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06 January 2015
Singapore Morning Note
Weekly Market Outlook Webinar
Register HERE for Monday’s 11.15am webinar if you have not already done so.
Our webinars are an opportunity for clients, remisiers, and sales staff, to ask questions on our coverage and the market's direction.
We hope to have as many of you as possible.
Archived Webinar videos can be accessed via UniPhillip website - http://www.uniphillip.com/=> Education Programs => Phillip
Securities Research Webinars
In this week’s archived webinar, we featured an update on global macro as well as technical market analysis.
Source: Phillip Securities Research Pte Ltd
Company Highlights
Dragon Group International Limited has proposed to acquire a 30% stake in Heat Tech Japan Co., Ltd (HTJ) for S$6 million, of which
S$2 million will be paid in cash and the remainder satisfied with an issuance of 40 million new company shares at S$0.10 piece to
HTJ. HTJ has developed intellectual property in the field of heat dissipating materials, which holds the potential to be
commercialized with further R&D work and marketing efforts. If successful, HTJ may be in a position to generate revenue and
potentially, profits for the firm.
Ntegrator International Ltd (Ntegrator) has secured new contracts worth S$14.5 million from repeat customers. The contracts
involve the supply of a batch of high-performance batteries to Viettel Global Investment Joint Stock Company, the upgrading of a
carrier ethernet network for M1 Limited and the installation of a fibre cable for Sino Huawei Technologies Pte Ltd. The contracts are
expected to contribute to Ntegrator’s FY15/16 financial performance.
Manufacturing Integrated Technology Ltd (MIT) has inked a contract worth S$10.5 million to deliver two lines of building
integrated photovoltaics manufacturing equipment to an existing customer in China. The win lifts MIT’s outstanding order book in
2015 to S$42 million. This is the firm’s single largest order for solar equipment since its foray into the business in 2009.
Ocean Sky International Limited (OSI) has entered into a non-binding memorandum of understanding to acquire Link (THM)
Holdings Pte. Ltd. (Link) for S$226.2 million in a reverse takeover deal. Link is engaged in the development of luxury landed
residential, integrated mixed development, commercial and industrial property projects. In its pipeline, Link has an integrated
mixed development project in the Iskandar Development Region of Malaysia, One World Medini, with an aggregate gross floor area
of about 444,703 square metres. It also has an investment property portfolio comprising of a number of commercial and industrial
properties located in the prime business district of Singapore. In relation to the proposed acquisition, OSI intends to consolidate its
existing shares in a two-for-one ratio. Thereafter, 642,750,000 new consolidated shares will be issued at an indicative issue price of
S$0.352 per share to satisfy the purchase. Following the proposed issuance, the sellers and arranger would own about 74.1% of the
enlarged issued share capital.
SEAONICS, a subsidiary of Vard Holdings Limited, has secured its largest-to-date contract worth in excess of NOK100 million to
provide a complete equipment package of winches, deck cranes, and overboarding systems including A-frames and launch and
recovery systems for a polar research vessel currently under construction.
Source: SGX Masnet, The Business Times, Phillip Securities Research
Page | 1
MCI (P) 021/11/2014
Ref. No.: SGMN2015_0003
06 January 2015
Morning Commentary
STI
JCI
HSI
Nifty
NIKKEI
Stoxx 50
-1.26%
-0.43%
-0.57%
-0.20%
-0.24%
-3.70%
to
to
to
to
to
to
3,328.3
5,220.0
23,721.3
8,378.4
17,408.7
3,023.1
KLCI
SET
HSCEI
ASX200
S&P 500
-0.92%
-0.96%
-0.32%
-1.75%
-1.83%
to
to
to
to
to
1,736.6
1,483.3
12,206.7
3,462.4
2,020.6
SINGAPORE:
 The Straits Times Index (STI) ended -42.31 points lower or -1.26% to 3328.28, taking the year-to-date performance to 1.10%.
 The FTSE ST Mid Cap Index declined -0.08% while the FTSE ST Small Cap Index gained +0.19%. The top active stocks were
DBS (-2.24%), UOB (-2.24%), SingTel (-0.26%), CapitaLand (-1.21%) and Keppel Corp (-1.92%).
