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[SINGAPORE] Oil prices edged up on Friday, supported by a fall in Saudi exports to the United States, but overall markets remained under pressure on the back of a world market awash with fuel.
Prices for front-month Brent crude futures, the international benchmark for oil, were at US$50.63 per barrel at 0343 GMT, up 7 US cents from their last close.
In the United States, West Texas Intermediate (WTI) crude futures were up 12 US cents at US$47.82 a barrel.
Traders said the lift in prices came as a report that Saudi Arabia' s crude exports to the United States in March would fall by around 300,000 barrels per day (bpd) from February, in line with the Organization of the Petroleum Exporting Countries (Opec) agreement to reduce supply
" We have turned bullish ... over a three-month time horizon ... on the premise of strong stock draws in Q2 2017 and firm Opec, non-Opec compliance," BMI Research said in a note to clients.
Eco Spexial Waste Mgt plant suspect from NSL oilchem DYODD
Xiao liao Jurong Tuas big explosion don' t which stock going to dive ??
https://s.tradingview.com/x/b8OYLTK3/
Ascott REIT, SGX, Sabana REIT, China Everbright, Lian Beng, Vard |
| Source: TheEdge Markets | Publish date: Tue, 7 Mar 2017, 08:55 AM | > > Read article in News website
SINGAPORE (March 7): Here are some stocks that could move the market this Tuesday morning. Ascott Residence Trust is launching a rights issue to raise $442.7 million to partly fund Ascott REIT' s acquisition of properties in Frankfurt and Hamburg from its sponsor as well as pay for Ascott Orchard Singapore. Unitholders will be offered 481.7 million rights units at a ratio of 29 units for every 100 units. The rights units will be issued at 91.9 cents each, a discount of 21.5% to the closing price of $1.17 per unit on Monday. See: Ascott REIT launches 91.9 cents/share rights to fund Singapore and Germany acquisitions Two new indexes tracking firms operating in the consumer goods and services segments listed on the Singapore Exchange has been launched. They are the FTSE ST Consumer Goods & Services Index, which comprise businesses in either the consumer goods or the consumer services industries under the FTSE ST All-Share Index and the FTSE ST Consumer Goods & Services Liquid 20 Index, which comprise the most liquid stocks in the sector. See: New indexes tracking SGX consumer goods and services companies to be launched on March 20 The manager of Sabana REIT has confirmed that the strategic review will seek to address the concerns and act in the interests of unitholders. The manager also confirmed the attendance of that the valuers for the recently announced acquisitions will attend the EGM requisitioned by unitholders. See: SGX queries Sabana on attendees for EGM and aim of strategic review China Everbright Water has secured three wastewater treatment upgrading projects involving a total investment of approximately RMB 210 million ($43 million). Shares of China Everbright Water closed 1 cent lower at 42 cents on Monday. |
Reminder
MAINBOARD-LISTED Cacola Furniture International and Compact Metal Industries are facing delisting after Singapore Exchange (SGX) denied their requests for extra time to exit the watch-list.
Both companies are appealing. They were added to the watch-list after posting three straight years of losses with market caps below S$40 million.
They have to post at least one profitable year and raise their market caps above S$40 million to exit the watch-list.
Sofa maker Cacola, which was watch-listed in 2014, will be delisted on April 3 and is required to present an exit offer no later than the delisting date.
Cacola' s directors are citing the company' s 2016 profit and adjusted cash-flow position as supporting factors.
Compact Metal, an aluminium products supplier, was added to the watch-list in 2015. It did not provide details of its appeal.
HB8289 ( Date: 06-Mar-2017 21:32) Posted:
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Shocking when i renew your HDB CARpark annual season parking fee
2016 = $764.4
2017 = $1058.4 , sucking blood fee for people living in Yishun ??????
MAINBOARD-LISTED Cacola Furniture International and Compact Metal Industries are facing delisting after Singapore Exchange (SGX) denied their requests for extra time to exit the watch-list.
Both companies are appealing. They were added to the watch-list after posting three straight years of losses with market caps below S$40 million.
