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Today’s SGX Hot Stock List

Today_s SGX Hot Stock ListSino-Singapore Guangzhou Knowledge City (SSGKC), a joint initiative between the Intellectual Property Office of Singapore (IPOS) and the State Intellectual Property Office of China (SIPO), has passed two project development milestones in Guangzhou.

In a Friday release, SSGKC says it yesterday celebrated the two milestones with the groundbreaking of the first neighbourhood centre (NC1) at the Start-Up Area, and, on the same day, held the initiation ceremony of the Ascendas-Singbridge International Launch Pad (ASB ILP) at Ascendas OneHub GKC.

Occupying 18,000 sq m and comprising a gross floor area (GFA) of 47,975 sq m, NC1 is the first of five neighbourhood centres which SSGKC intends to construct at its start-up area. Its construction is expected to be completed in end 2018.

Each of the five neighbourhood centres planned for SSGKC will serve approximately 6,000 to 8,000 households or 20,000 to 30,000 residents who live within a 1km radius from each centre.

SSGKC says that upon the completion of NC1, which is expected to be operational in 2019, residents will enjoy “easy and convenient access to comprehensive suite of commercial services, one-stop government services, and integrated community services.

Total investment for the centre is estimated to be RMB230 million ($46.8 million).On the other hand, ASB ILP is a platform that is designed to foster innovation, facilitate collaboration and business-to-business exchanges, which SSGKC says marks another key milestone in the its own development in progressing towards becoming a “model and catalyst for Guangdong’s innovation drive and economic transformation”.

According to SSGKC, the ASB ILP will start by focusing on attracting companies in the sectors of eServices, eMobility, eHealth and eNergy Management – in addition to seeding a cluster of start-up and growth companies within Ascendas OneHub GKC’s community to “catalyse economic growth and innovative ventures” in Guangzhou.

As the city of Guangzhou continues on its economic transformation, SSGKC, as a vibrant hub that appeals to global talent in the knowledge economy, will serve as a key enabler that facilitates the growth of new and innovative industries. This will continue to put the city on the world map as it drives the wheels of modernisation in China,” comments Nina Yang, Ascendas-Singbridge’s CEO for sustainable urban development.

Guangzhou and Singapore are both strategic gateways along the maritime silk route outlined in China’s ‘One Belt, One Road’ initiative. With SSGKC’s status as the first and only platform to implement the proposed Comprehensive Intellectual Property Rights Reform

Singapore Hot Stock List:
Global Logistic
YZJ Shipbldg SGD
CapitaLand
Spackman

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Posted by on March 24, 2017 in Uncategorized

 

Today’s SGX Hot Stock List

Today_s SGX Hot Stock List

The trustee managers of CapitaLand Commercial Trust (CCT) and CapitaLand Mall Trust (CMT) has established a US$2 billion ($2.8 billion) Euro-medium term note programme for RCS Trust.

RCS Trust is an unlisted special purpose sub-trust which is 60% owned by CCT and 40% owned by CMT.RCS Trust owns Raffles City Singapore, an integrated development comprising Raffles City Tower, Raffles City Shopping Centre, two hotels and a convention centre.

Under the programme, the issuer may issue notes in series or tranches in Euro, US dollars, Singapore dollars and any other currency.

In a late filing on Wednesday night, the trustee managers say the proceeds from the issue of the notes will be used to refinance the existing borrowings of RCS Trust and its subsidiaries, to finance or refinance any asset enhancement works or capital expenditure of the group.

The establishment of this EMTN programme will also increase the financial flexibility of RCS Trust by diversifying its sources of funding.Units of CCT and CMT closed at $1.52 and $1.94 respectively on Wednesday before the announcement.

Singapore Hot Stock List:
DBS
Genting Sing
Ezion
OCBC Bank
Triyards

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Posted by on March 23, 2017 in Uncategorized

 

Today’s SGX Hot Stock List

Today_s SGX Hot Stock ListTIH, the publicly listed private equity fund, says ongoing discussions involving a change of control of the company could be a reason for the unusual trading activity of its shares on Tuesday.

Another explanation could be recent strong performance of the share price of OUE property group which TIH says is closely correlated to its own share price.

The remarks were made in response to a regulatory query by the Singapore Exchange to the company at 4.19pm during Monday’s session which saw the stock close the day 10 cents or 16.8% higher at 69.5 cents on 540,200 shares traded.

However, TIH warns that there is no assurance that the change of control talks will result in any transaction and that the transaction, if entered into, will likely be lower than Monday’s closing price.

As for the correlation with OUE’s share price, TIH says shares of the property group forms a significant portion of its investment portfolio.