 The outperforming sectors today were represented by the FTSE ST Basic Materials Index (+1.56%). The two biggest stocks
of the FTSE ST Basic Materials Index are Midas Holdings (+3.23%) and Geo Energy Resources (unchanged). The
underperforming sector was the FTSE ST Oil & Gas Index, which declined -1.84% with Keppel Corp’s share price declining 1.92% and Sembcorp Industries’s share price declining -3.14%.
SECTOR/STRATEGY REPORTS:
- Sector Reports : Banking, 19 Dec / Telecommunications, 15 Dec / Property, 8 Dec / Transport, 18 Nov / US Oil & Gas, 9 July /
Offshore & Marine, 7 April / Commodities, 21 Mar
- Country Strategy : China & HK, 2 Jan / Thai, 12 Dec / For SG Strategy, Please see Webinar
Source: Phillip Securities Research Pte Ltd, SGX, Masnet
Macro Data
Japan
Japanese manufacturing activity showed sustained growth in December, a survey showed on Monday, suggesting domestic demand
continues to recover after the economy fell into a surprise recession last year. The final Markit/JMMA Japan Manufacturing
Purchasing Managers Index (PMI) came in at 52.0 in December, slightly less than a preliminary reading of 52.1 and unchanged from
the final reading in November. It remained above the 50 threshold that separates contraction from expansion for the 7th
consecutive month.
Among the individual components of the survey, production and new orders expanded at a steady pace. The output component of
the PMI index was 52.5, less than a preliminary reading of 53.3 and slightly below November's 52.7. New export orders rose for a
6th straight month but at a slightly slower pace than in November. Meanwhile, there was also stronger improvement in staffing
numbers. Input price inflation reached an 11-month high.
Thailand
Thailand's inflation eased to the lowest since late 2009, figures from the Ministry of Commerce showed Monday. The headline
consumer price index (CPI) edged up 0.6% on-year earlier in December, slowing from November's 1.26% increase. On a month-onmonth basis, inflation fell to 0.5%, after a 0.12% drop seen in the prior month. It was also the 7th consecutive month of decline,
largely due to falling energy and food prices.
Core consumer prices, which excludes raw food and energy, rose 1.69% on-year, slightly up from a 1.6% increase in November. The
figure was the highest in three months. December's core CPI was up 0.18% from November, after a 0.11% on-month rise in
November.
The latest CPI data showed Thailand's disinflation continued to pick up pace. Somkiat Triratpan, inspector-general of the Commerce
Ministry, said that falling global oil prices and the military-appointed government's energy restructuring plan were the reasons
behind the slower-than-expected rise in consumer prices.
In 2014, the country's headline inflation increased 1.89% - a figure much lower than the ministry's projection of 2.0-2.8% - while
core inflation rose 1.59%.
The Commerce Ministry estimated Thailand's annual headline inflation to range between 1.8% and 2.5% in 2015. While the Bank of
Thailand aims to keep core inflation in a range of 0.5-3.0%, and sets policy to achieve that - but it wants to switch to targeting
headline inflation.
Source: Phillip Securities Research Pte Ltd
Page | 2
06 January 2015
Macro Data (cont.)
Singapore
Singapore's manufacturing activity fell in December to its lowest level in nearly two years due to a first-time contraction in new
orders and a slower growth in export orders, a survey showed on Monday. The Singapore Institute of Purchasing & Materials
Management's (SIPMM) Purchasing Managers' index (PMI) came in at 49.6 points in December - a hefty decline of 2.2 points from
November, marking its lowest level since February 2013 and the first contraction since August 2014.
Singapore said last week its economic growth slowed more than expected in the fourth quarter as manufacturing contracted in the
face of erratic global demand, raising concerns about the outlook for 2015. Export order growth has also decelerated sharply in
Japan, Vietnam and Taiwan with a continued contraction in South Korea.
Meanwhile, the corresponding index for the electronics sector posted its 23rd straight month of expansion despite having
struggling against regional peers such as South Korea and Taiwan. The index stood at 50.5, a marginal dip from the previous
month's reading of 50.6.
A reading above 50 indicates expansion, while a reading below 50 suggests contraction.
