MORNING BUZZ 30 March 2017 Market Colour
Market Indicators Mkt. T/O (S$ mil)
27-Mar
28-Mar
29-Mar
1,048.8
1,239.5
1,375.8
Stock Advances
177
328
327
Stock Declines
288
146
147
27-Mar
28-Mar
29-Mar
Major Indices 20,551.0 20,701.5 20,659.3
DJ Ind Avg S & P 500
2,341.6
2,358.6
2,361.1
Nasdaq Comp
5,840.4
5,875.1
5,897.5
Singapore stocks finish higher as the STI traded at new 19-month highs led by gains from Hongkong Land (+5%), Wilmar (+1.7%) and Keppel Corp (+1.6%). While the Nasdaq rose and the S&P 500 turned positive after opening lower, the Dow remained in modestly negative territory, putting the blue-chip indicator on track for its ninth decline out of the past ten sessions. The energy sector gained 1.2%, leading all sectors, supported by stronger oil prices. In Europe, stocks rose with little reaction to the formal announcement of U.K’s intention to leave the European Union. The pan-European Stoxx 600 index rose 0.4% to 378.5 points, its highest closing level in nearly 16 months, consolidating a rally that has been fuelled by brightening economic prospects in the region after years of sluggish growth.
24,193.7 24,345.9 24,392.1
Hang Seng
News STI Index
NikkoAm-StraitsTrading Asia ex-Japan REIT ETF: The REIT ETF was listed on the Singapore Exchange (SGX) on Wednesday. The ETF, the world's first such fund, was issued in partnership between Nikko Asset Management (NikkoAM) and Straits Trading, and managed by NikkoAM. This ETF is classified as an excluded investment product, making it accessible to all investors. It tracks FTSE's EPRA/NAREIT Asia ex-Japan REITS Net Total Return SGD index, with 70% weightage on SG-listed REITS and the remaining 30% weightage on REITS listed in HK and Malaysia. The listing reflects investor demand for REIT products, and offers investors diversification across geographical markets in Asia and high-growth REIT sub-sectors including financial, tech hubs, hospitality and healthcare, all in a single trade.
3,184.57 (+0.85%)
Source: Bloomberg
Commodities Current % Chge Price from Close 1,252.84
Gold (SPOT) US$ / OZ
-0.02%
Oil (NYMEX CWTI|) US$ / bbl
49.55
1.72%
Baltic Dry Index
1338
0.38%
Exchange Rates
USD : SGD 1.3946
/
MYR : SGD 3.1681
Centurion Corporation: The company plans to acquire a site in Adelaide, Australia, for A$3.5 million and develop it into a new 280-bed student accommodation. The total cost, including the cost of land, to develop the site is expected to be about A$45.5 million.The freehold development site is located off Rundle Street on the eastern side of Adelaide City Centre, within walking distance to University of Adelaide and University of South Australia and in close proximity to the main Rundle Mall shopping strip.The project is expected to be completed in the fourth quarter of 2018. This will be Centurion's second asset in Australia, after RMIT Village which was acquired in 2014. Business Times / Bloomberg / Straits Times / The Edge Markets / SGX
SoSource: Bloomberg
Commentaries From The Trading Desk
Interest Rates 3-mth Sibor
0.946%
SGS (10 yr)
2.194%
KGI Securities Research Team
KGI Securities (Singapore) Pte. Ltd.
Katrina Group: The food and beverage business specialising in multi-cuisine concepts and restaurant operations, has entered into a non-binding MOU with Ajisen (China) Holdings Limited. Under the terms of the MOU, Katrina and Ajisen China will collaborate in opening restaurants under the brand "So Pho" in Hong Kong and China. The parties will negotiate and determine if the proposed collaboration will be through a franchise or joint venture, with a definitive agreement expected to be finalised by the first half of 2017. Ajisen China, which is listed on the mainboard of Hong Kong Stock Exchange, is one of the largest fast casual restaurant chain operators with an extensive chain of restaurants in Hong Kong and China. Katrina Group owns and operates 33 restaurants in Singapore under nine different brands, such as Bali Thai, Streats and So Pho.