They have to post at least one profitable year and raise their market caps above S$40 million to exit the watch-list.
Sofa maker Cacola, which was watch-listed in 2014, will be delisted on April 3 and is required to present an exit offer no later than the delisting date.
Cacola' s directors are citing the company' s 2016 profit and adjusted cash-flow position as supporting factors.
Compact Metal, an aluminium products supplier, was added to the watch-list in 2015. It did not provide details of its appeal.
| Chasen Holdings Limited |
For FY2016, our group revenue suffered a 5% contraction year-on-year from S$98.8 million to S$93.5 million. The shortfall was attributed largely, for the first time, to the reduction in revenue from the Specialist Relocation business segment by S$4.8 million or 10% from S$47.5 million to S$42.7 million. Meanwhile, Technical & Engineering recorded minimal increase of S$113,000 or 0.3% and Third Party Logistics reported a marginal drop of S$0.6 million or 3.6%.
Loss After Tax for FY2016 was S$3.3 million compared to a positive bottom line of S$2.2 million in FY2015. Loss was largely due to higher provision for and write-off of trade and non-trade doubtful debts. The negative bottom line was also the result of loss in foreign exchange from the depreciating Malaysian Ringgit and Renminbi.
Look like a correction today and also an acid test for most count to determine how much low it can go before their carry out the music chair game to do the yo yo swing right ?
Singapore
NOBLE Group' s stock fell 16.7 per cent on Friday after a negative report from antagonist outfit Iceberg Research chilled optimism about a strategic investment by China oil and gas giant Sinochem.
The commodity trader' s shares closed at 22.5 Singapore cents, down by 4.5 Singapore cents, after 623.4 million shares changed hands. That drop wiped out almost all of the gains that the stock had made since reports appeared on Feb 14 that state-owned Sinochem was in early talks for a possible investment in Noble.
Those rumours have not been confirmed.
LISTENING TO THE FINANCIAL CROWD
293-Feb8131823270100200
Updated: 27.02.2017, 22:12, last 30 da
Noble' s Friday slide prompted a trading query from Singapore Exchange. Noble replied that, save for Iceberg' s report, it was not aware of any undisclosed matter that could have accounted for the trading activity.
In its report, Iceberg questioned the surge in Noble' s share price following the Sinochem speculation. Iceberg argued that Noble has been struggling to find a good strategic investor because of doubts over the value of its commodity contracts.
Noble has also been forced to sell some of its businesses to obtain capital because its contracts could not be sold, and has not made the management changes required to improve the situation, Iceberg alleged.
The report was the latest from Iceberg, a firm whose stated motto of " revealing financial manipulation and accounting frauds" has so far been overwhelmingly aimed at Noble. Since Iceberg' s first report questioning the value of Noble' s assets, the company has seen its share price fall 81 per cent, lost its investment-grade credit rating and had to swallow more than US$1 billion of impairments.
Asked to respond to the latest volley, Noble referred to its past announcements in which it has repeatedly rejected Iceberg' s claims. The company will report its full-year results on Feb 27, and companies are typically tight-lipped just before announcing their results. Analysts that cover Noble were generally unmoved by Iceberg, with the focus trained on Noble' s pending results announcement to shed more light.
" Results are coming out in the next few days," Morningstar analyst Lorraine Tan said. " It' s still to be seen whether there' s fundamental improvement that can be sustained. We definitely think liquidity conditions in the commodities market have improved, which should help Noble."
Ms Tan, who has a 17 Singapore cent target for the stock, said cash flow and Noble' s access to capital are critical determinants of how much Noble can improve its business. Along those lines, a strategic investor that can offer access to capital would be a boost for Noble. " One of the keys to a good trading house is access to capital lines," Ms Tan said. " You can only grow your trading relationships if you have access to working capital."
[LONDON] Oil prices rose on Monday as investors showed record confidence in prices rising further, though gains were capped by the prospect of faster growth in US oil production.