Source: Phillip Securities Research Pte Ltd
Page | 3
06 January 2015
Phillip Securities Research - Singapore Stocks Coverage
Company
Consumer Goods
DEL MONTE PACIFIC LTD
OSIM INTERNATIONAL LTD
Banking & Finance
DBS GROUP HOLDINGS LTD
OVERSEA-CHINESE BANKING CORP
SINGAPORE EXCHANGE LTD
UNITED OVERSEAS BANK LTD
Healthcare
RAFFLES MEDICAL GROUP LTD
Property
AMARA HOLDINGS LTD
CITY DEVELOPMENTS LTD
GLOBAL LOGISTIC PROPERTIES L
HO BEE LAND LTD
OUE LTD
SINARMAS LAND LTD
CHIP ENG SENG CORP LTD
Property (Trusts)
CROESUS RETAIL TRUST
Industrials
BOUSTEAD SINGAPORE LTD
PAN-UNITED CORP LTD
SARINE TECHNOLOGIES LTD
800 SUPER HOLDINGS LTD
CIVMEC LTD
COGENT HOLDINGS LTD
Offshore & Marine
EZION HOLDINGS LTD
EZRA HOLDINGS LTD
KEPPEL CORP LTD
SEMBCORP MARINE LTD
KIM HENG OFFSHORE & MARINE H
TRIYARDS HOLDINGS LTD
Transport
COMFORTDELGRO CORP LTD
SMRT CORP LTD
SATS LTD
SIA ENGINEERING CO LTD
Technology & Communications
M1 LTD
LANTROVISION SINGAPORE LTD
SILVERLAKE AXIS LTD
SINGAPORE TELECOMMUNICATIONS
STARHUB LTD
VALUETRONICS HOLDINGS LTD
SINGAPORE POST LTD
Analyst
Date of Last
Report
Rating
Target Price
(S$)
Current
Price
Price Change since Potential Return
Last Report
at Current Price
Colin Tan
Caroline Tay
16-Sep-14 Accumulate
29-Oct-14 Accumulate
0.605
2.69
0.505
1.90
-3.8%
-15.6%
19.8%
41.6%
Benjamin Ong
Benjamin Ong
Benjamin Ong
Benjamin Ong
31-Oct-14
31-Oct-14
23-Oct-14
31-Oct-14
21.60
11.00
7.30
25.40
20.04
10.35
7.70
23.96
8.4%
6.8%
12.2%
6.7%
7.8%
6.3%
-5.2%
6.0%
Colin Tan
31-Oct-14 Neutral
3.90
3.93
2.6%
-0.8%
Caroline Tay
Change of Analyst
Caroline Tay
Caroline Tay
Caroline Tay
Caroline Tay
Wong Yong Kai
13-Nov-14
15-Aug-14
5-Nov-14
14-Nov-14
7-Nov-14
13-Nov-14
12-Aug-14
0.700
11.26
3.03
2.33
2.52
0.960
1.030
0.520
10.09
2.49
1.97
2.07
0.590
0.855
0.0%
3.2%
-7.4%
-0.5%
-2.8%
-2.5%
3.0%
34.6%
11.6%
21.7%
18.3%
21.7%
62.7%
20.5%
Change of Analyst
29-Aug-14 Buy
1.150
0.920
-8.0%
25.0%
Joshua Tan
Joshua Tan
Benjamin Ong
Richard Leow
Kenneth Koh
Richard Leow
12-Nov-14
13-Nov-14
11-Nov-14
30-Oct-14
14-Nov-14
12-Dec-14
Buy
Neutral
Accumulate
Trading Buy
Neutral
Buy
2.40
0.950
3.27
0.670
0.690
0.47
1.80
0.830
2.50
0.475
0.680
0.35
-3.0%
-5.7%
-19.4%
-1.0%
-6.8%
-5.4%
33.7%
14.5%
30.8%
41.1%
1.5%
34.3%
Change of Analyst
Change of Analyst
