04 January 2014

Singapore Stock Market - 2014 Week #1

Singapore 1st week of year 2014 YTD performance was unfortunately -1.14%. This is due to several reasons:

  • The market started profit taking after US S&P index hit record high on year 2013, with nearly 30% return a year. This is the best performance since year 1997 (before Asia financial crisis of 1998). Nonetheless, there were few supporting facts on stock performance last year such as U.S. economy recovery, lower unemployment rates, lower commodities price lead to better business profits etc.
  • China purchasing managers' index dropped to four month low of 51 in Dec 2013 from 51.4 in the previous month. A figure of more than 50 indicates the positive growth nonetheless. 
  • Singapore GDP was contracted final quarter 2013 as output eased. However economists forecast that Singapore GDP growth would remain positive (about 2% - 4%) this year thanks to U.S. & Europe economy recovery. 
Below is the summary of news updates of certain Singapore listed companies:
  • Sembmarine secured repeat order to build jack-up rig worth US$211.5M from Perisai Petroleum with schedule for delivery in 3Q16 and bring to the full year order wins to S$3.6B.
  • GSH Corp co-investing RM510M in 77.5% stake in Sutera Harbour Resort and two residential land parcels totally 25.21 acres in Kota Kinabalu, Sabah, Malaysia. 
  • Ramba Energy is granted extension till 31 March 2014 on cash partial offer. 
  • Sarin Technology disclosed that customer to purchase for 4 additional Galaxy/Solaris systems in 4Q13, which will bring to 12 in total. 
  • Ezion acquiring 100% of Teras Conquest 4 which owns jack-up rig with 6 years chartering for US$32.5M via issue of 18.4M new shares at S$2.407. 
  • Aspial made its first venture to Australia by acquiring a property in 383 King Street in Melbourne, Australia for AU$41.5M.
  • Singapore Property 4Q13 private residential property fall 0.8% QoQ. The HDB resale price index was expected to be remain weaker in year 2014.

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