyard (PPL), SMM reiterated that the jackup contract remain subsist and MPM is in repudiatory breach. SMM further elaborated that the rig is >98% completed, in its final phase of construction. The contractual delivery date is 30 Nov 2015 and it has an additional 210 days to rectify defects observed during the tests. In view thereof, MPM's purported termination is deemed wrongful with no justification, from SMM's standpoint. Hence, "PPL is of the view that the purported termination by MPM is to avoid its obligation to pay the 2nd disbursement of 10% of the contract price (US$21.43m), that has already accrued and due to PPL immediately on the execution of the contract". PPL will seek payment of the 2nd disbursement which has been deferred twice, and is payable by end of this month.
Cordlife Group is currently in discussions with various parties on opportunities relating to acquisitions, divestments and joint ventures. These opportunities are at various stages, the group said in response to an exchange query on unusual trading activity surrounding its shares.
US stocks rose in light trading on signs that tensions between Russia and Turkey may not escalate and data that show the US economy is on positive track. The latest weekly initial jobless claims dipped to 260k, lower than consensus expectations for 270k. Meanwhile, oil price pared early session loss on data that show US crude stockpiles rose less than expected.
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....
