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Monthly Archives: March 2017

SGX signs MOU with Crow do and PwC’s Venture Hub to deepen support for start-ups and early stage SMEs

SGX signs MOU with Crowdo and PwC's Venture Hub to deepen support for start-ups and early stage SMEsSingapore Exchange today signed two MoUs separately with Crowdonomic Media (Crow do) and PwC’s Venture Hub.This is part of its drive towards supporting and facilitating capital access for the start-up and early stage Small and Medium Enterprises (SMEs) communities.

Crow do is a regional peer-to-peer lending and equity crowdfunding platform with operations in Singapore, Malaysia, and Indonesia.

It has a full Securities Crowdfunding Licence from the Monetary Authority of Singapore, making it the first licensed P2P lending platform in ASEAN. As at end March, Crow do has financed a total of 2,000 projects.

PwC’s Venture Hub is a unit within PwC that aims to provide a one-stop-shop approach to providing solutions and services to motivated entrepreneurs, investors, corporate and accelerators within the venture ecosystem, helping them to accelerate their growth and expand into their key markets.

Areas of collaboration outlined by the MOU between SGX and Crow do include raising awareness among the SMEs and the investing community about the various opportunities and channels available to raise capital in Singapore; information sharing to create efficient access to capital for SMEs, and mutually developing guidelines for the cross-referral of potential clients.

As part of the MOU signed between SGX and PwC’s Venture Hub, areas of collaboration include jointly promoting Singapore as an attractive ecosystem for start-ups, fast-growing innovative companies and the investing community; arranging regular dialogues to further develop thought leadership within the start-up community; and raising awareness about the various opportunities and channels to grow in the Asia-Pacific region, using Singapore as a hub.

Mohamed Nasser Ismail, Head of Equity Capital Market (SME) and Head of Capital Market Development, SGX said, “As a market operator, we believe our established infrastructure and network can support and improve access to capital for early-stage companies. We have been involved in the start-up and early stage SMEs space starting from our partnership with CapBridge, as well as the provision of depository services for FundedHere’s proprietary bonds platform. “

Moving forward, we will continue to work with relevant like-minded stakeholders to facilitate better access to expertise and growth capital for these early stage companies, he added.

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SERRANO
IEV
NOBLE

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Posted by on March 31, 2017 in Uncategorized

 

Wilmar put on Hold by DBS on possible damage by Debbie

Wilmar put on Hold by DBS on possible damage by DebbieSINGAPORE: DBS has put Wilmar International on “hold” after the group’s sugar operations in Queensland, Australia, were hit by tropical cyclone Debbie.

According to a canegrowers.com.au media release on Wednesday, Debbie has damaged sugarcane crops in the Northeast state and sugarcane growers are assessing the damage.

Hundreds of hectares of sugarcane have reportedly been flattened with Mackay and Proserpine districts being the worst affected areas.

Canegrowers CEO said that some of the canes would have been uprooted and some underwater, and that the full extent of the damage to farms and crops would not be clear for a number of days.

We understand the Mackay and Proserpine regions produced 8.5 million metric tonnes of sugarcane, out of a statewide harvest of 35 million metric tonnes last year, says analyst Ben Santoso in a Thursday flash note, “The yields will consequently be affected for the 2017 harvest, which is due to start in less than three months.

According to Wilmar Sugar Australia’s website, the majority of the group’s mills are located within cyclone Debbie’s path. Hence, we expect a drop in Wilmar’s sugar production in FY17F.Wilmar shares are down 2 cents at $3.56. DBS has a price target of $3.90.

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JADASON
ANCHOR RESOURCES
CHASEN

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Posted by on March 30, 2017 in Uncategorized

 

Today’s SGX Hot Stock List

Today_s SGX Hot Stock ListRHB Research is initiating coverage on Avi-Tech Electronics, a total solutions provider for burn-in, burn-in board manufacturing and printed circuit board assembly (PCBA), at “buy” with a target price of 52 cents.

In a Wednesday report, analyst Jarick Seet opines that the group has now successfully recovered from what he calls an M&A mishap, and is now trading at undemanding valuations with FY18F ex-cash P/E of only of 4.4x.

In his view, Avi-Tech is currently in a “prime position to ride on the world’s march towards smart cities and digitalisation” after having divested its loss-making US business – in addition to being on track to record stable y-o-y net profit after tax (NPAT) growth of an estimated 10-15% in FY17-18F.

Avi-Tech Electronics’ (Avitech) burn-in services segment is well positioned to benefit from the rising sophistication of vehicles, and ultimately the advent of driverless vehicles, in our view. With other disruptive technologies in the Internet of things (IoT) era, and the march towards cloud businesses and smart cities, we believe another wave of demand for semiconductor burn-in and other related services is coming, which would be a further boost to the group, says Seet.

