YOMA STRATEGIC HOLDINGS LTD. : COMPANY OVERVIEW

Yoma Strategic was incorporated in Singapore on 20th October 1962. On 17 August 2006, it changed the name from Sea View Hotel Limited to Yoma Strategic Holdings Ltd after the completion of acquisition by Sea View Hotel Limited. After the completion of the acquisition, Sea View disposed off all its interests in the existing subsidiaries.Today, it is engaged in property development, construction and piling services, also project management and design services in Myanmar. Its portfolio of development properties includes apartments, condominiums and bungalows.

In this segment, the Group manages all the property projects initiated by its group including the provision of detailed budgeting, costing and planning, as well as project management. Yoma Strategic’s construction services which support its property development business, include foundation piling work for various types of buildings and acting as contractor for super-structure construction works.

It also supplies ready-mixed concrete, sand and shingle to the Myanmar construction industry.

Return on Equity	6.94%
Net Asset Value	S$702.86
Market Cap	S$640.20

FINANCIAL VIEW

• The ratio of asset and liability is increasing as y-o-y figures are considered.
• The net income is continuously increasing, as well as Gross Profit is also increasing.

	FY2013 31Dec 13	FY2014 31Dec 14	LTM Ending 30 Jun 15
Revenue	60.467	100.493	110.927
Gross Profit	26.207	44.656	45.587
Net Income	14.444	16.392	28.051
EBITDA	9.079	21.111	16.463
Total Assets	462.564	483.276	834.1
Total Liabilities	66.444	65.238	101.909

GROWTH OVER PRIOR YEAR (%)

TECHNICAL INDICATORS:

Daily Chart: Shows a consolidation, which if broken downwards may lead to a bearish trend. Also, OBV is indicating a bearish trend, while MACD will also support the same if the support1 is broken.

SGX Symbol	Z59	Currency	SGD
Last Done	0.365	Volume(‘000)	2577
Day’s Range	0.350-0.360	52Weeks’ Range	0.300-0.646

Weekly Chart: It is major downtrend counter in weekly chart also and forming the same strong support at support1, which if broken will indicate a bearish signal.

S1	S2	R1	R2
0.345	0.330	0.375	0.395

Our VIEW:

Overall Trend: Overall trend seems to be bearish in short term with some minor corrections, if any.
Short term View: Bearish below 0.345 , with resistance at 0.370.

Long term View: Bearish below 0.300 , with resistance at 0.330.

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COMPANY OVERVIEW: METRO HOLDINGS LIMITED

Metro Holdings Limited, alongwith with its subsidiaries, engages in retail, property development, and leisure businesses in Singapore, the People’s Republic of China, Japan, and other countries internationally. 

It operates through two segments, Property and Retail. The company leases shopping and office spaces, as well as invests in property-related investments. It operates a chain of department stores and specialty shops, which offer a range of merchandise, fashion accessories, and casual women’s wear with ethnic origin and serves its customers through a chain of 5 Metro department stores and 11 Monsoon/Accessorize/M.2 specialty shops in Singapore; and 9 department stores in Indonesia. It also owns interests in approximately 142,000 square meters of retail and office investment properties in Beijing, Shanghai, and Guangzhou; and 1,001,000 square meters of residential and mixed-use development properties. The company was founded in 1957 and is based in Singapore.

Return on Equity	11.11%
Net Asset Value	SGD 1377.317
Market Cap	SGD 749.4 MN

FINANCIAL VIEW

	FY2013 31Dec 13	FY2014 31Dec 14	LTM Ending 30 Jun 15
Revenue	187.12	139.179	145.826
Gross Profit	57.222	18.188	8.352
Net Income	64.813	106.849	142.867
EBITDA	41.562	(0.875)	(12.508)
Total Assets	1546.975	1325.685	1641.523
Total Liabilities	123.592	73.633	199.401

• Even though the revenue and gross profits are decreasing y-o-y basis, yet for the short term, we can earn profits from it.
• The net income of the company is increasing on a y-o-y basis.

TECHNICAL INDICATORS:

Daily Chart: On daily chart the counter is on a major uptrend, with some minor corrections in between, which it has recently taken in few days before. Now, the counter is showing up a breakout on OBV to indicate a bullish trend start once again.