28/3 23/3 21/3
Finding Support on the Charts – last chance to sell? “A Bird in the Hand” – Singapore hardware manufacturers Activity in the Rig sector could be just what the market needs
Note: The comments and views in this section are those of the Trading Desk team and do not necessarily coincide with the views of the Fundamental Equities Research team.
PlePlease see important disclosures at the end of this publication
MORNING BUZZ STI Components and Key Metrics Ticker
Company Name
Last Price (Lcl)
Market Cap (SGDm)
1 Day Change (%)
Total Return YTD (%)
Total Return 1 Week (%)
Div Yield FY16 (%)
Div Yield FY17 (%)
FINANCIALS DBS SP
DBS
19.29
49,048
1.4%
11.2%
3.3%
3.2%
3.3%
OCBC SP
OCBC
9.72
40,670
1.0%
9.0%
2.9%
3.8%
4.0%
UOB SP
UOB
22.00
35,995
0.6%
7.8%
2.2%
3.3%
3.4%
SGX SP
SGX
7.77
8,316
0.8%
9.3%
3.7%
3.8%
4.1%
AREIT SP
As cenda s REIT
2.51
7,239
(0.8%)
13.3%
0.4%
6.3%
6.4%
CAPL SP CCT SP
Ca pi ta La nd Ca pi ta La nd Comm Trus t
3.68 1.55
15,629 4,602
0.5% 0.6%
21.9% 8.0%
0.5% 2.0%
2.7% 5.8%
2.8% 5.9%
CT SP
Ca pi ta La nd Ma l l Trus t
1.97
6,966
0.3%
5.8%
1.3%
5.6%
5.6%
CIT SP
Ci ty Devel opment
10.35
9,411
0.2%
25.0%
1.2%
1.4%
1.4%
GLP SP
Gl oba l Logi s ti c
2.77
12,983
(0.4%)
25.9%
1.1%
2.4%
2.5%
HKL SP
Hongkong La nd USD
7.65
25,103
5.1%
23.1%
5.7%
2.5%
2.6%
UOL SP
UOL
7.02
5,649
0.6%
17.2%
2.5%
2.1%
2.1%
PROPERTIES
TELECOMMUNICATIONS ST SP
Si ngTel
3.93
64,173
0.3%
7.7%
0.3%
4.5%
4.7%
STH SP
Sta rHub
2.91
5,030
0.3%
3.6%
2.1%
5.5%
5.4%
CONSUMER SERVICES AND GOODS JCNC SP Ja rdi ne C&C
44.87
17,734
1.3%
8.8%
1.3%
2.5%
2.7%
JM SP
Ja rdi ne Ma thes on USD
66.11
65,867
(0.5%)
21.7%
1.0%
2.4%
2.5%
GENS SP
Genti ng Si nga pore
1.02
12,265
1.0%
12.7%
4.1%
2.8%
2.9%
SPH SP THBEV SP
SPH Tha i Bev
3.60 0.94
5,757 23,478
0.8% 0.0%
2.0% 12.1%
0.8% 1.1%
4.7% 3.2%
4.6% 3.5%
SIA SP
Si nga pore Ai rl i nes
10.19
12,039
0.7%
5.4%
2.3%
3.4%
2.7%
CD SP
ComfortDel Gro
2.60
5,609
1.6%
5.3%
4.0%
4.2%
4.6%
TRANSPORT
COMMODITIES GGR SP Gol den Agri
0.38
4,839
0.0%
(11.6%)
(1.3%)
2.6%
2.6%
WIL SP Wi l ma r OFFSHORE & MARINE/INDUSTRIALS
3.58
22,629
1.7%
(0.3%)
2.0%
2.8%
3.1%
KEP SP SCI SP
6.97 3.17
12,636 5,656
1.6% 0.6%
20.4% 11.2%
3.7% 2.3%
3.1% 2.9%
3.3% 3.3%
YZJSGD SP Ya ngzi ji a ng SGD
