1. business and industrial
2. company
3. joint venture

 Morning Buzz
Monday, 13 October 2014
AmFraser Research Team
www.amfraserdirect.com.sg
STI Index (previous day Close) 3,223.87 (‐1.09%)
TODAY’S HEADLINE FED OFFICIALS READY IF WORLD GROWTH SLOWS
Federal Reserve officials have sounded an alert over the threat to US growth from a slowdown elsewhere in the world, warning that it could make them delay an interest‐rate increase. "If foreign growth is weaker than an cipated, the consequences for the US economy could lead the Fed to remove accommoda on more slowly than otherwise," vice‐chairman Stanley Fischer said on Saturday in a speech at the Interna onal Monetary Fund's annual mee ngs in Washington. Vol (mil): 1,430.5 / Val (S$ mil): 978.5
Source: Bloomberg
MAJOR STOCK INDICES
DJ Ind Avg
16,544.10
-0.69%
1,906.13
-1.15%
S & P 500
Nasdaq Comp
Hang Seng
4,276.24
-2.33%
23,088.54
-1.90%
Source: Bloomberg
COMMODITIES
Gold (SPOT) US$
1,231.15
0.66%
Oil (NYMEX WTI)
84.85
-1.13%
963.00
-1.13%
Baltic Dry
Source: Bloomberg
EXCHANGE RATES
"I'm worried about growth around the world right now," Fed Governor Daniel Tarullo told a banking conference on the sidelines of the IMF talks. "This is obviously a set of things that we have to think about in our own policies going forward." The comments came three days a er minutes of the Fed's September policy mee ng showed authori es highligh ng worries over the risks posed to their economy by deteriora ng expansions abroad and a stronger dollar, which could hurt exports and damp infla on. The IMF last week reduced its forecasts for global growth in 2015, predic ng it will be 3.8 per cent, compared with a July forecast for 4 per cent, a er a 3.3 per cent expansion this year. San Francisco Fed President John Williams said that with the Bank of Japan and European Central Bank also pursuing unconven onal monetary policies, there is a risk of tensions between them. Mr Fischer said that the Fed won't raise rates un l the US expansion "has advanced far enough," and emerging markets should be able to weather the increase. "Tightening should occur only against the backdrop of a strengthening US economy and in an environment of improved household and business confidence," he said. NEWS BUZZ  Yoma Strategic: Yum! and Yoma to bring first KFC to Myanmar USD : SGD 1.2747 / MYR : SGD 0.3905
Source: Bloomberg
 Kian Ho Bearing: Buy two Sophia Rd proper es  Boustead Singapore: Bags 3 deals worth S$137m INTEREST RATES
 United Envirotech: Takes 49% stake in Sichuan JV 3-mth Sibor
0.410%
SGS (10yr)
2.295%
Source: Bloomberg
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Monday, 13 October 2014
News Buzz Yoma Strategic (S$0.610)
Yum! and Yoma to bring first KFC to Myanmar Yoma Strategic has teamed up with New York‐listed Yum! Brands to bring the first KFC restaurant to Myanmar in 2015, with Yoma as its franchise partner. Kian Ho Bearing (S$0.205)
Buy two Sophia Rd proper es Kian Ho Bearings is planning to buy two proper es on Sophia Road for a total of S$15.27mil. Each has 55 years remaining in its tenure. Boustead Singapore (S$1.740)
Bags 3 deals worth S$137m A wholly owned subsidiary of Boustead Singapore has been awarded three design
‐and‐build contracts, poten ally totaling S$137mil, in the food, logis cs and renewable energy industries in Singapore. The latest contracts will raise the group's order book backlog (as at end‐June, including the new orders) to over S$452mil. The new contracts are expected to have a posi ve material impact on the profitability and EPS of Boustead Group in the financial year ending March 31, 2015 but not expected to have a material impact on the NTA value per share in the current financial year. The group said the official sales launch of its 35% joint‐
venture project in Iskandar Malaysia, the iBP@Nusajaya, takes place today (Saturday). United Envirotech (S$1.330)
Takes 49% stake in Sichuan JV United Envirotech con nued to reap the reward of its new membrane‐making business with a par al 49% stake in an ini al 1.5bil yuan (S$300mil) project in western China, the water‐treatment specialist said. The joint venture will provide engineering, procurement and construc on using United Envirotech's membrane technology and products. United Envirotech es mates that the first block of projects, which will start immediately and be completed by the end of 2015, will use about 300mil yuan of its Memstar membrane products. Source: The Business Times / Bloomberg / Straits Times
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Monday, 13 October 2014
Corporate Ac on Dividend
Company
Results
Ann Date
Period
DPS
Ex-Date
Book Close
Payable
Share Price
Yield
10-Oct-14
(%)
Parkson Retail Asia
21-Aug-14 FY14 SGD 0.025000
3-Nov-14
5-Nov -14
13-Nov -14 SGD
0.895
2.8
Parkson Retail Asia - Special
21-Aug-14 FY14 SGD 0.030000
3-Nov-14
5-Nov -14
13-Nov -14 SGD
0.895
3.4
Rights & Bonus Issue
Company
Rights Issue
Ex-Date
Book Close
JB Foods
1 Rts Share @ S$0.12 each Rts share for
ev ery 2 ex isting ord share held
29-Sep-14
1-Oct-14
Right Trading Period
From
To
7-Oct-14
15-Oct-14
Source: SGX Annoucement
BUYOUTS
Offer
Price
Remarks
Closing Date
Offeror
C hina Energy
SGD 0.052
C ash
5.30 p.m. on 14 Oct 2014
Lianguo Int'l Ltd
Fischer Tech
SGD 0.16
C ash
5.30 p.m. on 8 Oct 2014
H armony (S) H oldings Pte. Ltd.