SGX Symbol	M01	Currency	SGD
Last Done	0.865	Volume(‘000)	29.6
Day’s Range	0.865-0.885	52 Weeks’ Range	0.816-1.013

Weekly Chart: The counter is having a major uptrend in weekly chart also and is in the consolidation in this chart, therefore it it breaks the upper level of 0.895, bullish trend is most likely to be expected.

S1	S2	R1	R2
0.875	0.835	0.895	0.930

Our VIEW: Overall Trend: Overall trend seems to be positive with some minor corrections, if any.
Short term View: BULLISH above 0.895 with support @ 0.875.

Long term View: BULLISH above 0.930 with support @ 0.895.

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COMPANY OVERVIEW: FIRST RESOURCES LIMITED

First Resources Limited, is an investment holding company, which engages in the cultivation and maintenance of oil palm plantations primarily in Singapore and Indonesia. It operates in two segments, Plantations and Palm Oil Mills, and Refinery and Processing. It is also involved in harvesting and milling the fresh fruit bunches into crude palm oil (CPO) and palm kernel products, and also process CPO and palm kernel into value palm-based products, such as bio-diesel, refined, bleached and deodorized (RBD) olein, RBD stearin, palm kernel oil, and palm kernel expeller. It engages in oil palm seed breeding and rubber plantation activities; and marketing and selling processed palm based products. First Resources manages approximately 190,000 hectares of oil palm plantations, and operates 12palm oil mills in Indonesia. Apart from this, it owns and manages air-crafts. The Company exports its products. It was found in 1992 and is based in Singapore. It is a subsidiary of Eight Capital Inc.

Return on Equity	14.45%
Net Asset Value	SGD 1076.859
Market Cap	SGD 3065.2 MN

FINANCIAL VIEW

• The ratio of asset and liability is increasing as y-o-y figures are considered.
• The net income and Gross profit are not that much reliable, however for short term investment it can be ignored.

	FY2013 31Dec 13	FY2014 31Dec 14	LTM Ending 30 Jun 15
Revenue	626.429	615.524	533.898
Gross Profit	381.743	323.399	306.68
Net Income	238.242	173.409	156.103
EBITDA	337.126	297.665	283.69
Total Assets	1780.274	1997.855	1957.131
Total Liabilities	740.149	882.105	880.272

GROWTH OVER PRIOR YEAR (%)

TECHNICAL INDICATORS:

Daily Chart: It is a major uptrend counter and has recently taken a lot of correction is downtrend, now it has started showing up the bullish signal by giving a breakout on the trend line and on OBV. Also, RSI is too low now, which means an oversold condition and thus stock is likely to increase now.

SGX Symbol	EB5	Currency	SGD
Last Done	1.555	Volume(‘000)	1127.3
Day’s Range	1.52-1.56	52 Weeks’ Range	1.435-2.19

Weekly Chart: Weekly chart will also show the bullish signals if it goes above 1.60 and thus give a clear breakout on the trend line as well as the OBV.

S1	S2	R1	R2
1.515	1.435	1.60	1.725

Our VIEW:

Overall Trend: Overall trend seems to be positive with some minor corrections, if any.
Short term View: BULLISH above 1.60 with support @ 1.515.

Long term View: BULLISH above 1.725 with support @ 1.60.

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COMPANY OVERVIEW: CHINA AVIATION OIL(S) CORP LTD.

China Aviation Oil (Singapore) Corporation Ltd, an investment holding company, is involved in the trading of aviation oil and petroleum products. It operates in 3 segments: Middle Distillates, Other Oil Products, and Investments in Oil-Related Assets. The company is engaged in the supply and trading of jet fuel to the international airports in China, as well as does marketing and supplies aviation fuel to airline companies in Europe, North America, the Asia Pacific, and the Middle East. It also supplies and trades oil products, like gas oil, fuel oil and petrochemicals in the Asian Pacific market; and invests in oil-related assets. The company was incorporated in 1993 and is located in Singapore. It is a subsidiary of China National Aviation Fuel Group Corporation

FINANCIAL VIEW

• The ratio of asset and liability is decreasing as y-o-y figures are considered.