Brent crude oil rose 52 US cents to US$56.51 a barrel by 1224 GMT, while US West Texas Intermediate added 42 US cents to US$54.41.
Investors raised their bets on rising Brent crude oil prices to a new high last week, data from the InterContinental Exchange showed on Monday, breaking the 500,000-lot mark for the first time on record.
Money managers also raised their bullish US crude futures and options positions in the week to Feb 21 to the highest on record, the US Commodity Futures Trading Commission (CFTC) said on Friday.
Worst not over for Singapore property, billionaire Kwek says
By:
Bloomberg
SINGAPORE (Feb 23): The worst isn&rsquo t over for Singapore&rsquo s property market, after government curbs helped push home prices lower for a third year in 2016, said Kwek Leng Beng, the billionaire chairman of City Developments.
&ldquo I do not believe the worst is over although I think the worst has slowed down,&rdquo Kwek said in a Bloomberg Television interview with Haslinda Amin.
Singapore home prices fell 3% in 2016, as the government held steadfast on cooling measures. Prices slipped for a 13th straight quarter in the three months ended Dec 31, the longest streak since data was first published in 1975.
The government has signaled it is reluctant to ease property curbs, including capping debt repayments at 60 percent of a borrower&rsquo s income and higher stamp duties, as it wants to avoid the market overheating again.
City Developments fourth-quarter profit declined 41% to $244 million due to the absence of substantial profits recognized the same quarter a year ago from its so-called Profit Participation Securities deal for office assets. Revenue for the quarter increased 37% to $1.17 billion.
The developer sold 1,017 homes in Singapore last year, a 51% increase from 2015, for a total value of $1.2 billion. For the year ended Dec 31, profit declined 16% to $653 million even as revenue climbed 18% to $3.9 billion.
Luxury Homes
Residential prices may take up to nine months to show signs of a recovery, Kwek said. Luxury homes are a good buy because prices have fallen by about 35% since 2013, he said.
&ldquo A lot depends on the oversupply and the penalties we have to pay if we don&rsquo t sell in a certain time,&rdquo Kwek said. &ldquo In light of the lower interest environment the developer will try to hold on for as long as possible, after a certain point when he has no choice he will have to cut the price.&rdquo
War Chest
&ldquo We plan to be more acquisitive with a focus on finding in-place income in Singapore and overseas,&rdquo Kwek said in the earnings statement. &ldquo Our robust balance sheet and war chest place us in a strong position to deploy capital for acquisitions which can be in the form of physical assets, equities or debt instruments.&rdquo
The developer has more than $3.5 billion in funds under management and is on track to achieve its target of $5 billion by end-2018.
Singapore property demand remains " very resilient," supported by factors including low interest rates and a stable economy, National Development Minister Lawrence Wong said in an interview Tuesday. The cooling measures &ldquo have helped to achieve a soft landing in the property market,&rdquo Wong said.
Earlier this month, rival CapitaLand&rsquo s chief executive officer said property curbs are set to stay in place for at least another year amid signs the city&rsquo s housing market is stabilizing.
&ldquo We see volume picking up and price declines have slowed,&rdquo Lim Ming Yan said Feb 15. &ldquo We see this trend continuing for 2017. There is no compelling reason for the government at this point to make major changes&rdquo to property curbs, he said.
[SINGAPORE] Brent oil prices edged up on Monday and were set to rise for five out of seven sessions as a global supply glut appears to ease, but rising US production limited gains.
Brent crude was up 0.04 per cent at US$56.01 a barrel, while US West Texas Intermediate was unchanged at US$53.99 a barrel.
Oil prices tumbled on Friday after US Energy Information Administration data showed US crude inventories rose for a seventh straight week.
But the market has been supported within a tight US$4 to US$5 range since November, when the Organization of the Petroleum Exporting Countries (Opec) and other producers agreed to cut production.
LISTENING TO THE FINANCIAL CROWD
Market voices on: OPEC
| 1.OPEC Limits Oil Output
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| 2.Deal
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| 3.Production
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| 4.Crude Oil Price
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| 5.Crude Oil Production
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Updated: 27.02.2017, 09:32, last 30 days
" EIA data showed stocks rose 564,000 barrels to 518.7 million last week," ANZ said in a note.
