Daily Morning Note – 11 December 2017

WEEKLY MARKET OUTLOOK WEBINAR

Register HERE for TODAY’s 11.15am webinar if you have not already done so.

In this week’s webinar, we discuss the update of ComfortDelGro, sector updates of
Singapore coal and banking, Singapore strategy monthly updates, US trades updates,
and Phillip 20 monthly review.

Archived webinars available.

RESEARCH REPORT

ComfortDelGro Corp Ltd – From competitors to partners
Recommendation: Buy (Maintain), Last Close Price: $1.91
Target Price: $2.69 (Unchanged), Analyst: Richard Leow
– Entering into a JV by acquiring 51% stake in LCR from Uber
– Sale consideration of S$295mn based on NAV of 12,450 vehicles
– No changes to our forecast, pending more details and conclusion of the deal
– Maintain Buy; unchanged target price of $2.69

TECHNICAL PULSE

Wing Tai Ltd – Weekly timeframe – Bullish
– The subsequent bullish follow through on the week ended 08/12/17
succeeded in breaking price above the pullback line and 20 week moving
average signals the resumption of the uptrend next.
– Expect price to turn higher next to test the 2.40 resistance area followed by
2.50.

For more information and additional disclosures, refer to the technical pulse section
below.

BREAKING NEWS

Aoxin Q & M Dental Group Limited announced that Shenyang Xinao had completed the onshore share transfer of Aoxin Dawei.

Oxley Holdings Limited announced the soft opening of Mercure Singapore on Stevens. Located near to the Scotts Road and Orchard Road shopping belts, Mercure Singapore on Stevens has 518 guestrooms (including 10 suites), an all-day restaurant, an executive lounge, a fitness centre and a swimming pool.

ComfortDelGro Corp announced the tie up with Uber Technologies to acquire a 51% stake in its wholly-owned subsidiary, Lion City Holdings.

LHN Limited has received approval-in-principle for the dual primary listing on the stock exchange on Hong Kong Limited.

City Developments Limited has increased its offer to 620 pence per share to acquire the 34.8% of Millennium & Copthorne Hotels that it does not already own.

Source: SGX Masnet, PSR

Clients of Phillip Securities can keep updated with Country Strategy and Singapore Sector Reports by logging into: www.poems.com.sg > STOCKS > Research

Read the research report(s), available through the link(s) above, for complete information including important disclosures

Important Information

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