Change of Analyst
Change of Analyst
Benjamin Ong
Bakhteyar Osama
4-Aug-14
14-Apr-14
17-Apr-14
5-May-14
7-Nov-14
1-Dec-14
Accumulate
Neutral
Neutral
Reduce
Buy
Buy
2.67
1.090
11.35
3.70
0.230
0.980
1.140
0.535
8.69
3.25
0.167
0.510
-46.7%
-50.0%
-22.3%
20.0%
-12.1%
-21.5%
134.2%
103.7%
30.6%
-13.8%
37.7%
92.2%
Richard Leow
Richard Leow
Richard Leow
Richard Leow
14-Nov-14
3-Nov-14
14-Nov-14
6-Nov-14
Accumulate
Reduce
Neutral
Reduce
2.85
1.370
2.88
3.95
2.60
1.590
3.00
4.11
-0.8%
-6.7%
-1.0%
8.3%
9.6%
13.8%
-4.0%
3.9%
Colin Tan
Colin Tan
Colin Tan
Colin Tan
Colin Tan
Kenneth Koh
Colin Tan
17-Oct-14
13-Nov-14
12-Nov-14
13-Nov-14
6-Nov-14
7-Nov-14
4-Dec-14
Buy
Buy
Neutral
Accumulate
Neutral
Buy
Accumulate
3.95
0.720
1.320
4.12
4.25
0.495
2.030
3.64
0.57
1.265
3.88
4.13
0.345
1.905
5.8%
9.6%
-5.2%
-0.5%
-1.2%
1.5%
-0.5%
8.5%
26.3%
4.3%
6.2%
2.9%
43.5%
6.6%
Target Price
(US$)
13.59
12.57
49.13
38.06
79.13
6.88
Current
Price
12.21
8.23
33.53
28.57
70.62
4.20
Buy
Accumulate
Accumulate
Accumulate
Buy
Accumulate
Accumulate
Accumulate
Accumulate
Buy
Trading Buy
Phillip Securities Research - US Stocks Coverage
Company
Analyst
FNFV GROUP
Wong Yong Kai
GENWORTH FINANCIAL INC-CL A
Wong Yong Kai
ICONIX BRAND GROUP INC
Wong Yong Kai
NATIONAL INTERSTATE CORP
Wong Yong Kai
OUTERWALL INC
Wong Yong Kai
PERION NETWORK LTD
Wong Yong Kai
Source: Phillip Securities Research Pte Ltd
* FNFV Group TP adjusted for Remy Intl dividend
Date of Last
Report
31-Oct-14
7-Nov-14
14-Nov-14
29-Oct-14
31-Oct-14
12-Dec-14
Rating
Trading Buy
Trading Buy
Trading Buy
Trading Buy
Trading Buy
Trading Buy
Price Change since Potential Return
Last Report
at Current Price
19.8%
11.3%
-5.0%
52.7%
-11.5%
46.5%
2.1%
33.2%
24.8%
12.1%
-9.5%
63.8%
Page | 4
06 January 2015
STI - Index Members
0.0%
0.3%
1%
0.4%
0.5%
1%
0%
-2.4%
-2.2%
-2.2%
-2.1%
-2.0%
-3%
-1.9%
-1.7%
-1.4%
-1.4%
-1.4%
-2%
-1.4%
-1.2%
-1.2%
-1.2%
-2%
-0.8%
-0.8%
-0.8%
-0.7%
-0.7%
-0.6%
-0.6%
-0.5%
-1%
-0.5%
-0.3%
-1%
-3%
Golden Agri-R.
-3.3%
Jardine C&C
UOB
DBS
Thai Beverage
CDL
Keppel Corp. Ltd
Noble Group
Hutchison Port
OCBC
SPH
Genting SP
Wilmar
Sembcorp Mar.
Capitaland
GLP
Jardine Mat.
ComfortDelGro
HK Land
SIA Eng.
Jardine Stra.
ST Eng.
SGX
Starhub
Singtel
Olam
SIA
Ascendas REIT
Capitamall Trust
Sembcorp Ind.
