|Bid||1.2900 x 0|
|Ask||1.3000 x 0|
|Day's range||1.2900 - 1.3000|
|52-week range||1.2400 - 1.9800|
|Beta (5Y monthly)||0.83|
|PE ratio (TTM)||6.83|
|Earnings date||13 Aug 2020|
|Forward dividend & yield||0.07 (5.43%)|
|Ex-dividend date||20 Aug 2020|
|1y target est||1.96|
Singapore is preparing to introduce the Singapore Overnight Rate Average as the new interest rate benchmark for syndicated loans ahead of the expected discontinuation of the scandal-tainted Libor framework. The loan market has until the end of 2021 to move away from the widely used Libor-based Singapore Swap Offer Rate benchmark, and the Singapore Interbank Offered Rate (Sibor) after that. The Steering Committee for SOR Transition to SORA, an industry-led body established by the central bank, will this month recommend a deadline to stop using SOR in new loans and aims to publish possible transition approaches for legacy contracts by year-end, according to its spokesperson.
Olam International secured a club loan of S$200 million, the first such facility pegged to the Singapore Overnight Rate Average, or SORA, from DBS and ICBC Singapore.
Olivier Gore-Bi took out loans to ready his 12-acre cashew farm in Ivory Coast for harvest. In the first few months of a normal year, over 55% of all cashews would be harvested by farmers in West Africa, dried and shipped in raw form to Asian processors before being sold to consumers worldwide. Prices for raw cashews, which were already under pressure from excess supply in the last few years, tumbled after processing slowed in Asia and border closures in March stopped major buyers flying to West Africa from Vietnam and India.