The daily report summarizes the performance of the Straits Times Index (STI) on February 24th. The STI opened at 3,103.30 points and fluctuated within a range of 3,096.54 to 3,109.80 points for the day. The top gainers were led by Jardine Cycle & Carriage Ltd with a gain of 3.82%. Noble Group Ltd suffered the largest loss of 3.90%. The report also provides an acquisition announcement by Ascott Residence Trust and earnings reports from BBR Holdings and Noble Group. It includes a stock recommendation to buy Jardine Cycle above 38.700 with target prices up to 40.000.

1. DAILY REPORT
24th FEBRUARY
Straits Times Index (STI)
Snapshot for Straits Times Index STI (FSSTI)
Open
3,103.30
evious Close
3,086.64
Day Range
3,096.54 – 3,109.80
Year-to- Date
-2.02%
1-Year
-2.92%
52-Week Range
2953.01-3464.79
TOP GAINERS & LOSERS
TOP GAINERS
4.50%
TOP GAINER
4.00%
% Change
3.50%
Jardine Cycle & Carr...
+3.82%
3.00%
Olam International L...
+3.22%
2.50%
Jardine Matheson Hol...
+1.93%
Jardine Strategic Ho...
+1.59%
1.00%
CapitaMall Trust
+1.35%
0.50%
Sembcorp Marine Ltd
+0.99%
United Overseas Bank...
+0.97%
Singapore Exchange L...
+0.87%
Singapore Technologi...
+0.80%
Singapore Press Hold...
TOP LOSER
+0.75%
% Change
2.00%
1.50%
0.00%
JCNC
OLA
M
JM
JS
CMT SMM UOB
SGX
STE
SPH
% Change 3.82% 3.22% 1.93% 1.59% 1.35% 0.99% 0.97% 0.87% 0.80% 0.75%
TOP LOOSERS
0.50%
Noble Group Ltd
-3.90%
-0.50%
Genting Singapore PL...
-2.86%
-1.00%
Global Logistic Prop...
-2.45%
-2.00%
ComfortDelGro Corp L...
-0.26%
-2.50%
Singapore Airlines L...
-0.10%
0.00%
-1.50%
-3.00%
Thai Beverage PCL
-4.50%
NOBL GENS
GLP
CD
SIA
THBE
V
HKL HPHT GGR
SCI
%Change -3.90 -2.86 -2.45 -0.26 -0.10 0.00% 0.00% 0.00% 0.00% 0.18%
YOUR MINTVISORY
0.00%
Hutchison Port Holdi...
0.00%
Golden Agri-Resource...
0.00%
Sembcorp Industries ...
-4.00%
0.00%
Hongkong Land Holdin...
-3.50%
+0.18%
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2. DAILY REPORT
24th FEBRUARY
MARKET UPDATES & STOCK RECOMMENDATION
ASCOTT Residence Trust has entered into a
conditional agreement with Winner Sight Investments
Ltd to acquire its first serviced residence in Dalian for
571 million yuan (S$118.6 mn). On a pro forma basis,
the accretive acquisition is expected to increase its
FY2013 distribution per unit by 1.5 per cent from 8.40
Singapore cents to 8.53 Singapore cents. Earnings per
unit are also expected to rise after acquisition to 16.3
Singapore cents from 16.2 Singapore cents previously.
JARDINE CYCLE
HIGHER revenue recognized from construction and
engineering projects caused construction group BBR
Holdings to post a net profit of S$21.8 mn for its
financial year ended Dec 31, 2013, 68 per cent higher
than a year ago. Revenue was up 55% to S$426.3 mn.
NOBLE Group's 2013 earnings tumbled 48 per cent to
US$243 million, as losses on supply chain assets and
from associates spiked.
Net profit attributable to shareholders fell to
US$243.5 million, from US$471.3 million a year ago.
This translates to earnings of 3.4 US cents per share,
compared with 7.06 US cents before.
BUY JARDINE CYCLE ABOVE 38.700 TG 39.000, 39.400,
40.000 SL 38.390
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