• The net income is continuously decreasing, as well as Gross Profit is also decreasing.

Return on Equity	7.861%
Net Asset Value	S$ 572.258
Market Cap	S$ 533.3mm

GROWTH OVER PRIOR YEAR (%)

	FY2013 31Dec 13	FY2014 31Dec 14	LTM Ending 30 Jun 15
Revenue	15571.868	17061.031	13705.315
Gross Profit	52.491	27.397	16.246
Net Income	70.216	49.16	43.89
EBITDA	31.573	10.599	4.453
Total Assets	1721.398	1378.715	1365
Total Liabilities	1197.836	818.963	787.274

STOCKS TECHNICAL:

TECHNICAL INDICATORS:

Daily Chart : 

 It is forming a Bearish counter with major Downtrend, with some minor up trends in between, which is already been made, very recently.

SGX Symbol	G92	Currency	SGD
Last Done	0.590	Volume(‘000)	11
Day’s Range	0.590-0.590	52Weeks’ Range	0.50-0.90

Weekly Chart: 

  It again shows that the counter is a major downtrend counter with some minor uptrend candles, and the counter is in consolidation, which if broken downwards will lead to a new bearish trend. 

Weekly Chart

S1	S2	R1	R2
0.560	0.500	0.590	0.660

Our VIEW:

Overall Trend: Overall trend seems to be bearish in with some minor corrections, if any.
Short term View: Bearish below 0.560 , with resistance at 0.590.

Long term View: Bearish below 0.500 , with resistance at 0.560.

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COMPANY OVERVIEW: Halcyon Agri Corporation Limited

• Halcyon Agri Corporation Limited, an investment holding company, originates, produces, and distributes natural rubber products worldwide.
  
• The company operates through Plantation, Processing, and Distribution segments. It produces technically specified rubber and compound rubber; and constant viscosity rubber products in Indonesia and Malaysia, as well as owns, develops, and manages rubber estate land in Kelantan, Malaysia.
• The company offers its natural rubber primarily under the HeveaPRO brand; and procures other origins and grades of rubber from third party producers worldwide.
• It distributes its products to an international customer base through a network of warehouses and sales offices in South East Asia, China, the United States, and Europe.
• The company serves tire producers. Halcyon Agri Corporation Limited was founded in 1934 and is headquartered in Singapore.

Price/Book value	2.40
EV/EBITDA	23.59
5-Year Beta	1.02
Total Market Cap	S$ 240 MM

FINANCIAL VIEW

• Revenue & Gross profit are continuously increasing over the last 3 years.
• Total assets is continuously increasing over the last 3 years.

	FY2013 31Dec 13	FY2014 31Dec 14	LTM Ending 30 Jun 15
Revenue	204.97	479.247	907.964
Gross Profit	204.97	479.247	907.964
Operating Income	11.718	4.129	-10.453
Net Income	9.093	-9.429	-5.935
Total Assets	107.851	640.987	683.541
Total Liabilities	27.579	480.456	537.889

STOCKS TECHNICAL:

Daily Chart

SGX Symbol	5VJ	Currency	SGD
Last Done	0.580	Volume(‘000)	1099. M
Day’s Range	0.565 - 0.590	52 Weeks’ Range	0.425 - 0.86

Weekly Chart

S1	S2	R1	R2
0.560	0.510	0.610	0.660

TECHNICAL INDICATORS:

Daily Chart: RSI is above the center line indicating bullishness and is at 59.831 and CCI is above the signal line at 117.033. MACD is at -0.004 above its signal line i.e, -0.019.

Weekly Chart: RSI is near the center line indicating bullishness in near future and is at 45.322and CCI is below the signal line at -75.535.

Our VIEW:

Halcyon Agri is technically very sound. RSI is indicating bullish trend in near future. Bulluish trend is also supported by MACD and CCI, as CCI price line is above signal line and faster MACD is above slower MACD. It is expected to continue its bullish trend.. If it breaks the resistance of 0.610, it is expected to rise up till 0.660 in short perioed.

