Daily SGX Market News by EPIC RESEARCH 21th February 2014

Singapore’s domestic wholesale trade increased 3.3% in the fourth quarter 2013. Excluding petroleum, domestic wholesale trade grew by 5.9% compared to the fourth quarter 2012. After adjusting for price changes, domestic wholesale trade registered a YOY increase of 3.2%. On a YoY basis, the general wholesale trade sector reported the largest growth of 32.7% in domestic sales in Q4 2013. In contrast, domestic sales of the household equipment & furniture and metals, timber & construction materials sectors contracted by 17.7% and 2.6% respectively.

Enterprise (IE) Singapore assisted 26,000 companies in their trade and overseas investments last year, with total financial support disbursed hitting S$40.5 million.

Singaporean banks should remain resilient in the face of a more challenging operating environment this year, following solid results in 2013, says Fitch Ratings.

SINGAPORE’S Ministry of Trade and Industry (MTI) expects the economy to grow 2-4 per cent in 2014, keeping to the forecast it first put out in November 2013 as it highlights that the tight labor market may continue to weigh on growth.

BUY OLAM INTERNATIONAL ABOVE 1.720 TG 1.760, 1.810, 1.870 SL 1.660

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