The Daily Edge

Aug 22: Oxley, Pteris Global, OCBC, Aztech, Raffles Education, Aztech, Parkson Retail Asia, Sheng Siong

The Straits Times Index (STI) on Thursday ended +0.44 points higher or +0.01% to 3,324.09, taking the year-to-date performance to +5.03%. The top active stocks were DBS (+0.34%), OCBC Bank (+0.58%), Ezion (+5.16%), SingTel (+0.26%) and UOB (-0.04%). Here are some stocks that could move the market this Friday morning:

United Engineers in play as OCBC enters talks to sell holdings

United Engineers may be poised for a takeover after Oversea-Chinese Banking Corp. said it’s in talks to sell its stake in the Singapore property and construction company. OCBC, Southeast Asia’s second-largest lender, and its insurance unit Great Eastern Holdings Ltd. were approached about a possible offer for their United Engineers shares, they said in a joint stock exchange filing...

Sabana REIT to buy and lease back Changi South warehouse

Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (Sabana REIT) said its manager has entered into a sale and purchase agreement with Adviva Distribution to acquire the property located at 10 Changi South Street 2 for $50 million. On completion of the acquisition of the property, the building will be leased back to Adviva Distribution for a term of 10 years.

Oxley Holdings posts lower 4Q earnings of $9.8 mil

Property developer Oxley Holdings has reported a quadrupling of earnings to $286.7 million for the financial year ended 30 June 2014 (FY14), from $69.1 million in the previous financial year (FY13).

Pteris Global completes RTO deal to be part of bigger Tianda Group

Pteris Global, the global integrated airport logistics solutions provider, announced on Aug 21 that it has completed the acquisition of 100% equity interest in Shenzhen CIMC-Tianda Airport Support for a consideration of $137.6 million in a reverse takeover (RTO) deal. The consideration represents more than 30% discount based on the valuation of $197.6 million at at end December 2013 by Jones Lang...

Aztech Group acquires Glenn Marine Logistics Base for $11 mil

Parkson Retail Asia sees 4Q earnings fall 36% to $3.2 mil

Sheng Siong sets up JV company with Kunming LuChen Group Co. to operate supermarkets in China

Raffles Education posts FY2014 net profit of $58.3 mil

Confirmed: OCBC and insurance unit Great Eastern Holdings in talks to sell United Engineers holding

OCBC said in talks to sell United Engineers stake to Charoen: Update

NokScoot to start operations in first quarter of next year

Singapore July core inflation may climb to 22-month high: poll

AVJennings swings back to black with full year profit after tax of $21.8 mil

EOC plans up to US$250m share offering in Singapore: IFR

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Weekend Comment Aug 22: Searching for yield among Singapore REITs

IN A SINGAPORE market where the recent earnings season has generally disappointed, there are few places to hide, says CIMB Research. The firm contends that only a few outstanding themes stand out for investors. They are looking for specific catalysts that move stock prices; stocks with deep value; or...

Daryl Guppy: Shanghai Index momentum stalls

Daryl Guppy: Shanghai Index momentum stalls

The Shanghai Free Trade Zone (FTZ) is a Chinese contradiction. Critics charge that the zone has gone nowhere since its flashy announcement just a year ago. Others argue that significant progress has been made. At the time of the announcement, it was hinted that big reforms would quickly follow....

Weekend Comment Aug 15: In Ebola's shadow

YEAR TO DATE, the stock of palm oil plantation company Golden Agri-Resources is down 2.5 cents or 4.5%, underperforming the STI which is up some 4.5%. But since May, the performance of Golden Agri has deteriorated further, with the stock losing 14.7% of its value. That was about when the dreaded Ebola...

Manu Bhaskaran: Complacency on US interest rates may reverse abruptly as recovery broadens

THE TRAJECTORY OF the US economy will probably be the single- most important determinant of market direction in our part of the world in coming months, mainly because rising US demand could boost economic growth in Asia.

Daryl Guppy: Shanghai Index momentum consolidation

HOW YOU DO business in China reveals a great deal about the way you think about China. In many ways, the modern great China gold rush brings with it similar attitudes to those displayed in the days of the opium wars. It is all too easy to dismiss the comparison, but actions speak louder than words. ...

Weekend Comment Aug 8: Wilmar wilts as business challenges persist

Lim Yin Foong: London properties offer high capital growth, but poor rental yields

Daryl Guppy: Shanghai Index breakout pattern continues

Weekend Comment Aug 1: Osim: To uInfinity and beyond

Manu Bhaskaran: Are we in for greater financial turbulence?

Daryl Guppy: Shanghai Index breakout pattern continues

Weekend Comment Jul 25: Brighter outlook for Keppel

Lim Yin Foong: UK big four supermarkets losing market share to discounters

Daryl Guppy: Growth and ‘through trains’

Weekend Comment Jul 17: Geo-political risks rising