Daily-sgx-report by Epic Research Singapore 17 Feb 2014

OCBC Bank reported a net profit after tax of S$715 million for the fourth quarter of 2013 (“4Q13”), 8% higher than S$663 million a year ago (“4Q12”). This was underpinned by a 22% year-on-year increase in net profit after tax from banking operations that included record quarterly earnings from Malaysian and Indonesian banking subsidiaries which grew 37% and 17% respectively in local currency terms.

Singapore Airshow 2014 wrapped up the trade segment of the six-day event with deals announced worth US$32 billion, surpassing the value of deals announced in 2012. Major announcements include contracts for Airbus, Embraer, Boeing and Rolls-Royce. This reinforces Singapore Airshow’s standing as one of the most important aerospace and defence exhibitions in the world.

Retail sales declined 5.5% in December 2013, mainly due

to lower motor vehicles sales. Excluding motor vehicles,

retail sales went up 0.3%. After seasonal adjustment,

retailers of motor vehicles and medical goods & toiletries

reported sales increases of 17.4% and 7.5% respectively

in December 2013 over November 2013.

BUY OLAM INTERNATIONAL ABOVE 1.580 TG 1.630, 1.670, 1.720 SL 1.530

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