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| 22-Feb-2013 15:05 |
Ezion
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Ezion
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Upgraded to 1 cent bids | ||||
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| 22-Feb-2013 14:45 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Revised data shows stronger growth momentum in Q4 SYDNEY, Feb 22 (IFR) - Singapore not only managed to dodge the recession bullet* last quarter but GDP growth turned out to be much stronger than initially estimated. Revised data shows a 3.3% quarterly rise in December quarter GDP compared to the previous estimate of +1.8%. The upward revision was also more than analyst expectations (median +2.1% q/q, high f/c +2.5%) and compares to the decline of 4.6% in Q3-12 and mostly flat growth of 0.1% in Q2-12. The government today said that the outlook for Singapore's economy remains " cautiously positive" and maintained its 2013 GDP growth forecast of 1.0-3.0% (vs. annual average growth of 1.3% for 2012). Singapore's upward revision to Q4 GDP parallels unexpectedly strong sub-regional growth with Malaysia's economy improving to 6.4% y/y (vs. 5.5% f/c) [ID:nL4N0BK3R6], Indonesian growth holding above 6.0% per annum, that for Philippines coming in above the government target of 5-6% [ID:nIFR7CSN2], while Thailand's economy surged to a record 18.9% y/y in the same period (the very strong Thai GDP growth rate partly reflects flood-related base effects but the improvement last quarter was much better than analyst expectations see [ID:nIFR6X5tKD]). Strong consumption and investment spending have thus far, helped protect the Southeast Asian economies from global woes and growth this year may ride on the coattails of an envisaged gradual global economic recovery, implying a decreasing need for additional policy stimulus. |
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| 22-Feb-2013 14:40 |
Ezion
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Ezion
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Broke $2.00! | ||||
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| 22-Feb-2013 14:26 |
Vard
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STXOSV
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STXOSV $1.555 COME M NEY COME
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| 22-Feb-2013 14:22 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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STI 3400 COME MNEY COME
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| 22-Feb-2013 14:20 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Sti is entering a new era of bull-market. The trigger point is very near. | ||||
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| 22-Feb-2013 14:16 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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German Business Sentiment May Reach Eight-Month High in FebruaryBy Jana Randow - Feb 22, 2013 8:00 AM GMT+0800 German business confidence probably rose to an eight-month high in February, adding to signs that Europe’s largest economy is gathering strength. The Ifo institute’s business climate index, based on a survey of 7,000 executives, will climb to 104.9 from 104.2 in January, according to the median of 38 forecasts in a Bloomberg News survey. That would be the fourth straight gain. Ifo releases the report at 10 a.m. in Munich today. The Bundesbank said this week it expects the economy to return to growth in the current quarter after contracting 0.6 percent in the final three months of last year. Investor confidence jumped to the highest in almost three years in February and the benchmark DAX share indexhas advanced 10 percent in the past three months. “Early indicators signal that the German economy is on a relatively reliable upward trend and that momentum is returning,” said Jens Kramer, an economist at NordLB in Hanover. “We might see respectable growth in the first quarter.” Ifo’s measure of executives’ expectations probably rose to 101.4 from 100.5 in January, while a gauge of the current situation may have increased to 108.5 from 108, the survey shows. Germany’s fourth-quarter contraction was probably caused by a drop in exports and company investment, according to another survey of economists. The Federal Statistics Office in Wiesbaden will publish a detailed breakdown of gross domestic product for the quarter at 8 a.m. today. Euro-Area ContractionWith Italy and Spain, the euro region’s third- and fourth- largest members, mired in recessions, the European Central Bank predicts the 17-nation economy will contract 0.3 percent this year. That compares with a Bundesbank forecast for 0.4 percent growth in Germany. Euro-area services and manufacturing contracted at a faster pace than economists forecast in February, a report from London- based Markit Economics showed yesterday. European Union car sales fell to the lowest level for a January in at least 23 years, the Brussels-based European Automobile Manufacturers’ Association said this week. MAN SE, the commercial-vehicle maker controlled by Germany’s Volkswagen AG, said on Feb. 8 it may slow investments and will work to cut spending as