IN SAIGON CENTRE STAKE IS INCREASED KEPPEL LAND

KEPPEL Land on Sunday said it has acquired from its Vietnamese partner, Southern Waterborne Transport Corporation, an additional 16 per cent stake in the joint venture (JV) entities for Saigon Centre in Ho Chi Minh City, Vietnam.

The consideration for the purchase is 845.9 billion Vietnamese dong (about S$53.5 million), satisfied fully in cash and funded by internal financial resources.

Following the acquisition, Keppel Land has raised its aggregate interest in the JV companies for Saigon Centre Phases One and Two from about 45.3 per cent to 53.5 per cent, and its aggregate interest in the JV companies for subsequent phases of Saigon Centre from 68 per cent to 76.2 per cent.

Ang Wee Gee, CEO, Keppel Land, said: "Our increased stake in Saigon Centre reflects Keppel Land's confidence and long-term commitment to contribute to sustainable urbanisation in Vietnam with our quality portfolio of properties."

The transaction is not expected to have any material impact on the earnings per share and net tangible asset per share of Keppel Corporation for the current financial year.

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GOOD STOCKS TO WATCH: REITS, PROPERTY; SUPER OFFER NOW UNCONDITIONAL

ASIAN stocks will be trading on Thursday after an expected Fed rate hike.

Despite the hike, the path of rate hikes for the rest of the year was not as steep as feared, analysts said.

That is a positive for commodity-linked and equity-flow-driven emerging market currencies as the fear of a stronger dollar and higher US rates gets dispelled, said Citi Research. These include the Korean, Indian, Indonesian and Malaysian currencies, it said.

In Singapore, interest rate-sensitive real estate investment trusts (Reits) might see trading upon expectations of rate hikes being reset to three this year.

Property stocks remain in the limelight after the government surprised with a slight tweak to cooling measures last week.

Reiterating its "neutral" stance on the sector, Maybank Kim Eng Research said on Wednesday that demand from occupiers remains weak while high land prices drag on developer profitability.

"We believe the market should curb their enthusiasm on outperformers and switch to laggard, UOL, after the recent sector rally," the broker said.

Meanwhile, Super Group said on Thursday morning that its offer by Jacobs Douwe Egberts has turned unconditional in all respects, and the closing date for the offer has been extended to April 25. This means the takeover attempt will be proceeding as planned given that it has been accepted by more than half of existing shareholders.

Shares owned, controlled, or agreed to be acquired by the offeror and concert parties amounted to 56.09 per cent of the company's issued share capital as of March 15.

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THE MONETARY AUTHORITY OF SINGAPORE HAS ISSUED A WARNING AGAINST BINARY TRADING

Financial losses have already been incurred.

The Monetary Authority of Singapore has issued a warning to investors regarding the trading of binary options with unregulated platforms.

The warning comes in the wake of an increase in the number of complaints from investors who have suffered financial losses from such investments.

A binary option is a type of option contract that references an underlying instrument such as stocks, commodities, currencies, and interest rates. According to MAS, unregulated platform providers often use marketing catchphrases such as “trading with zero risk”, “trading amounts of as little as $1”, and “profit payout of 500% per trade” to entice investors to invest.

"Contrary to promises of low investment risks with exceptionally high returns, binary options are in fact speculative and risky investment instruments. There is a high chance of the investor losing his entire investment amount, whether the investor deals with a regulated or unregulated entity. Further, an investor is always exposed to investment risk, whether a product is regulated or not," noted MAS.

Moreover, many of these unregulated platforms are deemed fraudulent and based outside Singapore. Investors who choose to trade with these platforms are unlikely to recover what is lost.

"Investors should know that if they choose to deal with unregulated entities, they will not have access to avenues for dispute resolution should a dispute later arise," stressed MAS.

In order for investors to protect themselves, MAS suggested to think carefully about the claims being made about the products offered.

"If the touted ease of making significant profits sounds too good to be true, it probably is. Always assess whether the investment being offered is suitable for you, in light of your investment objectives and personal circumstances," it stated.

More so, investors should also check if the entities offering the products are regulated by MAS. Investors are given the access to the MAS Financial Institutions Directory, as well as the MAS Investor Alert list.

MAS urges those who suspect that fraud is involved in entities or platforms offering binary options or other products promising unrealistically high returns to submit information online to the authorities.

