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Development charges dip for non-landed residential use

Straits Times – 01 Mar 12 Summary: Charges that developers pay to enhance the use of a plot of land have finally been reduced or left flat for some sectors, as the slowing property market takes its toll (I think it’s more for the luxury prime areas, rather than the rest of Singapore.) The new […]

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MF Global Singapore to be wound down – The Straits Times, 2 Nov 11

 Anxious investors swarm Singapore office Summary: The Singapore operations of a Wall Street brokerage that has collapsed as a result of the European debt crisis are to be wound down. Accountancy giant KPMG has been appointed as the provisional liquidator to oversee the process, the firm MF Global Singapore said last night. Its parent, MF Global, filed […]

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Analysts paint bleak earnings outlook

Earnings per share growth of S’pore listed companies may not even make 6% this year (SINGAPORE) Faced with a small domestic market and a very open economy, Singapore companies are highly susceptible to any global slowdown and are therefore expected to chalk up one of the slowest corporate earnings growths in Asia in 2008. This […]

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When that ‘bargain’ may be an illusion

IN THE thick of the Asian financial crisis, some listed companies were actually trading below their net cash value; in other words, the leftover cash in their bank accounts after paying off all their liabilities was higher than market capitalisation. So theoretically, someone who had the money could have gone into the market and bought […]

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Recent crises serve as wake-up calls

Focus on corporate governance; S’pore updating Companies Act: Lim Hwee Hua (SINGAPORE) Think of the huge fraudulent trading losses at Societe Generale. Or think of the sub-prime mortgage fallout. The recent crises that have rocked the financial sector have also brought corporate governance under the spotlight, Minister of State for Finance and Transport Lim Hwee […]

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TAKING STOCK: Inflation worries hammer STI and regional bourses

NO SOONER does the market show some spark than another bout of bad news clobbers it back down again. Yesterday, it was inflation concerns after oil rose above the US$100 a barrel mark. Red ink flowed from the word go. The Straits Times Index (STI) opened lower and kept spiralling downwards, losing more than 78 […]

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Sales activity surges to 42 disposals, buying falls to 79 purchases

INSIDE MARKETS Fund manager sentiment turns negative, while companies’ buybacks stay sluggish for third straight week THE buying was low while the sales activity by directors and substantial shareholders was high last week, based on filings on the Singapore Exchange from Feb 11 to 15. A total of 26 companies recorded 79 purchases versus 16 […]

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TAKING STOCK: Fresh US recession worries, Dow’s fall drag down STI

PROFIT-TAKING on renewed United States recession fears and Wall Street’s overnight dip delivered a one-two punch to abruptly halt the Singapore bourse’s two-day rally yesterday. A sharp selldown came in the last 30 minutes, as the Straits Times Index (STI) closed 38.66 points lower at 3,038.42, after rising a combined 95 points in the previous […]

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S’pore brokers check clients’ margins, take no chances

Margin calls, forced selling not surprising in current market, say some brokers (SINGAPORE) Veterans of previous crashes say it’s not that bad this time, at least not yet. But broking houses are taking no chances. They are battening down the hatches and checking the credit quality and margins of clients. Some investors are complaining about […]

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Analysts lower estimates after another bleak day

Key resistance levels pitched down as panic selling persists (SINGAPORE) If Monday was the day when fear stalked the markets, then yesterday saw a phase when it took a firmer hold. There was no let-up in the selling frenzy and bourses around Asia bled for the second straight day with the ‘R’ word very much […]

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TAKING STOCK: STI ends bumpy ride just 51 points down

DBS, SingTel and SIA lead recovery in afternoon as rumours of US rate cut spread INVESTORS are grateful for small mercies these days – and they got one yesterday when the local market salvaged some respect after another wild day across the region. The 50.6-point fall in the Straits Times Index (STI) would have been […]

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NEWS ANALYSIS: Panic and fear, not fundamentals, driving sharp market selldown

Widespread selling creating financial violence people hope to avoid, analysts say NEW YORK – THE fear is spreading. For months now, investors have been lured to overseas markets with the promise that surging growth and solid economic fundamentals in Asia and the Middle East would insulate them from the credit squeeze plaguing the United States […]

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STI plunges 6% in worst one-day fall since Oct 1987

Asian markets battered on fears of a US recession and possible writedowns by regional banks   SINGAPORE’S market yesterday suffered its worst one-day fall since the Black Monday crash in October 1987 while other Asian bourses had to go back to the Sept11, 2001, terror attacks for a day as bad as this. The Straits […]

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Lie low till next quarter, Credit Suisse tells investors