the region’s economic weakness hampers earnings. ‘Remarkable’ ImprovementStill, there are signs that the German economy is strengthening. Factory orders rose 0.8 percent in December, industrial production climbed for the first time in five months and exports rose. Unemployment fell for a second month in January, lowering the jobless rate to 6.8 percent. Germany’s outlook “has improved relatively quickly and in remarkable fashion in the past three months,” the Bundesbank said in its monthly report this week. “For the first quarter of 2013 an expansion of overall economic output can be expected from today’s perspective. For the remainder of the year, a gradual economic recovery is on the cards.” HeidelbergCement AG (HEI), the world’s third-largest maker of cement, on Feb. 7 reported fourth-quarter profit and sales that beat analysts’ estimates. SAP AG (SAP), the biggest maker of business- management software, last month forecast a gain in full-year earnings of at least 12 percent. “Hard data, especially industrial production, will catch up with expectations in the coming months,” said Anatoli Annenkov, senior economist at Societe Generale in London. “I’m confident about a rebound in the first quarter. But the lingering question for thereafter is how weak the development in Italy and Spain will be and how much it will drag down the German economy.” |
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| 22-Feb-2013 11:57 |
Genting Sing
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Genting SP Next Move
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GentingSP (GENS.SI) - Upgrade from Neutral to Buy: The Worst Now Looks Behind Us - BUY - TP $1.80 - CITI | ||||
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| 22-Feb-2013 10:57 |
Genting Sing
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Genting SP Next Move
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Genting Spore trading at a 15% discount to the Macau sector average. Maintain OUTPERFORM Target $1.80 by Credit Suisse | ||||
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| 22-Feb-2013 10:55 |
Genting Sing
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Genting SP Next Move
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Genting Singapore - Earnings on a rebound upgrade to BUY, TP raised to S$1.73 by DBS Vickers | ||||
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| 22-Feb-2013 10:53 |
Genting Sing
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Genting SP Next Move
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Genting Singapore: The VIPs Make A Roaring Comeback Upgrade to Buy TP $1.63 by Maybank-Kim Eng | ||||
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| 22-Feb-2013 10:41 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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God bless Singapore and everyone here. | ||||
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| 22-Feb-2013 10:36 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Singapore's economy is on solid ground as the world economies are also recovering. Singapore is the only Asian country to be rated triple A's. | ||||
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| 22-Feb-2013 10:32 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Singapore GDP Growth Beats Initial Estimate as Asia RecoversBy Sharon Chen - Feb 22, 2013 9:32 AM GMT+0800 Singapore’s economy expanded more than initially estimated last quarter after a smaller contraction in manufacturing, adding to evidence of a recovery in Asia. The island’s currency rose. Gross domestic product rose an annualized 3.3 percent in the three months through December from the previous quarter, when it shrank a revised 4.6 percent, the Trade Ministry said in a statement today. That compares with a January estimate of 1.8 percent and the median in a Bloomberg News survey for a 2 percent expansion. People look out over the central business district skyline in Singapore. GDP expanded 1.5 percent last quarter from a year earlier, today’s report showed. The economy grew 1.3 percent last year, and the trade ministry reiterated its forecast for a 1 percent to 3 percent expansion in 2013. Photographer: Munshi Ahmed/Bloomberg Office workers have lunch at Lau Pa Sat Festival Market in the central business district of Singapore. The island is the third-most expensive Asian city to live in and the sixth globally, according to an Economist Intelligence Unit ranking of 131 cities published this month. Photographer: Munshi Ahmed/Bloomberg “We are seeing an improvement from some of the worst days of last year,” said Kit Wei Zheng, a Singapore-based economist at Citigroup Inc. “The leading indicators seem to point to small but modest, positive growth in 2013.” Recoveries in China and the U.S. have improved the outlook for the region, with economies from Malaysia to Thailand reporting faster GDP growth for last quarter. The Monetary Authority of Singapore, which allowed faster currency gains in 2012 to curb price increases, may maintain its appreciation policy at its April meeting as the island grapples with persistent inflation pressures, according to Bank of America Corp. economist Chua Hak Bin. Better Outlook“We’re