SMRT - Price surged today with heavy volume; queried by SGX
24 April 2014 | 11:38 am

Daily Chart
Share price of SMRT surged more than 20% today, hitting as high as S$1.24. The stock was heavily traded and eventually closed at $1.215 (up 18.5%).
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Asia Palm Oil - More room to grow
24 April 2014 | 11:04 am

■ Both GGR and BAL are expecting stronger output growth and lower costs in FY14

■ Palm oil price direction is also set to remain positive from tight inventories and the onset of El Niño

■ Our preferred picks in a higher price environment are FR (OW), GGR (OW) and KLK (OW); we also like BAL (OW) but liquidity is an overhang
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Singapore Banks - 1Q14 preview: Core earnings to remain steady
24 April 2014 | 10:46 am

We expect another set of steady results
The three Singapore banks will report their 1Q14 earnings on the same date, Wednesday, April 30, with DBS and OCBC before market opens and UOB after market close. We expect earnings to be softer for the quarter given weaker trading line, but core operating trends such as NIM, loan growth and asset quality should remain steady and likely be in line with expectations. 1Q14 trend: Flattish NIM to continue for now, softer market-related income The SG banks will report another quarter of stable but flattish NIM as banks were cautious in lengthening the asset duration. Capital market activities remained dull, and this would negatively impact trading and other marketrelated income (average daily turnover rose 9% QoQ, dropped 37% YoY). Given continued low interest rate and low unemployment, loan pipeline should remain healthy as credit cost is still not a concern for the sector.
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Singapore Exchange - 3QFY14 earnings in-line, stock price to remain range bound near term
24 April 2014 | 10:34 am

SGX reported 3QFY14 earnings of S$75.8mn, up 1% q/q, down 22%y/y and in-line with our estimates. The y/y deceleration in earnings was mainly due to a 37% decline in SDAV (S$1.1B in 3Q), resulting in a 32% y/y decline in securities revenue. Operating expenses were up 1% q/q and 3% y/y to S$77mn. Operating margins declined by 16bps q/q and came in at 53%.
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QT Vascular - IPO Factsheet
24 April 2014 | 10:32 am

QT Vascular is engaged in the design, assembly and distribution of advanced therapeutic solutions for the minimally invasive treatment of complex vascular diseases. It produces devices to treat diseased arteries in the heart and other parts of the body, and aims to develop new products and enhance existing ones. QT Vascular operates two assembly facilities, one in Singapore and one out of California.
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