Exxon Mobil announce the new chemical complex at Jurong Island. Including the previous project and project from Shell. Singapore is attracting major oil company to set up processing centre here.
"Implications – an obviously positive development for both the economy and Singapore’s petrochemical sector which the market has been eagerly awaiting for. Together with Shell’s Houdini project, SPT will keep the downstream engineering construction sector humming for the next 3 to 4 years with obvious benefits for players which have been servicing the likes of EM and Shell over the past 20 years or more. Our picks include Rotary Engineering (TP S$1.79), Hiap Seng Engineering (TP S$1.33) and Tiong Woon (S$1.15)." -- Comment from Kim Eng
The 3 companies were all my radar. Prefer to buy on dip. Although at this juncture, no one can see the bull coming back, we still have time to wait for something bad to happen. That is the time for bargain hunting.
Thursday, 6 September 2007
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