still holding on to a 3 percent growth outlook for the full year,” Vincent Conti, a Singapore-based economist at Australia & New Zealand Banking Group Ltd. (ANZ), said before the report. “That’s being driven by a better outlook for the global economy in general, particularly from the U.S. as well asChina.” The Singapore dollar rose 0.2 percent to S$1.2392 against the U.S. currency as of 9:26 a.m. in Singapore. It was little changed before the release. The central bank hasn’t had to take “extraordinary” measures in its money or currency markets as the unintended consequences of monetary policy in other economies are being accommodated by the current exchange-rate system, Edward Robinson, assistant managing director of the economic policy department at the authority, told reporters today. The island’s monetary policy stance remains unchanged as announced in October, he said. The currency’s gains has trailed those of the Thai baht, South Korean won and Philippine peso in the past six months even as monetary easing in developed markets spur inflows to the region. Strong CurrenciesOfficials from South Korea to South America have warned their currencies are too strong, even as nations in the Group of 20 say they’ll refrain from competitive devaluation. New Zealand’s central bank governor said this week he’s ready to intervene in foreign-exchange markets. Singapore guides its exchange rate against a basket of currencies within an undisclosed band and adjusts the pace of appreciation or depreciation by changing the slope, width or center. The Singapore dollar remains within the policy band, Robinson said today. GDP expanded 1.5 percent last quarter from a year earlier, more than the 1.1 percent estimated previously, today’s report showed. The economy grew 1.3 percent last year, up from an initial estimate of 1.2 percent, and the Trade Ministry reiterated its forecast for a 1 percent-to-3 percent expansion in 2013. The government today kept its forecast for non-oil domestic exports to rise 2 percent to 4 percent this year. Receding Risks“While downside risks have receded, the global economic outlook is still clouded with uncertainties,” the Trade Ministry said. “In particular, concerns remain over the extent of the fiscal cutback with the budget sequester in the U.S., as well as the potential flare-up of the debt crisis in the euro zone. Should any of these risks materialize, Singapore’s economic growth could come in lower than expected.” Located at the southern end of the 600-mile (965-kilometer) Malacca Strait and home to one of the world’s busiest container ports, Singapore is grappling with a tight labor market that has helped fuel among the fastest inflation rates in the developed world. Price gains have remained elevated even after the central bank tightened monetary policy last year by allowing its currency to appreciate, as private property prices reached a record and the cost of owning a vehicle surged. Inflation averaged 4.6 percent last year and prices are forecast by the central bank to rise 3.5 percent to 4.5 percent in 2013. The island is the third-most expensive Asian city to live in and the sixth globally, according to an Economist Intelligence Unit ranking of 131 cities published this month. Rare ProtestFinance Minister Tharman Shanmugaratnam will present the nation’s annual budget to Parliament on Feb. 25 where he may announce more measures to reduce the country’s reliance on overseas labor while providing incentives to businesses to boost productivity, economists at Citigroup and Oversea-Chinese Banking Corp. said. Thousands gathered in a rare political protest on Feb. 16, signaling concerns that foreigners are taking jobs from locals and driving up housing costs haven’t abated even after Prime Minister Lee Hsien Loong tightened hiring rules in recent years. “Singapore’s dependent a lot on labor force growth to drive their GDP growth,” said ANZ’s Conti. The increased labor pressure faced by companies could “drive them to shift their production to other countries and that could result in a hollowing out of the manufacturing sector in Singapore,” he said. Manufacturing shrank 1.1 percent from a year earlier in the three months ended Dec. 31, compared with a January estimate of a 1.5 percent contraction. The biomedical industry made up 25.5 percent of manufacturing last year, overtaking electronics at 25 percent. The services industry grew 1.7 percent last quarter from a year earlier, while construction expanded 5.8 percent. |
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| 22-Feb-2013 10:31 |
Midas
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Midas
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Profit guidance scare. Trending towards 0.60 with a mid-term target of 0.85. | ||||
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| 21-Feb-2013 23:34 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Index of U.S. Leading Economic Indicators Rose in January