1.14
4,349
0.4%
39.3%
2.7%
3.5%
3.5%
SATS SP SIE SP
SATS SIA Engi neeri ng
4.93 3.69
5,494 4,133
0.2% 0.3%
1.6% 9.5%
2.9% 0.8%
3.4% 4.1%
3.7% 4.0%
STE SP HPHT SP
ST Engi neeri ng HPH Trus t USD
3.74 0.41
11,654 4,981
0.3% 1.2%
15.8% (0.6%)
3.0% 2.5%
4.1% 6.8%
4.3% 7.0%
Div Yield FY17 (%) 2.5%
Keppel Corp Sembcorp Indus tri es
Dividend Yield based on Bloomberg consensus. Total return includes dividends. Source: Bloomberg
STI Reserve List (by alphabetical order) - STI next review date: 1 June 2017 Company Name
Last Price (Lcl)
Market Cap (SGDm)
FR SP
Fi rs t Res ources
1.97
3,121
1 Day Change (%) (0.3%)
KREIT SP
Keppel REIT
1.05
3,468
0.5%
MCT SP SPOST SP
Ma pl etree Comm Trus t Si nga pore Pos t
1.51 1.35
4,335 3,070
SUN SP
Suntec REIT
1.79
4,554
Ticker
Total Return YTD (%)
Total Return 1 Week (%)
3.7%
0.8%
Div Yield FY16 (%) 2.0%
4.0%
2.5%
5.9%
5.9%
0.0% 1.9%
9.9% (7.5%)
1.3% 1.1%
5.7% 3.3%
5.9% 3.7%
0.0%
10.1%
2.6%
5.5%
5.5%
Dividend Yield based on Bloomberg consensus. Total return includes dividends. Source: Bloomberg
KGI Securities (Singapore) Pte. Ltd.
2
MORNING BUZZ
Appendix 1: Corporate Action Dividends Company
Results Period Ann Date
StarHub
DPS
Payable
Share Price 29-Mar-17
Yield (%)
Ex-Date
Book Close
3-Feb-17 FY16 SGD 0.050000
17-Apr-17
19-Apr-17
3-Ma y-17 SGD
2.910
1.7
M1
24-Ja n-17 FY16 SGD 0.059000
19-Apr-17
21-Apr-17
28-Apr-17 SGD
2.150
2.7
Sembcorp Indus tri es
23-Feb-17 FY16 SGD 0.040000
24-Apr-17
26-Apr-17
16-Ma y-17 SGD
3.170
1.3
Sembcorp Ma ri ne
22-Feb-17 FY16 SGD 0.010000
25-Apr-17
27-Apr-17
12-Ma y-17 SGD
1.865
0.5
Si nga pore Technol ogi es Engrg
16-Feb-17 FY16 SGD 0.100000
25-Apr-17
27-Apr-17
9-Ma y-17 SGD
3.740
2.7
Keppel Corp
26-Ja n-17 FY16 SGD 0.120000
26-Apr-17
28-Apr-17
11-Ma y-17 SGD
6.970
1.7
Keppel Tel ecoms & Tpt
25-Ja n-17 FY16 SGD 0.045000
26-Apr-17
28-Apr-17
12-Ma y-17 SGD
1.785
2.5
Uni ted Overs ea s Ba nk
17-Feb-16 FY16 SGD 0.350000
26-Apr-17
28-Apr-17
13-Jun-17 SGD 22.000
1.6
Ci ty Devel opments
23-Feb-17 FY16 SGD 0.080000
27-Apr-17
2-Ma y-17
22-Ma y-17 SGD 10.350
0.8
Ci ty Devel opments - Speci a l
23-Feb-17 FY16 SGD 0.040000
27-Apr-17
2-Ma y-17
22-Ma y-17 SGD 10.350
0.4
Gol den Agri -Res ources
24-Feb-17 FY16 SGD 0.006350
