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The DBS Asian Insights Conference 2013 brought together
many of the region’s top government and business leaders
whose policies and decisions shape and move Asia.
On last Friday evening, CACHE announced the incorporation of
four wholly-owned subsidiaries, including a 100% stake in
Cache Polar Logistics Warehouse (Shanghai) Co., Ltd. While no
further details were given regarding the purpose of these
entities except they are either investment holding or
warehousing and logistics service companies, we are of the
view that CACHE may be looking to acquire a warehouse
facility in Shanghai, China from a third party vendor, possibly
logistics solutions provider Polar Logistics Group.
King Wan’s (KWAN) 1QFY14 was above expectations with
revenue at SGD25.1m. Its net profit of SGD2.6m is equivalent
to half of the core 1.5- cent dividend. We note that the
company’s new development property, Skywoods, should be
launched in 2QFY14. KWAN also issued an update on the status
of the KTIS IPO, which should go live within six months.
The source told the paper that Hong Kong-listed Tencent had
opened an office in Singapore to deal with the listing, which it
had originally planned to hold in Hong Kong.
TOP GAINERS & LOSERS
TOP GAINER % Change
Golden Agri-Resource... +2.94%
Thai Beverage PCL +1.89%
City Developments Lt... +1.14%
Singapore Telecommun... +0.81%
Genting Singapore PL... +0.36%
StarHub Ltd +0.24%
CapitaMalls Asia Ltd 0.00%
United Overseas Bank... -0.23%
Wilmar International... -0.32%
ComfortDelGro Corp L... -1.03%
TOP LOSER % Change
Jardine Strategic Ho... -5.59%
Jardine Matheson Hol... -4.42%
Jardine Cycle & Carr... -2.88%
Noble Group Ltd -2.30%
Global Logistic Prop... -2.21%
CapitaMall Trust -1.75%
DBS Group Holdings L... -1.35%
SIA Engineering Co L... -1.04%
Singapore Airlines L... -0.80%
Oversea-Chinese Bank... -0.57%
Snapshot for Straits Times Index STI (FSSTI)
Open: 3,192.26 Day Range: 3,168.28 - 3,202.10 Year To Date: +2.68%
Previous Close: 3,197.53 52-Week Range: 2,931.60 - 3,464.79 1-Year: +6.81%
Y O U R M I N T V I S O R Y Page 2
SELL JARDINE CYCLE AND CARRIAGE BELOW 38.410 TG 38.210, 38.000, 37.700 SL 38.600.
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