Feb. 21 (Bloomberg) -- The index of U.S. leading indicators rose for a second month in January, showing the world’s largest economy is on track to sustain the expansion in the first half of this year. The Conference Board’s gauge of the outlook for the next three to six months increased 0.2 percent from a 0.5 percent rise in December, the New York-based group said today. The gain matched the increase projected by economists, according to the median estimate in a Bloomberg survey. Rising stock prices, stronger property values and sustained gains in hiring are boosting economic growth and holding up household balance sheets. Still, higher payroll taxes are trimming Americans’ paychecks while the likelihood of further U.S. budget cutbacks may limit the recovery’s acceleration. “Activity was on the rise in part because of spillover effects from the ongoing housing recovery,” Lou Crandall, chief economist at Wrightson ICAP LLC in Jersey City, New Jersey, said before the report. Crandall is the top-ranked forecaster of the index for the past two years, according to data compiled by Bloomberg. At the same time, “you’ve got a sequence of budget- related concerns hanging over the consumer spending outlook,” he said. The Standard & Poor’s 500 Index fell 0.7 percent to 1,500.89 at 10:05 a.m. in New York, following the release of the leading index and of a separate report showing that manufacturing in the Philadelphia region unexpectedly contracted in February for a second month. Leading Index Estimates from 49 economists in the Bloomberg survey ranged from increases of 0.1 percent to 0.5 percent in the leading index. Six of the 10 indicators in the leading index contributed to the increase, led by stock prices and the interest-rate spread between the federal funds rate and 10-year Treasury notes. “The indicators point to an underlying economy that remains relatively sound but sluggish,” Ken Goldstein, an economist at the Conference Board, said in a statement. “The biggest positive factor is housing.” The Conference Board’s index of coincident indicators, a gauge of current economic activity, rose 0.4 percent in January after a 1 percent gain in the prior month. The coincident index tracks payrolls, incomes, sales and production -- the measures used by the National Bureau of Economic Research to determine the beginning and end of U.S. recessions. Lagging Indicators The gauge of lagging indicators increased 0.4 percent in January after a 0.1 percent rise the previous month. More Americans filed applications for unemployment benefits last week, returning to levels seen prior to the holiday period and indicating little change in the pace of firings, another report showed today. Jobless claims increased by 20,000 to 362,000 in the week ended Feb. 16, the Labor Department reported in Washington. The median forecast of 48 economists surveyed by Bloomberg called for an increase to 355,000. Advances in equity and home values are bolstering the expansion. The S&P 500 index climbed 5 percent in January, its biggest gain for the month since 1997. The S&P/Case-Shiller index of property values in 20 U.S. cities increased 5.5 percent in the year through November, the biggest gain since August 2006, according to data released on Jan. 29. The labor market continued to show signs of strength in January. Employers added 157,000 workers to payrolls in January after a revised 196,000 rise the prior month and a 247,000 surge in November, Labor Department data showed Feb. 1. Revisions added a total of 127,000 jobs in the last two months of 2012. Consumer Spending Consumers may trim their spending as the effects of a smaller paycheck set in. Congress and President Barack Obama allowed the payroll tax to return to its 2010 level of 6.2 percent from 4.2 percent at the start of the year. An American who earns $50,000 is taking home about $83 less a month because of the levy. Additionally, economists are projecting Congress likely won’t find a resolution to prevent automatic spending cuts scheduled to begin March 1, which could further dampen economic growth. The higher probability that sequestration will be realized means U.S. growth in 2013 likely will be about a quarter point slower than previously estimated, Michael Feroli, chief U.S. economist at JPMorgan Chase in New York, said in a Feb. 14 research note. |
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| 21-Feb-2013 21:37 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Agree. Singapore's economy is on solid ground. World economies are also recovering. Singapore is the only Asian country to be rated triple A's.
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| 21-Feb-2013 21:14 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Sti is entering a new era of bull-market. The trigger point is very near. | ||||
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| 21-Feb-2013 20:02 |
Vard
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STXOSV
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Kindly take note:
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| 21-Feb-2013 19:45 |
Ezra
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Ezra
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Technically it presents buying opportunity at current level. It is in fact trending up. With the economy on a better footing expect a turaround year for Ezra. Major catalyst will be inflow of new contracts.
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