-3.1%
-4%
Source: Bloomberg
FTSE ST Breakdown (% Change)
ST Technology
ST China
1.7%
-6.0%
ST Real Estate
ST Financials
2.9%
5.3%
ST Re Invest Trust
ST Utilites
1.8%
3.7%
STI 2.3%
ST Telecommunicate
2.7%
ST Oil & Gas
-18.7%
ST Basic Materials
ST Consumer Service
1.8%
-7.4%
ST Healthcare
-6.2%
FTSE ST Market Cap. Breakdown (3M % Change)
ST Al l Share
ST Sma l l Ca p
-5.8%
1.2%
STI
-1.0%
Source: Bloomberg
ST Consumer Goods
-5.0%
0.2%
Top Gainers (%)
CHINA MERCHANTS PROPERTY D-B
CHINA ENVIRONMENT LTD
CHINA NEW TOWN DEVELOPMENT
TRITECH GROUP LIMITED
ISDN HOLDINGS LTD
Top Losers (%)
DECLOUT LTD
ENVIRO-HUB HOLDINGS LTD
OSSIA INTERNATIONAL LTD
TIONG SENG HOLDINGS LTD
OTTO MARINE LTD
2.3%
ST Mid Cap
ST Industrials
ST Fl edgl i ng
-4.8%
Last
15.000
0.190
0.062
0.172
0.265
% Chg
25.0
24.2
14.8
14.7
10.4
Last
0.235
0.060
0.225
0.167
0.046
% Chg
-11.3
-9.1
-8.2
-6.2
-6.1
Source: Bloomberg
Turnover ('mn shares)
Turnover (S$'mn)
UP
DOWN
UNCHANGED
1,258
845
165
257
516
Source: SGX
Page | 5
06 January 2015
340
320
300
280
260
240
220
200
94
92
90
88
86
84
82
80
78
76
Dec-14
Nov-14
Oct-14
Sep-14
Aug-14
Jul-14
Jun-14
May-14
Apr-14
Mar-14
Dec-14
Nov-14
Oct-14
Sep-14
Aug-14
Jul-14
Jun-14
May-14
Apr-14
Mar-14
Feb-14
-1.26%
3,328.28
Dec-14
Nov-14
Oct-14
Sep-14
Aug-14
Jul-14
Jun-14
May-14
Apr-14
Mar-14
Dec-14
Nov-14
Oct-14
Sep-14
Aug-14
Jul-14
Jun-14
May-14
Apr-14
Mar-14
Feb-14
Jan-14
16,000
Jan-14
18,000
Feb-14
Dec-14
Nov-14
Oct-14
Sep-14
Aug-14
Jul-14
Jun-14
May-14
Apr-14
Mar-14
Feb-14
20,000
Feb-14
3,600
3,400
3,200
3,000
2,800
2,600
620
600
580
560
540
520
500
480
460
440
420
-0.24%
Nikkei 225 Index
Jan-14
22,000
Jan-15
Dec-14
Nov-14
Oct-14
Sep-14
Aug-14
Jul-14
Jun-14
May-14
Apr-14
Mar-14
Feb-14
Jan-14
24,000
Jan-14
Dec-14
Nov-14
1,100
Dec-14
Nov-14
Oct-14
Sep-14
Aug-14
Jul-14
Jun-14
May-14
Apr-14
Mar-14
Feb-14
Jan-14
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14
Oct-14
Nov-14
Dec-14
20,000
18,000
16,000
14,000
12,000
10,000
8,000
6,000
26,000
Jan-14
Dec-14
Nov-14
Oct-14
1,400
17,408.71
-0.57%
23,721.32
Hang Seng Index
Oct-14
1,700
Straits Times Index
-0.89%
561.63
MSCI Asia x-Japan
Sep-14
Aug-14
Jul-14
Jun-14
May-14
Apr-14
Mar-14
Feb-14
Jan-14
19,000
18,000
17,000
16,000
15,000
14,000
13,000
12,000
2,000
-1.86%
17,501.65
DJI
-0.01%
1,204.83
Gold (US$/Oz)
Sep-14
Aug-14
Jul-14
Jun-14
May-14
Apr-14
Mar-14
Feb-14
Jan-14
3.20
3.00
2.80
2.60
2.40
2.20
2.00
1.80
1.60
1.40
1.20
120
110
100
90
80
70
60
50
-0.08%
2.032
US Treasury 10yr Yield
+0.07%
56.42
Crude oil, Brent (US$/bbl)
-0.74%
226.73
TR/CC CRB ER Index
+0.33%
91.38
Dollar Index
Source: Bloomberg
Page | 6
06 January 2015
ETF Performance
ETF
ABF SINGAPORE BOND INDX FUND
CIMB FTSE ASEAN 40
DBX CSI 300
DB X-TRACKERS FTSE CHINA 50
DBX FTSE VIETNAM
DBX MSCI EUROPE (DR)
DBX MSCI INDONESIA
DBX MSCI JAPAN
DB X-TRACKERS MSCI TAIWAN IN
DB X-TRACKERS MSCI WORLD TRN