28-Apr-17
3-Ma y-17
11-Ma y-17 SGD
1.7
Ex-Date
Book Close
29-Ma r-17
31-Ma r-17
0.380
Rights & Bonus Issues Company
Rights Issue
Gl oba l Tech (Hol di ngs )
1 Ri ghts Sha re @ HK$0.170 per Ri ghts Sha re for every 2 exi s ting Sha res hel d
Rights Trading Period From
To
18-Apr-17
25-Apr-17
Source: SGX Annoucement
Buyout Company
Offer Price
Remarks
Closing Date
Offeror
ARA As s et Ma na gement
SGD 1.78
Ca s h
5.00 p.m. on 10 Apr 2017
Athena Invt Co (Ca yma n) Ltd
Auri c Pa ci fi c Grp
SGD 1.65
Ca s h
5.30 p.m. on 7 Apr 2017
Si l ver Creek Ca pi tal Pte. Ltd.
Gl oba l Premi um Hotel s
SGD 0.365
Ca s h
5.30 p.m. on 13 Apr 2017
JK Gl oba l Ca pi tal Pte. Ltd.
Hea l thwa y Medi ca l Corp
SGD 0.042
Ca s h
5.30 p.m. on 2 Ma y 2017
Gentle Ca re Pte. Ltd.
Interna tiona l Hea l thwa y Corp
SGD 0.106
Ca s h
5.30 p.m. on 13 Apr 2017
Trea s ure Int'l Hl dgs Pte. Ltd.
Ki ngboa rd Copper Foi l Hol di ngs
SGD 0.40
Ca s h
5.30 p.m. on 17 Apr 2017
Excel Fi rs t Inves tments
Spi ndex Indus tri es Ltd
SGD 0.85
Ca s h
5.30 p.m. on 12 Apr 2017
Hong Wei Hl dgs Ltd
Super Group
SGD 1.30
Ca s h
5.30 p.m. on 25 Apr 2017
Sa pphi re Inves tments B.V
KGI Securities (Singapore) Pte. Ltd.
MORNING BUZZ
Appendix 2: Financial Calendar
Monday
Tuesday 27-Mar
Wednesday 28-Mar
Thursday 29-Mar
Q2: Second Chance Properties
Friday 30-Mar
*Q4: Alibaba Pictures Grp
Q4: Atlantic Navigation Hldgs Spore
*Q4: Tan Chong Int'l
3-Apr-17
4-Apr
31-Mar
*Q1: Renewable Energy Asia
5-Apr
6-Apr
7-Apr Q2: EMAS Offshore
10-Apr
11-Apr
Q2: SPH REIT
12-Apr
13-Apr
14-Apr SG: 1Q17 Advance GDP Estimates
Q1: Soilbuild Biz Space REIT
(Not later than 14 Apr)
Q2: Spore Press Hldgs
17-Apr
18-Apr Q1: Qian Hu
24-Apr
19-Apr Q1: China Aviation Oil Spore
25-Apr
26-Apr SG (Mar 2017): Index of Industrial Production
SG (Mar 2017): CPI
20-Apr
21-Apr
Q3: Singapore Exchange
27-Apr SG (1Q17): Industrial Properties
28-Apr SG: 1Q17 Qtly Property Mkt Updates
SG (Mar 2017): Unemployment Rate & Employment Q4: Mapletree Industrial Trust
Q4: Mapletree Commercial Trust
Q2: Renewable Energy Asia (Release on Sun, 30-Apr)
*Q1: Venture Corp
* Tentative Source: Bloomberg
KGI Securities (Singapore) Pte. Ltd.
MORNING BUZZ
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