" However, it was the lowest increase over the past couple of months. If this trend of lower imports and smaller gains in inventories persists over the coming weeks, it would suggest that the Opec led production cuts are starting to have an impact."
Opec' s record compliance with the deal has surprised the market, and the biggest laggards, the United Arab Emirates and Iraq, have pledged to catch up with their targets.
The International Energy Agency put Opec' s average compliance at a record 90 per cent in January, and based on a Reuters average of production surveys, it stands at 88 per cent.
Saudi Arabia has offered to reduce oil production if rival Iran caps its own output this year, four sources familiar with the discussions told Reuters, as Riyadh tries to strike an elusive Opec deal to curtail supply and boost prices.
REUTERS
Insider buying and buybacks surge
Selling remains low key purchases in Kingsmen, Maxi-Cash, GuocoLand and Lum Chang.
THE insider buying surged following two weeks of low purchases with six companies that recorded 12 acquisitions worth S$5.73 million based on filings on Singapore Exchange from Feb 20 to 24. The figures were sharply up from the previous week' s four firms, five purchases and S$0.23 million.
SINGAPORE Medical Group swung into the black with a net profit of S$2.42 million for the financial year ended December 2016 from a loss of S$148,000 a year ago.
This marks the highest net profit that the health care provider has chalked up since its initial public offering in 2009, it said in a statement.
Revenue rose 34.3 per cent to a record S$41.58 million from S$30.97 million previously which was attributed to robust growth in its health care and newly formed diagnostic and aesthetics segment.
Earnings per share came in at 0.84 Singapore cent versus a loss per share of 0.05 Singapore cent.
No dividend was declared over the period, the same as the previous year.
http://research.sginvestors.io/2017/02/ezion-holdings-cimb-research-2017-02-23.html
Huge fire breaks out at waste management plant in Tuas
- Posted 23 Feb 2017 07:40
- Updated 23 Feb 2017 10:26
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SINGAPORE: Thick columns of smoke were seen in the Tuas area on Thursday morning (Feb 23) as an enormous fire raged at a waste management plant, and firefighters are currently battling the blaze.
The Singapore Civil Defence Force (SCDF) said in a statement at 7.18am that the fire was at 23 Tuas View Circuit, the address of Eco Special Waste Management.
" Firefighters are already at scene fighting the fire with water jets," it said.
(Photo: SCDF)
In an update at 9.49am, SCDF said it had deployed about 200 responders to the site of the fire along with nine fire engines, five Red Rhinos, four unmanned firefighting machines, 15 support vehicles and an ambulance.
The fire involves chemical waste and flammable materials, it added. " Periodic explosions could be heard as firefighters battle the blaze to contain it within the affected premises. SCDF is also applying foam to suppress the fire in the drains within the immediate vicinity."
(Photo: SCDF)
The Singapore Police Force confirmed the fire had been reported and said Tuas South Ave 3 and Tuas View Crescent were closed. The public is advised to avoid the area, the authorities added.
When Channel NewsAsia arrived on the scene at 9.50am, there was an acrid chemical smell in the air. An extensive cordon had been established around the area extending to Tuas South Avenues 3,7,8 and 9, with SCDF personnel preventing people from getting any closer.
StarHub mobile subscribers within the immediate vicinity of the fire incident would have received an advisory message urging members of public to stay away from the area, SCDF added.
Marine and offshore manufacturer Pride-Chem, which is situated nearby, told Channel NewsAsia at 9.15am that the fire has been " contained" and it looks like " SCDF has it under control" . Chemicals company Framo Singapore located across the road from the fire said its staff had been evacuated to a staging area, with masks distributed as a precautionary measure.
Eco Special Waste Management' s plant had previously caught fire in May 2012 but the fire was contained in the incinerator and put out in 30 minutes by four fire engines, according to past reports.