When calculated, the share prices of the company and OUE Limited have a correlation factor of 0.843 based on the last price of the company and OUE Limited in the last 5 years, says TIH.

In addition, TIH added that the investment in OUE as a percentage of its investment portfolio has grown over time, strengthening and enhancing the correlation.

The correlation between the share prices of OUE and the company might offer a possible explanation for the trading, as the company expects that an increase in the share price of OUE would contribute significantly to the value of our shares, it added.

Last month, OUE launched a cash offer for International Healthway Corporation at 10.6 cents per share. The offer is to purchase a further 593.5 million shares the company, representing 35.77% of the share capital of IHC.

Singapore Hot Stock List:
SingPost
Noble
Ascott Reit
DBS
CapitaLand

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Posted by on March 22, 2017 in Uncategorized

 

Today’s SGX Hot Stock List

Today_s SGX Hot Stock ListUSP Group has failed to repay Precious Streams Holdings (PSHL) the 4.9 million of consideration shares by the deadline of March 20, 2017, the first anniversary of the date of loaned shares from PSHL.

PSHL is a controlling shareholder of USP, while Weng Huixin, the sole shareholder of PSHL, is a non-executive director of USP.

In a Tuesday filing before the market opened, the oil blending firm says it has yet to receive the regulatory approvals and has written to PSHL to request for an extension of time on the issuance of the repayment shares, but has yet to receive consent at the time of writing.

The company says it will inform its shareholders of the outcome of the extension in due course.USP Group in March 2016 completed its proposed acquisition of wholesale and trading group Supratechnic from PSHL.

As part of the consideration, USP entered into a share lending agreement with PSHL to borrow up to 49 million ordinary shares in the capital of PSHL, which was to be delivered by USP to PSHL in return after a year and subsequently adjusted to 4.9 million post-consolidation shares.

USP on Feb 21 this year received a notice of re-delivery, dated Feb 15, requesting the return of the loaned shares in accordance with the share lending agreement.

In a public filing dated Feb 23, USP had said it intended to facilitate the repayment of the loaned shares by issuing 4.9 million repayment shares such that upon completion of the repayment, PSHL would have a 22.52% interest in USP.Shares of USP closed flat at 14 cents on Monday.

Singapore Hot Stock List:
GSS Energy
Jumbo
SPH
CapitaLand

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Posted by on March 21, 2017 in Uncategorized

 

Today’s SGX Hot Stock List

Today_s SGX Hot Stock ListUOB KayHian says it is keeping to its conservative 2017 earnings forecast for Singapore’s banking sector, which is 6% below consensus estimates for DBS and 7% below the consensus estimate for OCBC.

This comes after factoring the banks’ exposure to offshore marine group Ezra Holdings, post the announcement of its filing for US Chapter 11 bankruptcy with the US bankruptcy court in the Southern District of New York on Saturday.

Based on the recent filing, DBS holds the highest amount of total exposure at US$328 million ($459 million), followed by OCBC at US$279 million. UOB Bank is the least exposed to Ezra with a total exposure of US$33 million.

Nonetheless, all three banks’ exposures are slightly lower than what the research house has expected, notes analyst Jonathan Koh in a Monday report.

The restructuring imposed on Ezra over the past two years could have already withered down the banks’ exposures. We have previously expected DBS’ exposure at $500-600 million and for OCBC and UOB at $250-350 million, he explains.

Koh believes this is because DBS has already recognised Ezra as a non-performing loan (NPL) in 3Q16, such that the bank would have had the opportunity to set aside adequate provisions during the last two quarters of FY16.

He adds that the bank’s proportion of unsecured exposure to Ezra, however, was still 86% higher than expected at US$281 million of unsecured claims, while DBS’ management has guided for total provisions of $1 billion for 2017.

While Ezra could be rehabilitated and restructured, banks are likely to have assumed the worst when determining the appropriate level of provisions. We continue to expect provisions to be elevated in 1H17. However, provisions could ease slightly in 2H17 as most of the large and vulnerable exposures to the Oil & Gas (O&G) sector have already been recognized as NPLs, says Koh.

The research house is remaining overweight on Singapore’s banking sector.Ezra requested for a trading suspension this morning.

Singapore Hot Stock List:
GSS Energy
StarHub
SPH
Ascott Reit

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Posted by on March 20, 2017 in Uncategorized

 

Today’s SGX Hot Stock List

Today_s SGX Hot Stock ListSingapore Cathay Pacific Airways Ltd. set a target to save 30% in employee costs at its Hong Kong head office as part of the biggest revamp in two decades, amid mounting competition that caused the carrier to post its first annual loss in eight years.

