SGX Stock Recommendations : Epic Research Singapore

MARKET UPDATES :

• SINGAPORE’S economy grew 2.8 per cent in 2014, but the “moderately well” performance was dimmed by a  “disappointing” minus 0.5 per cent productivity growth in the first three quarters of the year.Unveiling these numbers in his New Year Message, Prime Minister Lee Hsien Loong also said that real median incomes continued to rise, leading to a 10 per cent jump over the last five years. Productivity has been weak for the third year in a row, according to Mr Lee who said that Singapore must redouble its efforts to help companies and workers upgrade to become more productive.

• THE Singapore operations of food chain Jones the Grocer, which has gone bust in Australia where it originates,    have not been hit by the restructuring Down Under, a senior executive of its majority shareholder L Capital Asia on Wednesday told The Business Times.”The Singapore business will be fine,” said chairman and managing partner Ravi Thakran at L Capital Asia, the private equity arm of luxury conglomerate LVMH Moet Hennessy Louis Vuitton. “The prognosis is good.”

• KEPPEL Corporation’s subsidiary, Keppel Shipyard, has secured its second floating liquefaction (FLNG) vessel conversion contract worth approximately US$705 million, from Norway’s Golar LNG.Under this agreement, Keppel will again convert an LNG carrier into an FLNG vessel for Golar, and will similarly engage engineering firm Black & Veatch (B&V) to provide design, procurement and commissioning support services for the topsides of the FLNG, and leverage B&V’s technology for the liquefaction process.

• YING Li International Real Estate on Wednesday said it would expand into other first-tier cities outside of Chongqing, China, for the first time, with its investment in the Beijing Tongzhou Project with China Everbright Limited.This will be done by investing 559 million yuan (S$119 million) in Shanghai Zhao Li Investment Centre LLP that would give it a “limited partnership interest”. The centre would then effectively invest in the project. Ying Li did not give a clear breakdown of its eventual stake in the Beijing Tongzhou Project, but said the group will partner with China Everbright and other joint investors to invest 7.2 billion yuan in total in the project.

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