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SGX MARKET SHARES REMAINS SAME ON TUESDAY

SINGAPORE stocks opened unchanged on Tuesday, with the Straits Times Index moving up 0.79 points to 3,147.94 as at 9 am.

About 52.3 million shares worth S$46.8 million in total changed hands, which worked out to an average unit price of S$0.89 per share.

The most actively traded counter was Swee Hong, which rose S$0.001 to S$0.017 with 12.9 million shares changing hands. Other actives included Disa and IHC.

Gainers outnumbered losers 73 to 50, or about three up for every two down.

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SINGAPORE DEVELOPER STOCKS SOARED AS AUTHORITIES EASED SOME PROPERTY-MARKET CURBS

Singapore developer stocks soared as authorities eased some property-market curbs, with analysts saying the changes will buoy shares that have been weighed down by a three-year losing streak for house prices.

Authorities will adjust a framework that limits the amount that home buyers can borrow from March 11, and shorten the time that owners must hold a property to be exempt from a stamp duty on sale, according to a Friday statement. City Developments Ltd, CapitaLand Ltd and UOL Group Ltd led gains on the Straits Times Index, surging at least 4 per cent, while an index of 44 Singapore real-estate companies rallied to the highest since July 2015.

"The stealth move should lead to a scramble to re-rate property developers back to book value on optimism property prices have bottomed and will start to rise from here," said Alan Richardson, a Hong Kong-based investment manager at Samsung Asset Management Co.

Sentiment is positive and has taken the market by surprise after Singapore's budget speech last month didn't mention property easing measures, he added.

The measures are an "incremental positive" amid an abundance of real estate supply coming on coupled with a weak demand outlook, Joshua Crabb, head of Asian equities at a unit of Old Mutual Plc said.

"The question is whether the fundamentals are improving or it's too cheap rather than just the incremental positive which is now announced and known," he added.

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SGX MARKET SHARES FALLS ON FRIDAY

SINGAPORE share prices opened 0.17 per cent lower on Friday, with the Straits Times Index (STI) down 5.42 points to 3,113.42 at 9.11am.

The highest value traded stocks were banks UOB (down eight Singapore cents to S$21.34), DBS (down 12 Singapore cents to S$18.82), and shipbuilder Yangzijiang (up 1.5 Singapore cent to S$1.13) at 9.12 am.

Overall, 135.8 million shares worth S$97.2 million changed hands, with gainers outnumbering losers 84 to 83 as at 9.11 am.

On Wall Street, US stocks ended slightly higher on Thursday. The Dow Jones Industrial Average ended up 2.46 points, or 0.01 per cent, to 20,858.19; the S&P 500 gained 1.89 points, or 0.08 per cent, to 2,364.87 and the Nasdaq Composite added 1.26 points, or 0.02 per cent, to 5,838.81.

In Tokyo, stocks also opened higher on Friday with a weak yen boosting exporters. Tokyo's benchmark Nikkei 225 index gained 0.57 per cent, or 109.23 points, to 19,427.81 in early trading, while the Topix index of all first-section issues was up 0.72 per cent, or 11.24 points, to sit at 1,565.92.

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SGX STOCK ADVICE FOR PROFIT INVESTMENT

Global Logistic Properties: Logistics facilities provider Global Logistic Properties (GLP) has signed 69,000 sq m of new leases in China and Japan over the past three months, it announced on Thursday. The customers are using the facilities to service growing demand from online and offline retail distribution channels, it said.

TTJ Holdings: Structural steel provider TTJ Holdings Ltd posted a 43 per cent drop in net profit for the second quarter ended Jan 31 to S$3.1 million, as revenue and margins took a hit. Revenue slipped 30 per cent to S$19.98 million during the quarter.

Silverlake Axis: One-and-a-half years after a short-selling report targeted software firm Silverlake Axis' complex corporate structure, the company is apparently moving to simplify it. Executive chairman Goh Peng Ooi has proposed to sell his interests in his various Silverlake private entities to the company.

Pavillon Holdings: Pavillon said on Wednesday that it has entered into agreements with two investors from China for investments worth US$10.14 million in its wholly owned subsidiary Pavillon Financial Leasing (PFL). The new investors are Walum Holdings and Tianjin Baorui International Trading; Walum Holdings' investment of US$7.97 million will result in a shareholding of 12.26 per cent, while Tianjin Baorui's investment of US$2.17 million will result in a 3.34 per cent shareholding.

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