THE Singapore stock market will continue its wild swings for the next few months – so keep clear. That was the health warning from Credit Suisse’s head of Asian equity research, Ms Fan Cheuk Wan, who believes the bourse will start to stabilise and head north in the second quarter. She estimates that regional markets […]

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GIC buys a slice of embattled Citigroup

The US$6.88b investment, with limited downside, makes it potentially one of the global bank’s largest shareholders (SINGAPORE) It’s two giant purchases in as many months. The Government of Singapore Investment Corp (GIC) is investing US$6.88 billion in Citigroup through a private offering of convertible preferred securities, it said yesterday. The downside is limited as the […]

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TAKING STOCK: Asian markets poised for further losses

Current decline in S’pore presents buying opportunity, say some brokers ASIAN stock markets look set to run into more turbulence this week after Wall Street’s sharp plunge last Friday. The Dow Jones Industrial Average’s 246-point dive – on fears that American consumers are tightening their belts – is likely to result in a regional knee-jerk […]

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NEWS OF ASSET SALE: Eng Wah shares soar to record high

CINEMA group Eng Wah Organisation’s share price shot up by 16.5 cents to 85 cents – an all-time high – on news that its portfolio of properties was up for sale. The counter went as high as 91 cents during the day. Eng Wah’s properties could be worth as much as $190 million so, based […]

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Inflation fears drag global stock markets down

LONDON – ASIAN and European stocks tumbled yesterday as last week’s strong United States inflation data reduced expectations that the US Federal Reserve would deliver further interest rate cuts soon. Also, in a sign that rising food and agricultural prices may push inflation up globally, US wheat futures surged more than 3 per cent and […]

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Central bankers’ liquidity plan fails to impress Asian investors

China and HK biggest losers in Asia; STI down 2% (SINGAPORE) Investors in Asian stock markets, clearly sceptical that a plan by central banks to inject liquidity into the system to ease sub-prime pressure would work, yesterday braced themselves for an expected Wall Street sell-off by first dumping stocks throughout the region. The losses were […]

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TAKING STOCK: Regional markets make hasty retreat as Fed cut disappoints

REGIONAL investors were as disappointed yesterday as their United States counterparts over the size of the latest US interest rate cut. Bourses in Asia fell across the board following an overnight tumble on Wall Street, where key benchmarks fell over 2 per cent. Investors were unhappy that the Federal Reserve trimmed interest rates only by […]

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INSIDE MARKETS: Sharp rise in sales, buy figures take a plunge

BUYING activity fell while sales by directors and substantial shareholders rose last week based on filings on the Singapore Exchange in the first week of December. A total of 50 firms recorded 143 purchases versus 18 companies with 56 disposals. The buy figures were down from the previous week’s 61 firms and 180 acquisitions while […]

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US sub-prime bailouts help stocks but STI runs into headwinds

IT HAS been bailout week as far as stock markets were concerned but judging by the performance of the past two days, scepticism abounds. First, it was Fed officials dropping blatant hints about cutting interest rates at their Dec 11 meeting, then came the Bush administration’s mortgage-freeze offer to ease the sub-prime pressure. It looks […]

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Bull market still has room to run

Contrarian analysis points to further gains in the near term following the recent stockmarket turmoil DON’T be too upset by the stock market’s recent decline. It may have been painful, but it’s probably just a stumble by a bull market that still has room to run. That, at least, is the message that comes from […]

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MAS WARNING: Credit squeeze, US slump could hit banks

A SHARP slowdown in the United States and an increased aversion to risk in the part of investors spooked by the sub-prime fallout could hurt the profitability of local banks, the Monetary Authority of Singapore (MAS) said yesterday. Volatile financial markets may lead to trading losses, markdowns in collateralised debt obligation assets and lower fee income, […]

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TAKING STOCK: Market ends flat as it awaits US rate cue

LOST: One stock market, last seen striding confidently towards the 3,600- point milestone but now believed to be wandering in the wilderness, awaiting direction from a Dr Bernanke in the United States. The Singapore bourse certainly did not know where it was going yesterday after an early rally – the Straits Times Index (STI) was […]

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Market to stay volatile in weeks ahead: OCBC

Sub-prime fallout still not over; defensive stocks recommended INVESTORS feeling dizzy over the recent market swings may have to face another 6-10 weeks of market volatility, till the actual impact of the US sub-prime fallout becomes clearer. But in the medium to longer term, domestic and regional fundamentals could come into play again and lend […]

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How much should you invest in a stock?