DBX S&P 500
DBX S&P500 INVERSE
DBX CNX NIFTY
DBX S&P/ASX 200 (DR)
DBX EURO STX 50 (DR)
ISHARES MSCI INDIA INDEX ETF
LYXOR UCITS ETF CHINA ENTER
LYXOR ETF COMMODITIES THOMSO
LYXOR UCITS ETF HANG SENG IN
LYXOR ETF JAPAN TOPIX
LYXOR UCITS ETF ASIA EX JP
LYXOR ETF MSCI EMER MKTS-B
LYXOR ETF MSCI EUROPE-B
LYXOR ETF MSCI INDIA
LYXOR ETF MSCI KOREA-USD B
LYXOR ETF MSCI TAIWAN
LYXOR ETF MSCI WORLD-E
NIKKO AM SINGAPORE STI ETF
SPDR GOLD SHARES
SPDR STRAITS TIMES INDEX ETF
UNITED SSE 50 CHINA ETF
Source: Bloomberg
% Change
Change
Last
-0.60
-1.74
+1.49
-0.21
-0.96
-0.81
-1.47
-1.07
-0.61
-0.44
-0.69
+0.72
+0.25
-0.70
-0.90
-0.27
+0.06
-0.47
-0.34
-1.47
-0.80
-1.11
-0.85
-0.36
-1.01
-1.39
-0.47
-0.88
+0.75
-1.17
+5.00
-0.01
-0.18
+0.15
-0.07
-0.26
-0.45
-0.21
-0.48
-0.13
-0.02
-0.24
+0.16
+0.34
-0.26
-0.43
-0.02
+0.01
-0.01
-0.01
-0.02
-0.04
-0.11
-0.12
-0.06
-0.05
-0.02
-0.01
-0.03
+0.85
-0.04
+0.11
1.14
10.51
6.30
27.18
26.87
62.41
14.16
43.85
20.44
4.38
31.10
25.23
113.73
41.40
53.94
6.47
13.02
2.87
2.77
1.15
4.94
10.26
16.14
14.24
5.61
1.09
1.71
3.34
126.52
3.27
1.43
Corporate Action: Dividend
EX Date
Company
1/8/2015
SECOND CHANCE PROPERTIES LTD
1/8/2015
MFS TECHNOLOGY LTD
2/3/2015
FRASER AND NEAVE LTD
2/3/2015
FRASERS CENTREPOINT LTD
2/3/2015
MERMAID MARITIME PCL
3/27/2015
MURATA MANUFACTURING CO LTD
3/27/2015
NOMURA HOLDINGS INC
3/27/2015
MARUWA CO LTD
Source: Bloomberg
Type
Final
Interim
Final
Final
Regular Cash
Final
Final
Final
Net Amount
0.0150
0.0650
0.0300
0.0620
0.0047
80.0000
N.A.
18.0000
Type
Rights Issue
Rights Issue
Preferred Right
Subscription Price
0.1500
0.3800
0.0150
Currency
SGD
SGD
SGD
SGD
USD
JPY
JPY
JPY
Frequency
Semi-Anl
Irreg
Semi-Anl
Semi-Anl
Annual
Semi-Anl
Semi-Anl
Semi-Anl
Record Date
1/12/2015
1/12/2015
2/5/2015
2/5/2015
2/5/2015
3/31/2015
3/31/2015
3/31/2015
Payout Date
1/21/2015
1/22/2015
2/16/2015
2/16/2015
2/23/2015
N.A.
N.A.
N.A.
Corporate Action: Rights
EX Date
1/6/2015
1/12/2015
1/21/2015
Company
SWIBER HOLDINGS LTD
YOMA STRATEGIC HLDGS LTD
JOYAS INTERNATIONAL HLDGS LT
Currency
SGD
SGD
SGD
Term
1 per 2
1 per 3
1 per 1
Record Date
1/8/2015
1/14/2015
1/23/2015
Source: Bloomberg
Page | 7
06 January 2015
Economic Announcement
US
Singapore
Date
1/6/2015
1/6/2015
1/6/2015
1/6/2015
1/7/2015
1/7/2015
1/7/2015
1/8/2015
1/8/2015
1/8/2015
1/8/2015
1/8/2015
Statistic
Markit US Composite PMI
Markit US Services PMI
Factory Orders
ISM Non-Manf. Composite
MBA Mortgage Applications
ADP Employment Change
Trade Balance
Fed Releases Minutes from Its
Challenger Job Cuts YoY
Initial Jobless Claims
Continuing Claims
Bloomberg Consumer Comfort
1/9/2015 Consumer Credit
1/9/2015 Change in Nonfarm Payrolls
1/9/2015 Two-Month Payroll Net Revision
Source: Bloomberg
For
Survey
Prior
Dec F
Dec F
Nov
Dec
2-Jan
Dec
Nov
-53.7
-0.40%
58
-225K
-$42.0B
53.8
53.6
-0.70%
59.3
0.90%
208K
-$43.4B
Dec
3-Jan
27-Dec
