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1. DAILY REPORT
19th
JANUARY 2015
Y O U R M I N T V I S O R Y Page 1
BUY DATASONIC ABOVE 1.225 TARGET 1.255 1.305 SL 1.175
DAILY SGX REPORT
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2. DAILY REPORT
19th
JANUARY 2015
Y O U R M I N T V I S O R Y Page 2
TOP GAINERS & LOSERS
TOP GAINER % Change
CapitaMall Trust +1.40%
ComfortDelGro Corp L... +0.38%
StarHub Ltd +0.24%
SIA Engineering Co L... 0.00%
Golden Agri-Resource... 0.00%
Hutchison Port Holdi... 0.00%
Jardine Matheson Hol... -0.32%
Ascendas Real Estate... -0.41%
Singapore Press Hold... -0.73%
Genting Singapore PL... -0.98%
TOP LOSER % Change
Thai Beverage PCL -5.48%
Noble Group Ltd -3.41%
Singapore Airlines L... -2.96%
Singapore Exchange L... -2.51%
Jardine Strategic Ho... -2.51%
Sembcorp Industries ... -2.14%
United Overseas Bank... -1.54%
Global Logistic Prop... -1.21%
Sembcorp Marine Ltd -1.01%
Hongkong Land Holdin... 0.00%
Hutchison Port Holdi... -0.70%
Olam International L... -1.23%
ComfortDelGro Corp L... -1.21%
Singapore Press Hold... -0.94%
Straits Times Index (STI)
CT CD STH SIE GGR HPHT JM
AREI
T
SPH GENS
% Change 1.40% 0.38% 0.24% 0.00% 0.00% 0.00% -0.32 -0.41 -0.73 -0.98
-1.50%
-1.00%
-0.50%
0.00%
0.50%
1.00%
1.50%
2.00%
TOP GAINERS
THBE
V
NOBL SIA SGX JS SCI UOB GLP SMM HKL
%Change -5.48 -3.41 -2.96 -2.51 -2.51 -2.14 -1.54 -1.21 -1.01 0.00%
-6.00%
-5.00%
-4.00%
-3.00%
-2.00%
-1.00%
0.00%
TOP LOOSERS
Snapshot for Straits Times Index STI (FSSTI)
Open 3,325.53
Previous Close 3,338.84
Day Range 3,291.50-3,341.55
Year-to- Date -1.91%
1-Year +8.39%
52-Week Range 2,953.01-3,387.84

3. DAILY REPORT
19th
JANUARY 2015
Y O U R M I N T V I S O R Y Page 3

 THE pick-up in Singapore's non-oil domestic exports gathered strength to grow 2.3 per cent year on year in December 2014, after
rising 0.8 per cent in November.But the momentum failed to follow through month on month as the NODX inched up only a
seasonally-adjusted 0.1 per cent in December, against a 2.1 per cent increase in November.Non-electronic NODX fell month on
month but the decline was outweighed by a rise in the electronic NODX, according to trade promotion agency International
Enterprise Singapore.
 The Singapore economy has reached a stage of its development where it is no longer possible to expand by 5 to 6 per cent each
year, said Prime Minister Lee Hsien Loong.The country will have done well if it manages to achieve annual GDP growth of 2 to 3
per cent for the next five years, Mr Lee said in an interview with the Singapore media at the Istana on Wednesday."Domestically,
we have to get used to what that means. Three per cent (growth) per year means wages will go up correspondingly, gradually,
year by year. Maybe not every year, but over four to five years you will see improvements if we are successful in our policies."
 Centurion Corporation said it is currently exploring the feasibility of spinning off a real estate investment trust (Reit) to list on the
Singapore Exchange and injecting some of its workers accommodation assets into the Reit.This will allow the group to recycle
capital to pursue its growth strategies across its growing accommodation business, it explained.Having a Reit to hold the stabilised
assets could expand the group's role from developing greenfield projects to managing assets.
 Noble’s share price has broken below the key S$1 mark, currently down 4.9% at S$0.975, likely weighed by worries over a
prolonged drop in crude oil prices. Although Noble does not own much energy assets, it does derive a large part of its business
(revenue contribution of nearly 70%) from the energy sector, where it is predominantly involved in shale gas – both logistics and
trading.
 Neptune Orient Lines - Realistic chances of turnaround-:NOL could be in for better luck in FY15, with bunker fuel prices declining
from US$600/ MT to less than US$300/MT in a little over six months. Given that NOL’s liner business consumes about 3m MT of
bunker fuel per year, this implies significant cost savings. It has to be kept in mind though that part of the fuel price decline will be
passed through to customers through lower fuel surcharges and bunker adjustment factors on long-term contracts. However, the
fact that NOL has lagged its peers in terms of fuel efficiency and margins in the past means there is more room for improvement,
given the razor thin margins involved.
 Keppel Corp has announced S$330m worth of contracts in Jan 15. We estimate its order book to be at c.S$12.7bn with deliveries
mainly in 2015-16. In view of the weaker oil price environment, we incorporate a c.50% cut in order assumptions for FY15-16 to
S$2.8bn-3bn p.a. This leads to a 5-12% reduction in EPS and a lower target price of S$9.90, still based on RNAV.
MARKET UPDATES & STOCK RECOMMENDATION

4. DAILY REPORT
19th
JANUARY 2015
Y O U R M I N T V I S O R Y Page 4
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SUNTEC REIT
BUY SUNTEC REIT ABOVE 1.995 TARGET 2.045 2.145 SL 1.925