By TEH HOOI LING SENIOR CORRESPONDENT THE science of numbers has developed quite a bit since June 1955, when a new quiz show called The $64,000 Question made its debut on American television. The show was a hit. It captured as much as 85 per cent of the viewing audience and spawned dozens of copycat […]

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Top Stories for Front Page – Market sticks to singing the US sub-prime blues

STI loses 115 points for the week reinforced by rising oil price and weak US$ LOCAL stock market investors must by now have grown tired of hearing about the US sub-prime mortgage market, collateralised debt obligations (CDOs) and what the US Federal Reserve might or might not do on interest rates. Unfortunately, like it or […]

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Reception for IPOs cooling as market sentiment dives

Poor debuts by recent listings fail to dampen plans by at least five firms to go public soon THE investing public’s appetite for new listings has turned sour amid the current stock-market turmoil. But the recent rocky reception for several initial public offerings (IPOs) has not deterred several more firms from making plans to list […]

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TAKING STOCK – Bourses buckle across Asia on US, oil worries

ST Index falls 91 points, marking its fourth slump in five sessions REGIONAL bourses including Singapore suffered a rout yesterday in the face of fresh worries about a slowdown in the United States and record crude oil prices. The Straits Times Index (STI) plunged 91.07 points, or 2.65 per cent, to end at 3,347.20 – […]

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INSIDE MARKETS – Directors and shareholders active; buyback activity surges

THE corporate shareholder activity surged last week with huge numbers posted by directors, substantial shareholders, and listed companies, based on filings on the Singapore Exchange from Nov 12 to 16. The increase in the trading coincided with the 4.4 per cent drop in the Straits Times Index (STI) last week to 3,440.96. Directors and substantial […]

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Even a monkey can get 24% with this investment formula

Investors could beat the S&P 500 just by imitating Warren Buffett’s trades (NEW YORK) Buying whatever billionaire Warren Buffett bought, often months after his share purchases, delivered twice the return of the Standard & Poor’s 500 Index during the past three decades. Investors would have earned an annual return of 24.6 per cent by buying […]

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TAKING STOCK – STI falls on US problems, weak yen; China New Town sinks

SHARE prices tumbled across Asia, as deepening credit woes in the United States and renewed weakness of the greenback against the yen prompted traders to liquidate positions before the weekend. Yet, for all the regional bloodletting, local investors took some solace that the fallout in Singapore was not as severe as in other markets. The […]

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It’s paying off for copycats of Warren Buffett

NEW YORK – BUYING whatever billionaire investment guru Warren Buffett bought, even months after his share purchases, delivered twice the returns of the Standard & Poor’s (S&P) 500 Index during the past three decades. Investors would have earned an annual return of 24.6 per cent by buying the same stocks as Mr Buffett after he […]

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Rosy figures but forex losses, write-downs cloud horizon

Overall profits rise a third to $7.2b despite hiccups at some companies THE profit numbers certainly look good but confidence has been shaken with investors left with more questions than answers.  As of last night, the profits of 258 Singapore-listed companies with third quarters ending on Sept 30 totalled $7.21 billion. This is 32 per […]

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Tactical asset allocation models cut risks

ARJUNA MAHENDRAN examines the use of total return strategies as a way of riding out turbulent stock markets THE stock market boom that started back in 2003 is expected to continue in the medium term. However, an analysis of longer-term market cycles shows that equity investors must brace themselves for more volatility in the short term. […]

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MONEY MATTERS – Never react to market chatter

Investors tempted to flee the US stock market, given the bad news coming out of America, might do well to reconsider THERE has been no dearth of sensational headlines relating to the financial world in the media over the past few weeks. Oil prices are fast approaching US$100 per barrel. Financial institutions are taking accounting […]

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Fears of bigger sub-prime losses spook markets

Asian stocks take a beating, with Singapore’s STI sliding a hefty 2.5% (SINGAPORE) Stock markets around the region were again mauled yesterday in a widely expected retreat after share indices in the United States ended sharply lower on Friday. The sell-offs on Wall Street last week and those around Asia yesterday were triggered by fears […]

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Sub-prime woes continue to hold sway

ST Index hits two-month low after 2.5 per cent fall, in line with Hang Seng Index AS EXPECTED, the local stock market was unhinged yesterday by Wall Street’s continuing fears over the impact the sub- prime crisis might have on its earnings and the US economy, fears which have now rendered the two interest rate […]

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WARRANT WATCH – Turbulent market puts spotlight on STI contracts

THE choppy market conditions and the recent correction in the Singapore bourse have drawn investors’ attention to warrants of the Straits Times Index (STI). The STI has been plagued by soaring crude oil prices, a weaker US dollar and lingering fears about the American sub-prime problem. These factors combined to lower the STI by 73.34 […]

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INSIDE MARKETS – More sales deals than buys for the first time in 19 weeks

Bearish sentiment prevails with 17 firms recording 73 disposals last week BUYING activity plunged while sales by directors and substantial shareholders remained constant last week based on filings to the Singapore Exchange from Oct 29 to Nov 2. The sentiment was bearish as sellers recorded more trades than buyers for the first time in the […]

