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Right timing: Temporary pause as STI consolidates gains
SINGAPORE (Feb 22): The recovery by the Straits Times Index that started towards mid-January is likely to continue despite short term hiccups. Quarterly momentum is in rising mode, the 50- and 100-day moving averages are positively placed, and the index remains above its 200-day moving average. ADX is rising and the DIs are positively placed. Interestingly annual momentum has stabilised ...
UOB is RHB's top pick when it comes to local banks
SINGAPORE (Feb 22): United Overseas Bank is the top pick for Singapore banks, says RHB Research which believes the share price weakness after the results release offers a good entry point. UOB has also declared a final dividend of 50 cents per share and special dividend of 20 cents per share. FY2018 total dividend of $1.20 gives an attractive yield of 4.6%. Rising 18% y-o-y, UOB’s FY2018 ...
Pioneer, Merdeka... Next, a Majulah Generation package?
SINGAPORE (Feb 22): Hot on the heels of a $9 billion Pioneer Generation package announced in Budget 2014, the $8 billion Merdeka Generation package is setting up expectations of similar packages for every generation of ageing Singaporeans. Notably, both are geared towards healthcare and broadly available to an entire generation of Singaporeans. Already, analysts are expecting at least one ...
Generational packages heart-warming, but targeted aid still needed
SINGAPORE (Feb 25): The highlight of Budget 2019 is the much-anticipated $6.1 billion Merdeka Generation Package. It is targeted at about 500,000 Singaporeans born between 1950 and 1959 — mostly those who missed out on the country’s first generational package unveiled in Budget 2014. While the MGP has fewer initiatives than the $8 billion Pioneer Generation Package, it is still substantial, ...
This tech start-up is aiming for the stars
SINGAPORE (Feb 22): Adam Gilmour had been a banker for more than 20 years when he left his job in 2012 to realise his boyhood dream of developing space technology, especially rockets. Today, the CEO and co-founder of Gilmour Space Technologies leads a team that designs and builds hybrid rockets, which he claims are cheaper, more environmentally friendly and safer. This is because the ...
Investing in late-cycle earnings growth
SINGAPORE (Feb 25): Positive news flow on the ongoing US-China trade talks continued to buoy sentiment for global stocks over the past week. Following reported progress after days of negotiations in Beijing, further discussions have resumed in the US. Clearly, markets have now priced in some sort of deal to avert another tariff hike or, at the very least, an extension to the March 1 ...
Analysts bullish on Wilmar despite challenges
SINGAPORE (Feb 22): RHB Research is keeping Wilmar International as its top plantation sector and country pick despite a tough 4Q18. The latest quarter saw the group hit by challenges including an African swine fever outbreak in China and a provision for impairment on its goodwill and sugar milling assets in Australia. Wilmar saw its earnings fall 52.9% to US$200.9 million ($271.5 million) ...
Despite FY18 earnings miss, ST Engineering still on the right track for future growth
SINGAPORE (Feb 22): Analysts are maintaining a positive stance on ST Engineering, despite a drop in the group’s 4Q18 and FY18 earnings. ST Engineering recorded a 26% y-o-y drop in its 4Q18 earnings to $124.5 million, bringing FY18 earnings to $494.2 million, 2% lower y-o-y. Revenue for the quarter was 5% higher y-o-y at $1.77 billion, while profit before tax dropped 7% y-o-y to $160.5 ...
Genting Singapore's outlook unmarred by slight earnings disappointment, according to analysts
SINGAPORE (Feb 22): Maybank Kim Eng, OCBC Investment Research, RHB Research and CGS-CIMB Research are maintaining their “buy” calls on Genting Singapore (GENS) with the respective target prices of $1.26, $1.31, $1.22 and $1.28.   This comes after GENS’s latest set of FY18 financials fell slightly short of, or came in at the lower-end of the first three research houses’ ...
Singapore has a better Bali on its doorstep, developer says
SINGAPORE (Feb 22): Singapore’s second-largest developer has a suggestion for the government: re-position the billionaire enclave of Sentosa as a tourism mecca like Bali. Property values at Sentosa Cove, a residential area nestled on a tiny island off the south coast, have been hit particularly hard, with home prices down about 30% from the highs seen in 2010. Even as the rest of the ...