Friday, September 24, 2010


SGX: CIMB upgrades from neutral to outperform with target of $9.75 based on DDM. Raise EPS by 8-13% mostly on ADR initiative. Highlight that recent initiatives to increase range of products & participants will improve trading velocity of exchange…DBSV also upgraded stock to buy with TP of $9.60 2 days ago.

On separate note, Exchange announced it is enhancing SBL services to bring additional benefits for investors & SGX CDP a/c holders. Highlights that enhanced services means >80% or >600 stocks listed both on main board & Catalist are eligible for lending or borrowing via CDP, enabling retail depositors to gain a return on their stockhldgs and access to institutional borrowers with access to large pool of stocks, thus improving overall liquidity.

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