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Property shares take a beating

Developers with inventory in prime districts may face pricing pressure PROPERTY analysts were still busy yesterday predicting how the market will be affected by the end of the deferred payment scheme (DPS) as property shares received their expected drubbing when trading opened. A report by OCBC Investment Research forecast tough times for the residential sector […]

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Q4 distributable income for Suntec Reit up 22%

SUNTEC Reit has reported fourth-quarter income available for distribution of $30.4 million, an increase of 22.2 per cent from $24.8 million a year ago. For the same July 1-Sept 30 period, Suntec Reit recorded gross revenue of $51.1 million, an increase of 13.7 per cent year-on-year. Net property income was up 12 per cent up […]

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WALL STREET INSIGHT – Analysts dismiss spectre of crash, but selling’s not over

Last week’s 4% slide due more to recent sharp run-up than to fear of another crisis IN NEW YORK AS STOCKS plummeted on earnings outlooks and renewed credit worries last Friday on the 20th anniversary of Black Monday, Wall Street forecasters couldn’t help but draw parallels to that record-setting dire day of October 19, 1987, […]

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MONEY MATTERS – Yes, sub-primes still offer an investment opportunity

And this is despite the matter having morphed into a more general credit crunch problem By JOSEPH CHONG I RECEIVED a few queries from readers of my last article in BT (‘Deciphering the message of the markets’, Aug 1), which discussed, among other things, the origins of the recent sharp market retrenchment. There were two […]

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INSIDE MARKETS – Buy and sell transactions hit low levels; fund managers quiet

PURCHASES by directors and substantial shareholders was low for a second straight week with only 34 companies posting 72 ‘buys’, based on filings on the Singapore Exchange from Sept 17 to 21. The figures were consistent with the previous week’s 35 companies and 72 acquisitions. Investors should note that the buying has been low in […]

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Asian stocks surge on Wall St gains

S’pore market scores 3.4% rise, led by banks and property stocks (SINGAPORE) Asian stocks surged yesterday in tandem with Wall Street, following Tuesday’s move by the US Federal Reserve to slash its funds rate 50 basis points from 5.25 to 4.75 per cent. Japan’s Nikkei 225 and Hong Kong’s Hang Seng Index led the way, […]

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Fed’s aggressive rate cut sparks global markets

A BIGGER-THAN-EXPECTED interest rate cut by the United States central bank sent global bourses sprinting ahead yesterday. The half-percentage point cut by the US Federal Reserve was double the quarter-percentage point cut that most analysts expected – and immediately caused a surge in US stocks. Last night, the optimism continued on Wall Street, with the […]

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INSIDE MARKETS – Sellers outweigh buyers in bearish trading

Asean China Investment Fund was one of the top sellers as it lowered its stakes in Unionmet and SunVic Chemical, writes ROBERT HALILI BEARISH clouds are looming as the trading environment turned negative last week. In all, 28 companies saw 100 director and substantial shareholder disposals while 35 firms had 72 acquisitions. The number of […]

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PLAY OF THE WEEK – CDL attracts heavy buying after clinching iconic site

CLINCHING the historic Beach Road military camp site helped ignite fresh buying interest in property giant City Developments (CDL). The site, which cost the CDL-led consortium $1.69 billion, is just a stone’s throw from the upcoming Marina Bay Sands integrated resort and the Formula One street circuit. Observers believe the acquisition will enhance CDL’s already […]

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Lessons from a blow-up

SHANE OLIVER goes back to the scene of the crime and uncovers the damning caveats THE last month or so has seen big swings in markets on the back of the turmoil in credit markets. By and large though, most investors should have come through reasonably unscathed. However, some would not have been so lucky. […]

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Happy investing

Investors need to look within themselves to determine their life goals, before embarking on the road to financial contentment, financial planner Arun Abey tells GENEVIEVE CUA WHAT does happiness have to do with financial planning? Some may say happiness is the fruit of a well-laid financial plan. After all all, such a plan should foster […]

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WARRANT WATCH – Investors load up on property contracts

THE turmoil which has engulfed financial markets globally has hardly dented investor enthusiasm in Singapore’s red-hot property market. The swift recovery of property giants such as City Developments (CDL) and CapitaLand after a region-wide selloff two weeks ago suggests that the Singapore equities market has decoupled itself from the volatility on Wall Street. Yesterday, covered […]

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Company directors snap up shares after market correction

They see good value and investors consider support to be positive sign PANIC was the last thing on the minds of many company founders and directors when Singapore share prices slumped in spectacular fashion just over a week ago. Instead, they have leapt into the fray, buying up their own stock at bargain-basement prices since […]

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