Accretive acquisitions made possible from the group’s over-$31 million war chest for M&As would propel the group in enhancing its NPAT drastically with a combination of debt and cash financing, he adds, although “substandard” M&A acquisitions would conversely present a key risk to this view.

The analyst also notes Avi-Tech’s track record of paying out at least 50% of its NPAT over the past few years, with management indicating it is likely to maintain the ratio going forward.

With the positive outlook coupled with a strong cash balance, we believe that there may be a potential special dividend in FY17 to reward shareholders – this would likely boost FY17F yield to c.6.5-10%,” he concludes.As at 10.31, shares of Avi-Tech are trading 5% higher at 42 cents.

Singapore Hot Stock List:
BALCKGOLDNATURAL
GSS ENERGY
ISR CAPITAL

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Posted by on March 29, 2017 in Uncategorized

 

Today’s SGX Hot Stock List

Today_s SGX Hot Stock List

CIMB is upgrading Singapore Exchange to “add” with a target price of $8.09 after reviewing the initiatives CEO Loh Boon Chye have implemented 20 months after taking the helm at Singapore Exchange.

We see improved market liquidity, better retail participation, healthier pipeline of IPOs, better cost management and a more targeted business focus, says analyst Jessalyn Chen in a Monday report.

“Larger M&As could be on the cards. Acquiring a market data or index business could provide the next leg up for earnings amid unpredictable stock market volumes,” adds Chen who says the most tangible changes implemented by Loh were cost-efficiency measures.

For FY17, SGX lowered its cost guidance to $405-415 million from $420-430 million previously, thanks to group restructuring, paced out hiring, cutback on discretionary spending and better external vendor management.

Loh has also tried to improve access to retail participants and boost liquidity. Starting May, SGX will stipulate a minimum 5% allocation of IPO offer size to retail investors, or $50 million, whichever is lower.

SGX’s sectorial approach to attracting listings is also paying off, with a healthy pipeline of new listings in 2017 expected to come from the consumer, real estate, infrastructure and technology sectors that SGX has worked hard to build a niche in.

In 8MFY17, SGX clinched 11 new IPOs, more than double the five new listings in FY16.SGX is also considering allowing for dual-class shares, which could attract listings from technology firms that would otherwise have gone to competing exchanges.

With a war chest of $395 million and room to gear up/raise funds, we think SGX could look for large M&As, says Chen.Areas of consideration include fixed income, foreign exchange, market data and indices.

We think acquisitions in the latter two categories would provide more meaningful earnings uplift and diversification. Among the leading index businesses, only the MSCI is not currently owned by an exchange or recently acquired.Shares of SGX are up 5 cents at $7.61.

Singapore Hot Stock List:
BLACKGOLDNATURAL
ALLIANCE MINERAL
NOBLE
MERCURIUS

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Posted by on March 28, 2017 in Uncategorized

 

SingPost put on hold in anticipation of new CEO

SingPost put on hold in anticipation of new CEOMaybank Kim Eng Research is maintaining its “hold” call on Singapore Post (SingPost) at an unchanged target price of $1.34 given major decisions within the group are likely to be put on hold until new CEO, Paul Coutts officially joins in June.

Maybank recently held its Invest ASEAN-Singapore Conference, where SingPost was hosted and discussed its future plans as well as current relationship and potential collaborations with its China’s Alibaba Group.

In a Sunday report, Maybank analyst John Cheong recalls how SingPost says it intends to offer a more “extensive hybrid solution” to its clients that will enable selection between postal or commercial services across different markets.

Management are also mindful of rising competition from postal players in neighboring countries and a tendency by customers to rely on services of lower costs countries. A good example is the recent plan of Alibaba to set up its regional e-commerce hub in Malaysia, says Cheong.

In Cheong’s view, SingPost’s relationship with Alibaba remains positive as well, given plans for more collaboration between the two parties after the latter’s recent capital injection.

The analyst is also is positive on the outlook SingPost’s loss-making US e-commerce business Trade Global under the charge of its new CEO, Paul Demirdjian, whom he says has a good track record in building up Jagged Peak and running an asset-light business model.

Possible improvements for Trade Global include more automation to reduce reliance on labor and charging discriminatory pricing to customers based on seasonality and volume. The amount of asset impairment will likely be determined in 4Q17 results, he concludes.As at 10.54am, shares of SingPost are trading 0.4% lower at $1.31.

Singapore Hot Stock List:
ALLIANCE MINERAL
CHASEN
NOBLE

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Posted by on March 27, 2017 in Uncategorized

 

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