Overall Trend: It is following uptrend in both weekly and daily chart.
Short term View: BULLISH with support @0.560 TARGET 0.660

Long term View: BULLISH with support @0.510 TARGET 0.700

If traded on proper support and resistance for a day or so we can take out good profit in the contra holding also.

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STI Weekly Technical Analysis & Market Forecast for Week Ahead

Weekly wrap of STI: Straits Times Index (STI) opened at 2987.18 i.e., 31.24 or 1.05 % lowerand ended 92.13 points or 3.11% lower to 2863.81 this week. STI came off from its weekly peak of 28987.18 and low of 2860.00.

Singapore shares eased by one per cent on Friday, with STI down 29.17 points to 2,877.26 on early profit-taking and closed at 2863.81. Singapore market posted losses at midday. Market breadth remained negative. STI came off from its daily peak of 2893.12 and low of 2893.12. 

STRAIT TIMES WEEKLY WRAP
OPEN	2987.18
HIGH	2987.18
LOW	2860
CLOSE	2863.81
CHANGE (In Points)	-92.13
% CHANGE	-3.11%

 Companies in Singapore are positive about their six-month business and trade outlook, with client acquisition and international expansion being key drivers of growth. Despite their long term focus on international opportunities, Singapore companies are currently more bullish on achieving growth domestically.

Singapore's Purchasing Managers' Index (PMI) slipped further into contraction mode in August, dipping 0.4 point to 49.3, though the drop was not unexpected. Private-sector economists had earlier projected a reading of 49.4, down from July's 49.7. A reading above 50 represents growth, while one under 50 points to a contraction in the manufacturing sector.

Market Forecast for week ahead:

STI showed bearish sentiment this weak. STI has broken its support of 2870. It has its support at 3840, if it breaks this level it may fall till 2800. MACD shows a postive moment next week as faster moving average curve has crossed slower moving average curve. However, US monthly job data to be released on Friday evening will impact market next week.

Weekly Technical view on STI 

Sup 1	Sup 2	Sup3	Res 1	Res 2	Res 3
2852	2805	2760	3000	3050	3116

Technical Indicators:

RSI for this week is 20.471 with CCI at -192.043. Besides, difference line of MACD -106.253 and crossed its signal line -53.269.

STI COUNTER SPECIFIC NEWS

• Del Monte squeezes Q1 loss to US$12m.
• Sunlight Group was not going through with the acquisition of Alexander Resource Ltd (has become "technically insolvent").
• Singpost completed the acquisition of local self-storage facility operator Store Friendly Self Storage Group for S$12 million.
• Stats Chip outlook is now revised to negative; 'BB' rating is affirmed.
• CapitaLand's Ascott wins four contracts in Asia.

GLOBAL FACTORS & WORLD INDICES:

• Hong Kong shares ended 0.45 per cent lower on Friday, bringing an end to another painful week for the Hang Seng Index, owing to ongoing concerns about the Chinese economy.
• AUTHORITIES in Singapore, Malaysia and Thailand have published a handbook to guide companies that hope to offer securities across borders through a streamlined review framework.
• UOL Group, Yangzijiang Shipbuilding and SATS will replace Jardine Matheson, Jardine Strategic and Olam International as constituents of the Straits Times Index (STI). This comes after the conclusion of the semi-annual review.
• Japanese stocks slipped to seven-month lows, with the Nikkei posting its biggest weekly fall in almost a year and a half with speculators dumping futures while investors stayed risk-averse ahead of the release of a key U.S. jobs report later in the day.
• Swiss consumer prices fell in August by the most in 56 years, the strongest indication yet of the pricing pressure from Switzerland's strong currency and low oil prices.
• Malaysia saw exports in July increase 3.5 per cent from a year earlier as demand for electrical and electronic goods surged, government data showed on Friday.
• Andy Hall, one of the best-known oil traders who's bullish on prices, said the decline in the oil market isn't a repeat of 1998 or 2008. The absence of "extreme contango," which occurs when commodities prices close to delivery are cheaper than those to be delivered at later dates, suggests that "the world, whilst moderately oversupplied, is not awash in oil.
• Gold held declines from a two-day losing streak on Friday, ahead of a crucial US jobs report as traders waited for clues about the timing of a Federal Reserve rate hike.
• Oil prices eased in Asian trade on Friday as investors turned cautious ahead of US jobs data later in the day that is expected to play into the Federal Reserve's decision on the timing of any US rate hike.

