News & Research

Market Overview

*15mins delayed

Daily Morning Note – 17th August 2017

WEEKLY MARKET OUTLOOK WEBINAR

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

Our webinars are an opportunity for clients, remisiers, and sales staff, to ask questions on our coverage and the market’s direction. We hope to have as many of you as possible.

In this week’s webinar, we will be presenting on company results under our coverage, namely Ho Bee Land, Banyan Tree Holdings, City Developments, UOL Group, Chip Eng Seng, ComfortDelGro, Cogent Holdings, China Everbright Water, Centurion, Singapore O&G, Thai Beverage, and Fraser and Neave.

Archived webinars available.

RESEARCH REPORT

Old Chang Kee Ltd – New facilities to commence 3Q18
Recommendation: Buy (Maintained), Last Close Price: S$0.79
Target Price: S$0.98, Analyst: Soh Lin Sin
• 1Q18 revenue was in-line with expectation but earnings missed on costs pressures
• Expect full integration and commencement of Singapore factories at Woodlands Terrace by 3Q18; New capacity to boost product innovations and margins
• Maintained Accumulate with unchanged DCF-derived TP of S$0.98

CNMC Goldmine Holdings Limited – Expect a turnaround next year
Recommendation: Neutral (Downgraded), Last Traded Price: S$0.27
Target Price: $0.29, Analyst: Chen Guangzhi
• Carbon-in-leach (CIL) plant is under construction
• Ongoing exploration for Pulai and KelGold project
• Low ore grade dragged the performance
• Possible turnaround by CIL in FY18
• Long-term perspective: monetising on minerals from Pulai and KelGold

BREAKING NEWS

Creative Technology Limited – The Company and its subsidiary QMax Communications Pte Ltd had sought to recover damages and all losses suffered in relation to the wireless broadband project against the vendor, Huawei International Pte Ltd (“Huawei”), for misrepresentation or alternatively, for breach of contract. Huawei had, in turn, filed a counterclaim seeking relief which included damages for the alleged wrongful rescission and/or termination of the contract. Further to the above-mentioned disclosures, the Court issued its judgment on 16 August 2017.

Spackman Entertainment Group Limited – Spackman Entertainment Group Limited wishes to announce that its wholly-owned subsidiary, Frame Pictures Co., Ltd. has secured the contract to supply camera systems and equipment for the upcoming crime thriller movie, DECEPTIVE MURDER. The total contract value of this project is KRW220 million (approximately US$193,785).

Yanlord Land Group Limited – Moody’s Investors Service says that Yanlord Land Group Limited’s strong profit margin, interest coverage ratio and liquidity support its Ba2 corporate family rating and the stable outlook on the rating.

Far East Group Limited – The Board of Directors of Far East Group Limited wishes to announce that the Company has, on 16 August 2017, entered into an option to purchase agreement with Swee Builders Pte. Ltd. (the “Purchaser”), an independent and unrelated third party, to grant an option to the Purchaser for the sale of the property situated at 5 Third Lok Yang Road, Singapore 628000.

Sarine Technologies Ltd – Sarine Technologies Ltd is proud to announce that Golden Dew, the prestigious South Korean jewellery retail chain, formally launched the Sarine Profile™ in-store diamond display platform in all its 72 stores across the country last week, and will also be adopting the Sarine Connect™ diamond jewellery search and display app.

Source: SGX Masnet, Phillip Securities Research

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

Disclaimer
The information contained in this email and/or its attachment(s) is provided to you for information only and is not intended to or nor will it create/induce the creation of any binding legal relations. The information or opinions provided in this email do not constitute an investment advice, an offer or solicitation to subscribe for, purchase or sell the e investment product(s) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. Accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of this information. Investments are subject to investment risks including possible loss of the principal amount invested. The value of the product and the income from them may fall as well as rise. You may wish to seek advice from an independent financial adviser before making a commitment to purchase or investing in the investment product(s) mentioned herein. In the event that you choose not to do so, you should consider whether the investment product(s) mentioned herein is suitable for you. PhillipCapital and any of its members will not, in any event, be liable to you for any direct/indirect or any other damages of any kind arising from or in connection with your reliance on any information in and/or materials attached to this email. The information and/or materials provided “as is” without warranty of any kind, either express or implied. In particular, no warranty regarding accuracy or fitness for a purpose is given in connection with such information and materials.
Confidentiality Note
This e-mail and its attachment(s) may contain privileged or confidential information, which is intended only for the use of the recipient(s) named above. If you have received this message in error, please notify the sender immediately and delete all copies of it. If you are not the intended recipient, you must not read, use, copy, store, disseminate and/or disclose to any person this email and any of its attachment(s). PhillipCapital and its members will not accept legal responsibility for the contents of this message. Thank you for your cooperation.