STI to breach 3,000 in H1 2010, say market watchers
Singapore’s Straits Times Index (STI) managed to end the year higher by 60 percent, despite weak response in the first three months, with various sectors being lifted by stimulus measures and pent-up liquidity from market players waiting to enter the market.Terence Wong, senior vice...
Continue Reading • 30 Dec 2009
Market ignores CapitaLand, SIA losses
Even though ‘big hitters’ such as CapitaLand and Singapore Airlines posted quarterly losses and warned of difficult days in the future, the Strait Times Index (STI) romped to 2,636 points high for over ten months.Yesterday, the second biggest airline in the world by market...
Continue Reading • 29 Dec 2009
Mark Vaile joins Stamford Land
Mark Vaile, the transport minister and ex-deputy prime minister of Australian, was appointed as a new independent director by the locally listed Stamford Land Corporation (SLC).Yesterday, Mr Vaile, who is living in Sydney, entered the board of Singapore company. Amongst many other directorships,...
Continue Reading • 29 Dec 2009
Co-investment plan of Temasek makes a buzz
Analysts and bankers said yesterday that the plan of Temasek Holdings to raise capital from various retail investors for future co-investments could take several forms. However, regardless of the plan’s final shape, the investment firm in Singapore will probably have to further invite...
Continue Reading • 29 Dec 2009
CK Tang’s buyout probably to succeed
The shareholder’s responsible for charging CK Tang for their buyout proposal is now getting ready for defeat in a much-anticipated general meeting today.The numbers are now stacked against shareholder Mr Alan Goei, as well as other minor investors, despite the emotional and hard-fought...
Continue Reading • 29 Dec 2009
Brokers' Take
Venture Corp (VMS) will report its second quarter result in August 7. After experiencing a very difficult first quarter, VMS is expected to give a positive output in its revenue during the second quarter of 2009 and bottomline, although it was a usual slower quarter.OCBC Investment Research notes...
Continue Reading • 29 Dec 2009
Analysts claim upgrades may boost stocks
JPMorgan analysts claimed yesterday that 'significant' upgrades are likely to sustain stocks to earn forecast for the following weeks, as asset values and property prices recover, encouraging firms to take minor write-downs on their assets.Christopher Gee, head of JPMorgan's Singapore research...
Continue Reading • 29 Dec 2009
NTUC Income sued by a couple over reverse mortgage transaction
A couple file a suit against NTUC Income on a reverse mortgage transaction in which their property was dealt in the middle of falling prices in the property sector.In 2006, Colleen Ng, who is in her late 50s and his husband Derek Chua, who is in his 70s, declare that they lost their matrimonial...
Continue Reading • 29 Dec 2009
NTUC have been reasonable in reverse mortgage case
NTUC Income expresses its empathy with Madam Colleen Ng and Mr. Derek Chua, but the company believes its action in assisting the two is ‘more than reasonable’.Jeffrey Lee, chief financial officer of Income, said that before the couple signed the deal, they were advised by lawyers...
Continue Reading • 29 Dec 2009
Insurer charged for reverse mortgage
Reverse mortgages scheme existed with a great deal to aid retirees to unlock the cash value of their residences for more than a decade, but now, it will be the main focus of an impending court case.Derek Chua and his wife Colleen Ng charged a legal case against their insurer NTUC Income after...
Continue Reading • 29 Dec 2009
HSBC survey: Expats prosper more in Singapore
An HSBC survey finds out that in spite of high cost of living for expats in Singapore and the cutbacks for luxurious lifestyle due to global recession, most of them still prefer to hold back and stay put.The Expat Economics Survey of HSBC is carried out last February until April of this year. It...
Continue Reading • 29 Dec 2009
GuocoLand's Ascot Park’s Phase 1 sold
GuocoLand's Ascot Park’s Phase 1 in Nanjing, China was fully sold, as stated by the group the previous day.The first phase of the project, which comprises 594 units, consisting of 2- and 3-room units with a variety of sizes that range from 87 to 130 sq. m., is sold for an average price of...
Continue Reading • 29 Dec 2009
CapitaLand injects $333.1 million to Australand
CapitaLand will be injecting A$281.6 million (approximately $333.1 million) into its Australian unit by absorbing its full entitlement in Australand's rights issue worth A$475 million.Australand, which is based in Sydney, Australia, posted a A$268.8 million net loss for H1 2009 yesterday. It,...
Continue Reading • 29 Dec 2009
Biosensors record weak Q1 amid licensing revenue decline
Biosensors International Group posted a weak first-quarter net income of US$4.2 million, way under the US$16.5 million over the same period a year ago. This was due mainly to the absence of a lump sum licensing payment.But the group has anticipated a yearly revenue of US$90-100 million, mainly...
Continue Reading • 29 Dec 2009
Middleware market hit by financial crisis
The application deployment software (ADS) – more popularly known by its cognomen “middleware” – market of Singapore is likely to drop by 5.8 percent this year because of the economic downturn, according to analysts.According to Adren Lim, an Asia-Pacific market analyst at...
Continue Reading • 29 Dec 2009
Information hazards in Stock Market
Global stock markets have rallied significantly during the first half of the year, recovering from huge losses since last year’s financial crisis. A significant example of this is the Singapore stock market, which surged 38.7 percent on its market capitalisation to $545 billion at the end...
Continue Reading • 29 Dec 2009
Focus on CapitaLand in residential market resurgence
The residential market resurgence had been in the headlines lately, developing the interest for property counters.For various traders, a way to put huge bets on property market that is currently reviving is loading up on covered warrants that are issued on big developers.Many have their focus on...
Continue Reading • 29 Dec 2009
Flat trading for three straight weeks
Stock Market activities are very low for three straight weeks, with only three firms with four disposals versus nine companies with 14 purchases from July 20 to 24, based on the fillings on Singapore Exchange. This figure is consistent with two firms with three disposals and 12 companies with 25...
Continue Reading • 29 Dec 2009
Pricing in V-shaped recovery in earnings
Buoyant Asian stock markets have experienced an exhilarating ride in the past two weeks, and it is nothing short of outstanding.Prices are restored to levels before the collapse of Lehman Brothers last September, as investors load up on blue chip stocks, worrying of missing what may result to a...
Continue Reading • 29 Dec 2009
Keppel Corp bags award for safety
In spite of a hectic 2008, Keppel Corporation's offshore and marine (O&M) section observed utmost safety standards earning it a an award during the Annual Workplace Safety and Health (WSH) Awards that was held yesterday by the Ministry of Manpower and the WSH Council.“Since our WSH...
Continue Reading • 28 Dec 2009