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STI Technical Analysis & SGX Review with Market Forecast for 3 Sept

  Straits Times Index trades 0.2% higher at 2,887.04 in early trade, and ended 4.60 points or 0.16 % lower to 2878.10. STI came off from its intra-day peak of 2906.67 and low of 2877.49.

STI moved in tandem with the US futures market as traders tried to anticipate how Wall Street might perform during its Wednesday session. 

STI Day Performance

Open: 2897.76

High: 2906.67

Low: 2877.49

Close: 2878.10

Change(Points): -4.6

% Change: -0.16%

Volume: 1103.60 M

Rise: 163

Fall: 197

Unch: 431

LOCAL BOURSE

The first Singapore Savings Bond (SSB) will be issued on Oct 1, with those holding the bonds for the full 10 years earning an average interest rates per annum of 2.63%, according to the Monetary Authority of Singapore.

For those who redeem the bonds at an earlier date, the average return per year will range from 0.96% at the end of the first year to 2.53% at the end of year nine. Those who hold the bonds for five years will earn an average of 2.01% per annum.

STI LEVELS
Support 1	2840
Support 2	2805
Support 3	2765
Resistance 1	2930
Resistance 2	2986
Resistance 3	3029

Market forecast:

STI is expected to take side ways trend. Its support level is at 2840. if breaks this level it is expected to go up to level of 2800, it has its resistance at 2930. Market sentiment still is bearish due slow down of China’s economy as the manufacturing data is lower than expected.

STI COUNTER SPECIFIC NEWS

• CapitaLand is flat trading at $2.80 after announcing that its serviced residence unit, The Ascott, has won new contracts to manage over 850 units in four growing Asian markets.
• OCBC Investment Research says macro headwinds and tough conditions in the retail business lead it to maintain a neutral rating on the consumer sector.
• Shares in Chinese Global Investors by rose as much as 16% early on Wednesday, a day after the firm said it was selling its wholly owned subsidiary, Hitchins International, for $3.28 million to the current management of the unit.
• Singapore's telecommunications sector is set for disruption, making it a risky one to be in at this juncture. The bank reviews recent news in the sector which it says points to the risk of increased competition that - albeit minor at this stage - could pose risks to incumbents.

GLOBAL FACTORS AND WORLD INDICES:

• Asian stocks witnessed a fresh round of volatility on Wednesday, as further evidence of slowing growth in China's economy brought a new bout of uncertainty to global markets.
• The Indian economy is still expected to grow around eight per cent in the fiscal year to March 2016, said the chief economic adviser at the finance ministry on Tuesday.
• Malaysia's ringgit fell the most in more than a week and bonds dropped as a slump in Brent crude prices clouds the outlook for government finances in the oil-exporting nation.. Brent decreased 1.9 per cent after falling 8.5 per cent on Tuesday in its biggest decline since 2011 before US stockpiles data.
• Hong Kong stocks sank 1.18 per cent by the end of a roller-coaster session Wednesday with traders gripped by ongoing concerns about China's economic crisis that has rattled world markets. The benchmark Hang Seng Index fell 250.49 points to close at 20,934.94 on turnover of HK$96.05 billion (S$17.52 billion).
• SINGAPORE shares rose by a modest 0.4 per cent, with the Straits Times Index up 11.15 points to 2,893.92 following a weak opening in Japan.
• Oil prices fell around 2 per cent in Asian trade on Wednesday, as a stronger-than-expected build in US crude oil stocks and weaker US manufacturing data fuelled a rout in prices that started in the previous session..
• World oil prices tumbled on Tuesday as poor manufacturing data in China, the world's largest energy consumer, hammered the outlook for demand and shook market confidence.
• Gold edged lower on Wednesday with appetite for the metal soured by a firmer dollar despite weaker Asian equities, and failure to breach a key resistance and a looming US rate hike suggest more downside risk.

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