Latest News

Right timing: Awaiting rebound amid accelerated decline
SINGAPORE (June 22): Here are two charts for your technical analysis this week: STI daiiy (3,356) The Straits TImes Index fell almost 70 points in the past five sessions after falling 80 points a week earlier. Down momentum is strong, but short-term indicators are becoming increasingly oversold. Short-term stochastics is at the bottom of its range, and 21-day RSI is at 30, a low level. ADX ...
Noble up 30% on securing trade finance facilities, debt restructuring plan
SINGAPORE (June 22): Debt-laden commodities trader Noble Group said on Friday it had secured US$100 million ($136 million) in trade finance facilities from a group of investors, winning fresh support for a US$3.4 billion debt restructuring plan that is key to its survival. In a regulatory statement, Noble, once Asia's largest commodity trader, said a consortium of investors, which includes ...
Ho Bee to get a recurrent income boost from Ropemaker acquisition: Maybank
SINGAPORE (June 22): Maybank KimEng is raising Ho Bee Land’s FY18-20 EPS by 7-22% after incorporating the developer’s recent acquisition of Ropemaker Place in the UK. See: Ho Bee Land acquires Ropemaker Place in London for $1.16 bil Maybank said the deal puts Ho Bee’s conservative balance sheet to work and should enhance its recurring EBIT by 39%. And at a 7% discount to the ...
Who says Singapore's millennials live paycheck to paycheck? This study finds just the opposite
SINGAPORE (June 22): Contrary to stereotypes of being paycheck spenders and short-term planners, millennials are the most likely generation in Singapore to be ahead of their peers in property investment in more ways than one. This is according to HSBC’s Beyond the Bricks 2: The value of home global survey, which features views of more than 10,000 people across 10 countries and territories ...
Singapore Exchange poised to benefit from global volatility, says RHB
SINGAPORE (June 22): RHB Research is keeping its “buy” call on Singapore Exchange (SGX) with an unchanged target price of $9.00, on the back of a bullish outlook for the bourse’s securities trading volume. “Global news flow on US-China trade tensions and US Fed rate hikes could stimulate trading,” says analyst Leng Seng Choon in a Friday report. The way he sees it, such developments ...
Mahathir seeks to recover US$4.5 billion 1MDB funds, Goldman fees
(June 22): Malaysia will seek to recoup US$4.5 billion ($6.1 billion) of funds that were potentially lost through 1MDB, as well as fees paid to Goldman Sachs Group, according to Prime Minister Mahathir Mohamad. “We have to prove ownership of the money,” Mahathir, 92, said in an interview with Bloomberg Television’s Haslinda Amin on Friday. “The previous government, in order to avoid ...
Uncertainty looms over Singapore Airlines with mixed operating stats, US-China trade spat: OCBC
SINGAPORE (June 22): OCBC Investment Research is maintaining “hold” on Singapore Airlines (SIA) with unchanged forecasts and a fair value of $11.30, in light of fluid macro conditions and the group’s recent mixed bag of operating statistics. In a Thursday report, lead analyst Eugene Chua observes healthy passenger load factor (PLF) across SilkAir, Scoot and parent airline SIA, with the ...
What's the difference between the airports business and airlines business?
SINGAPORE (June 22): The International Air Transport Association forecasts that 1% of the world GDP, or US$871 billion ($1.17 trillion) will be spent on air transport in 2018. In addition, the total number of air travellers is expected to double from four billion in 2017 to 7.8 billion in 2036, using conservative estimates. This is mainly due to the current and expected growth in emerging ...
2 consumer stocks that are poised to score amid World Cup, GSS boost
SINGAPORE (June 22): RHB Research is remaining optimistic on the consumer sector in Singapore this year, as consumer spending is expected to rise on the back of strong economic growth and an improved job outlook. According to analyst Juliana Cai, retail sales excluding motor vehicles has edged up by 0.7% in April and by 2% year-to-date. “Retail sales are largely a function of consumers’ ...
Top Glove kept at 'buy' as it rides on solid global demand growth
SINGAPORE (June 22): Maybank Kim Eng is maintaining its “buy” recommendation on Top Glove, the world’s largest glove manufacturer, with a target price of RM12.90 ($4.40). This came on the back of the group on June 19 announcing that its 3Q18 earnings have increased by 51.4% to RM117.6 million. This was largely attributed to its revenue reaching a record high of RM1.10 billion, ...