4-Jan
Nov
Dec
Dec
-290K
2360K
-$15.000B
240K
--
-20.70%
298K
2353K
42.7
$13.226B
321K
--
Date
1/7/2015
1/7/2015
1/7/2015
1/7/2015
1/15/2015
1/15/2015
1/15/2015
1/16/2015
1/16/2015
1/16/2015
1/21/2015
1/21/2015
Statistic
Automobile COE Open Bid Cat A
Automobile COE Open Bid Cat B
Automobile COE Open Bid Cat E
Foreign Reserves
Retail Sales Ex Auto YoY
Retail Sales YoY
Retail Sales SA MoM
Electronic Exports YoY
Non-oil Domestic Exports YoY
Non-oil Domestic Exports SA
Automobile COE Open Bid Cat A
Automobile COE Open Bid Cat B
1/21/2015 Automobile COE Open Bid Cat E
1/23/2015 CPI NSA MoM
1/23/2015 CPI YoY
For
Survey
Prior
7-Jan
7-Jan
7-Jan
Dec
Nov
Nov
Nov
Dec
Dec
Dec
21-Jan
21-Jan
21-Jan
Dec
Dec
----------------
65889
74000
73990
$260.55B
1.90%
8.10%
-1.30%
-10.20%
1.60%
2.90%
---0.30%
-0.30%
Source: Bloomberg
Page | 8
06 January 2015
Calendar
Earnings Announcement - Singapore
Name
Asiatravel.com Holdings Ltd
Xpress Holdings Ltd
EMAS Offshore Ltd
MS Holdings Ltd
Triyards Holdings Ltd
TEE International Ltd
Ezra Holdings Ltd
Qian Hu Corp Ltd
Lian Beng Group Ltd
Cheung Woh Technologies Ltd
Duty Free International Ltd
Singapore Press Holdings Ltd
Miyoshi Precision Ltd
GKE Corp Ltd
TEE Land Ltd
Versalink Holdings Ltd
Yoma Strategic Holdings Ltd
Cambridge Industrial Trust
Ascendas Real Estate Investment Trust
GuocoLeisure Ltd
First Real Estate Investment Trust
Mapletree Industrial Trust
M1 Ltd/Singapore
Keppel REIT
Keppel Infrastructure Trust
Mapletree Logistics Trust
Mapletree Commercial Trust
Jaya Holdings Ltd
Ascott Residence Trust
Frasers Centrepoint Trust
Cache Logistics Trust
Keppel Telecommunications & Transportation Ltd
Singapore Exchange Ltd
CapitaMall Trust
Keppel Land Ltd
Frasers Commercial Trust
Sabana Shari'ah Compliant Industrial Real Estate Investment Trust
CapitaCommercial Trust
Keppel Corp Ltd
Suntec Real Estate Investment Trust
Tiger Airways Holdings Ltd
Ascendas India Trust
Mapletree Greater China Commercial Trust
Fortune Real Estate Investment Trust
Starhill Global REIT
GuocoLand Ltd
Parkway Life Real Estate Investment Trust
Technics Oil & Gas Ltd
Mercator Lines Singapore Ltd
Micro-Mechanics Holdings Ltd
Source: Bloomberg
Expected Report Date
1/6/2015
1/6/2015
1/7/2015
1/7/2015
1/9/2015
1/9/2015
1/9/2015
1/9/2015
1/13/2015
1/13/2015
1/13/2015
1/13/2015
1/14/2015
1/14/2015
1/15/2015
1/15/2015
1/16/2015
1/16/2015
1/16/2015
1/16/2015
1/16/2015
1/20/2015
1/20/2015
1/20/2015
1/20/2015
1/20/2015
1/21/2015
1/21/2015
1/21/2015
1/21/2015
1/21/2015
1/21/2015
1/21/2015
1/22/2015
1/22/2015
1/22/2015
1/22/2015
1/23/2015
1/23/2015
1/23/2015
1/23/2015
1/23/2015
1/23/2015
1/23/2015
1/23/2015
1/23/2015
1/23/2015
1/23/2015
1/23/2015
1/23/2015
Page | 9
6 January 2015
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Page | 10
6 January 2015
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Page | 11