IForex Signal Update

#Forex Recommendation of 27 JAN. 2015

✔ We Hit The First Target ✔

■■ Buy EUR/USD Above -1.1222 TG: 1.1242/1.1272 SL 1.1192

#EUR/USD HITS 1ST TARGET PLEASE BOOK PARTIAL PROFIT

SGX IForex Recommendations

TRADING TIPS :

GBP/USD hit 1.5043 during European mornning trade, the pair’s highest since January 22; the pair subsequently consolidated at 1.5011, adding 0.13% Cable was likely to find support at 1.4947, the low of January 22 and an 18- month low and resistance at 1.5212, the high of January 22.Market sentiment was hit as Syriza’s victory sparked concerns over Greece’s future in the euro zone. The pound edged up against the U.S. dollar on Monday, but remained within close distance of recent 18-month lows as market sentiment weakened broadly following Greek anti-austerity Syriza party’s election win on Sunday. The pound shrugged off data on Friday showing that U.K. retail sales rose 0.4% in December, beating expectations for a 0.6% decline, after a 1.6% increase the previous month.

INTRADAY OUTLOOK

Support: 1.4941

Resistance: 1.5002

RECOMMENDATION:

1. Buy GBP/USD Above 1.5006-TG: 1.5026/1.5056 SL 1.4976

2. Sell GBP/USD Below 1.4937-TG: 1.4917/1.4887 SL 1.4967

INTRADAY OUTLOOK

Immediate Support: 1.1147

Immediate Resistance: 1.1218

RECOMMENDATION:

1. Buy EUR/USD Above -1.1222 TG: 1.1242/1.1272 SL 1.1192

2. Sell EUR/USD Below -1.1146 TG:1.1126/1.1096 SL 1.1176

SGX Stock Recommendations

MARKET UPDATES :

• OUECT’s FY14 DPU was in line, at 100% of our full-year forecast, and 4.4% ahead of its forecast in prospectus. The better performance was primarily due to better-than-expected occupancy and rental reversions, as well as lower utilities costs. We believe there is more room for OUEB to grow in FY15, as the expiring leases have an average rent of S$9-10psf/month as compared to the committed rent of S$11.22- 15.50psf/month for FY14 and average Grade A office rent of S$11.20psf/month.

• STI now trades close to its 13.7x (average) 12- mth forward PE level. Our year-end objective remains at 3600, pegged to 13.3x (-0.25SD) FY16E PE. Given that the index currently trades above our year-end PE valuation peg of 13.3x forward PE, we take the view that any further immediate upside is limited to 3450. Meanwhile, the ‘rising gap’ on STI’s daily chart last week places near-term support at 3380-3390.

• TEEI is an established integrated engineering, real estate and infrastructure group with operations spanning across Singapore, Thailand, Malaysia, Hong Kong and New Zealand. To unlock value for shareholders, TEEI has been spinning-off assets and listing them on an exchange. The company had completed the listing of its real estate subsidiary Tee Land on the SGX in Jun 13 and is currently working towards listing its 50%-owned associated company CMC Communications Sdn Bhd on the Catalist Board of SGX. CMC Communications is engaged in infrastructure engineering of the telecommunications industry including, outdoor and in-building construction, programme management and design engineering, IT services and outsourcing, and broadband wireless solutions within the cellular space.

• Tigerair – Key takeaways from management briefing-:Overall market demand is improving, driven by the recovery of traffic in key markets (e.g Bangkok flights were hurt by the political unrest, Philippines flights were hurt by typhoons, HK/China flights were hurt by falling Chinese tourist arrivals).Tigerair’s consolidation and capacity rationalization is helping to lift its passenger load factors (+6ppts y/y to 82%), average fares (+16% y/y to S$114.9) and yields (+5% y/y to 7.22cents). Management expects the y/y improvement in passenger yields  to continue as it continues to fine-tune its network and operations but it will also depend on market competition which remains fairly intense. No new aircraft scheduled for delivery in the coming year. However, Tigerair plans to bring back some of its A319 aircraft (which are currently idling) to replace the A320 aircraft that will be leased out.

• THE number of job vacancies in Singapore rose in the year to September 2014, with the shortfall greatest in the services industry.Job vacancies rose to 67,400, up 8.9 per cent from a year ago, as the labour market remained tight, said the Ministry of Manpower on Tuesday.Every one in four vacancies was for service and sales workers such as shop sales assistants, security guards and waiters, while associate professionals and technicians accounted for almost one in five jobs that was not filled.Within the services industry, the expansion of childcare and pre-schools, healthcare and tertiary institutes fuelled demand for workers in community, social and personal services. New shopping malls that opened also boosted hiring in wholesale and retail trade, accommodation and food services and administrative and support services.