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- Bottom fishing in STI looks risky, says DMG
- Feb 9: SingTel, China Animal Healthcare, Rickmers, Keppel, ASL Marine, Longcheer, Cerebos, Boustead
- Feb 8:, Genting, Tuan Sing, Wing Tai, Guocoland, China Hu An Cable
- Singapore’s first casino may open this weekend
- Genting rises most in month on unit’s Singapore casino licence
- Genting Singapore shares gain 5.4% after getting casino licence
- Malaysia’s Genting rises pre-market on singapore casino licence
- China Animal Healthcare posts 40.5% rise in 4Q net profit of $10.1m
- STI gains 0.4% to close at 2,693.62
- SingTel group expands mobile customer base to 285 million as at Dec 31
- Rickmers Maritime posts 112% rise in 4Q net profit to $21.7m
The Daily Edge
Singapore’s 2009 tourist arrival down 4.3% y-o-y
The number of visitors to Singapore fell by 4.3% last year to 9.7 million, driving the revenue from the sector down 19.2% to $12.4 billion, the country’s tourism promotion agency said today. Singapore Tourism Board CEO Aw Kah Peng told a news conference the agency would disclose its forecast for tourist arrival and revenues for 2010 next month.
STI rises 0.4% to 2,703.21 at the trading break
Stocks on the measure trade at 14.4 times estimated earnings, compared with about 10 times at the start of 2009, according to data compiled by Bloomberg. The following shares were among the most active in the market. Longcheer Holdings (LHL SP) jumped 5% to 52.5 cents. The designer of mobile phones in China said second-quarter net profit attributable to shareholders was 39.1 million yuan ($8.1...
SingTel to focus on acquisitions to drive growth
Singapore Telecommunications (STEL.SI) is eyeing acquisitions in Asia and the fast-growing markets of Africa and the Middle East to boost growth after it reported quarterly earnings in line with estimates. Southeast Asia’s biggest telecoms firm has seen slow growth in Singapore and Australia in recent years, but a strengthening Australian dollar and booming markets in India and Indonesia...
SingTel says no decision made on Optus float
Singapore Telecommunications (STEL.SI), Southeast Asia’s biggest telecom firm, said today no decision had been made on a rumoured partial float of its wholly-owned Australian subsidiary, Optus. Media have speculated that SingTel would look to float around a quarter of its share in Optus, which could be worth up to A$4 billion ($4.9 billion), to fund expansion in other markets.
SingTel gains 1.7% to $3
Singapore Telecommunications (ST SP) added 1.7% to $3. Southeast Asia’s largest phone company reported third-quarter net income of $990.7 million. SingTel was projected to post profit of $948 million in the three months ended Dec 31, according to the median of three analyst estimates compiled by Bloomberg. The company also said its mobile customer base in the region expanded 23% last year, spurred...
Blog Heads
Bob Doll: It’s still a bull market but recent correction isn’t over yet
IT HAS BEEN a tough couple of weeks for equities. For the week ended Jan 29, the Dow Jones Industrial Average fell 1% to 10,067, the Standard & Poor’s 500 Index declined 1.6% to 1,074 and the Nasdaq Composite Index dropped 2.6% to 2,147. Stocks were down roughly 6.5% from their highs in mid-January....
Daryl Guppy: Testing Shanghai support for Spring Festival
THE SPRING FESTIVAL holiday delivers a week of no trading in China. Holidays always make people feel differently and this is reflected in their trading behaviour. Periods leading up to, or following, major holidays often show repeated statistical relationships. For some traders, this offers an opportunity...
Week-Ahead Comment Feb 8: Still more downside
MARKETS HAVE GROWN increasingly jittery over the last week, thanks to worries about sovereign debt in European countries, Chinese monetary tightening and the surprise rise in unemployment claims in the US. The Straits Times Index ended the week at 2,683.6 points, down 2.3% and tracking the 2.3% decline...
Mid-Week Comment Feb 3: SIA soars
NATIONAL CARRIER Singapore Airlines surprised the market yesterday with a return to the black: 3QFY2010 (SIA has a March year end) profits came in at $404 million, besting most analyst expectations. The market promptly rewarded the airline, sending its stock up 86 cents or 6.3% today to close at $14.52,...
Manu Bhaskaran: Are markets right to worry about China’s tightening?
CHINA’S REBOUND FROM the slowdown caused by the global financial crisis was impressively confirmed by justreleased data on its 2009 economic growth. GDP grew 8.7%, with 10.7% expansion in 4Q and growth rates for earlier quarters revised upwards. Moreover, all the lead indicators point to continued...