Source: SGX Annoucement
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Monday, 13 October 2014
Financial Calendar Monday
Tuesday
13-Oct
Wednesday
14-Oct
SG: 3Q14 Advance GDP Estimates
Q4: SPH REIT
(Not later than 14 Oct)
Thursday
15-Oct
SG: Prices of Private Residential Units
Sold by Developers
Friday
16-Oct
Q3: Keppel Infrastructure Trust /
Keppel REIT / M1
17-Oct
Q3: CapitaMall Trust / Keppel T&T
Q3: Qian Hu / Sabana Shari'ah
Q4: Spore Press Hldgs
20-Oct
SG (Oct 2014): 2nd Open Bidding
Exercise for COE Start @ 12.00 noon
21-Oct
SG (OCT 2014): 2nd Open Bidding
Exercise for COE
Q2: Mapletree Logistics Trust
Q1: Spore Exchange
Q3: Keppel Land
Q2: Mapletree Industrial Trust
Q4: Frasers Commercial Trust
Q3: Keppel Corp / Soilbuild Biz Space
22-Oct
SG (Oct 2014): 2nd Open Bidding
Exercise for COE End @ 4.00 p.m.
23-Oct
Q2: Ascendas REIT
SG (Sept 2014): CPI
Q3: Aztech Grp / Cache Logistics
Trust / Cambridge Industrial Trust
SG: 3Q14 Real Estate Statistics
Q4: Frasers Centrepoint Trust
Q2: Mapletree Commercial Trust /
Mapletree Greater China
Q3: CapitaCommercial Trust /
CapitaRetail China Trust / Utd
Overseas Insurance
Deepavali
27-Oct
28-Oct
29-Oct
30-Oct
31-Oct
SG (Sept 2014): Unemployment Rate
Q3: Indofood Agri Resources / OCBC
& Employment
Q3: CDL Hospitality Trust / OSIM
Q4: Second Chance Properties
24-Oct
(Before mkt open) / Parkway Life REIT /
UOB
*Q1: Micro-Mechanics Hldgs
Q3: Forterra Trust
*Q3: DBS
3-Nov-14
SG (Nov 2014): 1st Open Bidding
Exercise for COE Start @ 12.00 noon
4-Nov
SG (Nov 2014): 1st Open Bidding
Exercise for COE
5-Nov
SG (Nov 2014): 1st Open Bidding
Exercise for COE End @ 4.00 p.m.
6-Nov
7-Nov
Q3: China Aviation Oil / SembCorp
Industries
*Q2: SIA
Q3: Cosco Corp
Q2: Global Logistic Properties
10-Nov
Q3: SembCorp Maritime
11-Nov
12-Nov
Q2: AusNet Services
13-Nov
Q3: HTL Int'l
14-Nov
Q2: Terratech Grp (Release on Sat, 15Nov)
*Q2: SATS
* TentaƟve
Source: Company; Bloomberg
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Monday, 13 October 2014
Disclaimer
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financial adviser in Singapore.
This report is provided for informa on only and is not an offer or a solicita on to deal in securi es or to enter into any legal rela ons, nor an advice or a recommenda on with respect to such securi es. This report is prepared for general circula on. It does not have regard to the specific investment objec ves, financial situa on and the par cular needs of any recipient hereof. You should independently evaluate par cular investments and consult an independent financial adviser before dealing in any securi es men oned in this report. This report is confiden al. This report may not be published, circulated, reproduced or distributed in whole or in part by any recipient of this report to any other person without the prior wri en consent of AmFraser. This report is not intended for distribu on, publica on to or use by any person in any jurisdic on outside Singapore or any other jurisdic on as AmFraser may determine in its absolute discre on, where the distribu on, publica on or use of this report would be contrary to applicable law or would subject AmFraser and its connected persons (as defined in the Financial Advisers Act, Chapter 110 of Singapore) to any registra on, licensing or other requirements within such jurisdic on. The informa on or views in the report (“Informa on”) has been obtained or derived from sources believed by AmFraser to be reliable. However, AmFraser makes no representa on as to the accuracy or completeness of such sources or the Informa on and AmFraser accepts no liability whatsoever for any loss or damage arising from the use of or reliance on the Informa on. AmFraser and its connected persons may have issued other reports expressing views different from the Informa on and all views expressed in all reports of AmFraser and its connected persons are subject to change without no ce. AmFraser reserves the right to act upon or use the Informa on at any me, including before its publica on herein. Except as otherwise indicated below, (1) AmFraser, its connected persons and its officers, employees and representa ves may, to the extent permi ed by law, transact with, perform or provide broking, underwri ng, corporate finance‐related or other services for or solicit business from, the subject corpora on(s) referred to in this report; (2) AmFraser, its connected persons and its officers, employees and representa ves may also, to the extent permi ed by law, transact with, perform or provide broking or other services for or solicit business from, other persons in respect of dealings in the securi es referred to in this report or other investments related thereto; and (3) the officers, employees and representa ves of AmFraser may also serve on the board of directors or in trustee posi ons with the subject corpora on(s) referred to in this report. (All of the foregoing is herea er referred to as the “Subject Business”.) However, as of the date of this report, neither AmFraser nor its representa ve(s) who produced this report (each a “research analyst”), has any proprietary posi on or material interest in, and AmFraser does not make any market in, the securi es which are recommended in this report. Each research analyst of AmFraser who produced this report hereby cer fies that (1) the views expressed in this report accurately reflect his/
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for AmFraser Securi es Pte Ltd
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