The news comes a few days after group Chief Executive Wolfgang Baier’s resignation.
Source: SingPost to appoint special auditors to probe corporate governance issues – Channel NewsAsia
Comments: Can be seen as a move to gain back investor’s confidence..
Ascendas Hospitality Trust (A-HTRUST) says its managers are reviewing various strategic options after an unnamed party expressed interest in buying the trust.
Source: Ascendas Hospitality Trust says unnamed buyer interested in takeover – Channel NewsAsia
Companies & Markets News -The shock resignation of Singapore Post (SingPost) group chief executive Wolfgang Baier last week underscores the problems the firm has with corporate governance, according to National University of Singapore (NUS) Business School associate professor Mak Yuen Teen.. Read more at straitstimes.com.
Source: Don flags worries about SingPost, Companies & Markets News & Top Stories – The Straits Times
Let’s have a quick look at how’s the STI looking so far.
Currently, we are at around 2847. If you look at the 2015 chart, we are coming back down again, close to year low in late September. Just by looking at the moving averages alone, you can see that we are still downtrending. However, STI been testing the 20dma (red line). If STI happens to rebound from the September low, technically speaking, it is likely that it will rebound from there.
Till date, we are still far from year’s high, around 3549.
Let’s see if there’s any Santa Claus rally towards end of the year..
This year’s low was also during the low period in Mid 2012.
Asian shares steadied in cautious early trade on Tuesday, as investors were reluctant to make any big moves amid volatile crude oil and before a widely anticipated U.S. interest rate increase by the Federal Reserve later this week.
Source: Asian stocks steady, oil volatile as Fed looms large | Reuters
Business News -SINGAPORE (REUTERS) – Shares in Singapore’s Sembcorp Marine slipped as much as 5.3 per cent to more than 6-1/2-year low on Wednesday (Dec 2) after the rig builder issued a weak fourth-quarter guidance.. Read more at straitstimes.com.
SingPost CEO announced his resignation yesterday, after market closed. This sudden news is being priced into SingPost share price as of now. SingPost opened gapped down.
Moving averages: 20 dma downtrend, 200 dma pointing down
Comments: might be possible to see price hover in the lower range for a short period. CEO departure not taken well by the market
SGX Announcement:
http://infopub.sgx.com/FileOpen/Press%20Release.ashx?App=Announcement&FileID=381919
THE BUSINESS TIMES – IN a move that shocked the market, Singapore Post chief executive Wolfgang Baier said on Thursday evening that he was quitting the mainboard-listed company.. Read more at The Business Times.
Source: Wolfgang Baier abruptly quits as SingPost CEO, Companies & Markets – THE BUSINESS TIMES
THE independent financial adviser (IFA) to the board of Tiger Airways Holdings has recommended that shareholders accept Singapore Airlines’ (SIA) offer, calling it “fair and reasonable”.
Source: SIA’s offer for Tigerair fair and reasonable: IFA, Companies & Markets – THE BUSINESS TIMES
Market is still being wary of the Fed interest rate hike decision, which will be made on 17 December 2015, 3am (+8 GMT). From here on, I believe that markets will continue to trend sideways.. Till next week.
DEVOUR YOUR FEAR 