Stocks In Focus SG (Singapore PMI, SGX, UOB) – 02/10/14

Singapore’s purchasing manager index provided by Singapore Institute of Purchasing and Materials Management for September was recorded at 50.5, gaining 0.8 points compared to last month. This was underpinned by larger new export orders mainly due to greater momentum in the electronics sector (Reading for overall new export orders – September: 51.4, August: 50.5).

Singapore Exchange agreed to acquire the remaining 49 percent of share capital in Energy Market Company for $23 million. EMC is the exchange for wholesale electricity trading via a trading platform. Its key activities include calculating prices, scheduling generation, clearing and settling market transactions as well as supporting governance of the market.

TEE Land’s revenue sank 52.6 percent to $6.4 million for the first quarter ended 31 August 2014, as there was no revenue contribution from the 91 Marshall property development which was completed in FY14. Despite the fall in revenue, better performance registered from its associate that was in excess of 90 percent helped to lift net profit by 367 percent to $2.7 million.

United Overseas Bank (UOB) was among nine of the international banks to be awarded a licence by the Central Bank of Myanmar to open a banking branch in Myanmar. UOB views that the licence would allow the group to more actively participate in Myanmar’s rapid economic development.

More From Shares Investment:

• Top 10 Most Oversold Stocks

• Stocks In Focus SG (Courts Asia, Ezra, Tigerair) – 10/10/14

• USA Daily Bulletin – 09/10/14