The savings will come from changes to middle to senior management that will be announced by June, Asia’s biggest international carrier said in an emailed statement Friday. A transition to the new structure will occur over the summer, Cathay said.

“It is clear that there is a need for an organizational structure that will allow the Cathay Pacific Group to succeed,” the airline said. “We need a leaner, simpler structure that is driven by real insights into our customers and their needs, one that will allow us to respond quickly to change.”

The statement sheds more light on a “critical review” Cathay announced five months ago. The airline, which previously said changes would “start at the top” and involve eliminating some positions, this week reported its first full-year loss since 2008 and scrapped a dividend payout amid rising competition from Chinese rivals and budget carriers.It’s a wonderful opportunity for them to look at what is happening now, not just the numbers but look at the structural issues and make a clean break from the old days,” Shukor Yusof, founder of Endau Analytics, an aviation consulting firm in Malaysia, said by phone.

It’s a wonderful opportunity for them to look at what is happening now, not just the numbers but look at the structural issues and make a clean break from the old days,” Shukor Yusof, founder of Endau Analytics, an aviation consulting firm in Malaysia, said by phone.

This year is going to be the threshold for them, and if they don’t do anything by the end of this year, they’re going find themselves a lot deeper in trouble.

Shares of Cathay rose 1.4% to HK$11.28 as of 10:47 a.m. in Hong Kong, narrowing its loss in the past 12 months to 18%. The city’s Hang Seng Index has gained 19% over the same period.The Hong Kong Economic Times reported on the plan earlier.

Cathay, which expects the operating environment in 2017 to remain challenging, has been discounting its premium offerings in a bid to fill seats as it competes against airlines such as China Eastern Airlines Corp. Swire Group is the parent of Cathay, while Air China Ltd. holds almost 30%.

The Hong Kong carrier recorded a net loss of HK$575mil (US$74mil) for 2016, it said March 15. Losses from fuel hedging totaled HK$8.46bil, and the airline said it expects further such losses in 2017 though the amount should be smaller.

Cathay Pacific Group employed more than 33,700 people worldwide, including about 23,400 for the main airline, according to the interim report for the half year ended June 2016.

Increases in staff expenses are harder for Cathay to contain because of unions’ involvement, said Will Horton, an analyst at CAPA Centre for Aviation in Hong Kong. Staff costs saw increases due to wage growth at unions for frontline staff. That is a trickier cost element to control,” Horton said in an email.

Starting the 30% figure seems to be a clear message Cathay’s restructuring starts at the top and all employees are in this together if they are to secure Cathay’s future. That means pilots then need to come to the table, too.

Singapore Hot Stock List:
SingPost
Noble
Ascott Reit
CapitaLand

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Posted by on March 17, 2017 in Uncategorized

 

Today’s SGX Hot Stock List

Today_s SGX Hot Stock List

OCBC is maintaining its neutral rating on the hospitality sector, advising investors to buy into the sector on dips.The rating comes on the back of challenging operational outlook for FY17 with the prospect of revenue stabilization FY18.

In FY16, industrywide average occupancy rates (AOR), average room rates (ARR) and revenue per available room (RevPAR) fell 0.9 ppt, 3.6% and 4.6% y-o-y respectively, according to the Singapore Tourism Board.

This compares to the 5.3% decline in RevPAR for the whole of 2015.Looking at FY16 RevPAR trends by segment, the luxury segment looks most resilient with its 1.3% drop while economy-tier hotels performed poorest with a 5.4% drop.

Last year also saw a 4.3% increase in hotel room supply, 2.2% increase in visitor days and 2.0% rise in Singapore GDP though.Looking ahead, OCBC expects leisure demand to show mild to no growth, with STB forecasting a 0% to 2% increase in tourist arrivals and a 1% to 4% increase in tourism receipts.

Corporate demand is also expected to remain soft as MNCs adopt a wait-and-see approach when it comes to long-term expat hiring.

For FY17, with hotel rooms expected to grow 5.9% and tepid economic growth outlook, RevPARs are expected to continue their decline, especially for hotels that rely on corporate demand.

In addition, with FY17 being an odd-numbered year, OCBC expects the MICE events calendar to be less packed for corporates.However, RevPARs are expected to improve in FY18 given better supply-demand dynamics.

Within the hospitality sub-sector in the REITs space, our top pick is OUE Hospitality Trust with 75 cents fair value, says OCBC, “as we expect it to be buffered by inorganic contributions from its recent acquisition.Units of OUE-HT are trading at 68 cents.

Singapore Hot Stock List:
Alliance Mineral
YZJ Shipbldg SGD
Genting Sing
SingTel

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Posted by on March 16, 2017 in Uncategorized