Daily Morning Note – 1 February 2018
WEEKLY MARKET OUTLOOK WEBINAR
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RESEARCH REPORT
Aspen (Group) Holdings Ltd – Entering into an opportune time
Recommendation: Not Rated (Site Visit Note), Last Close Price: S$0.22
Analyst: Phillip Research Team
– Aspen Vision City (AVC) to create new communities and opportunities.
– Benefiter of enlarged focus on affordable housing.
– Strategic partnership with Ikea in Batu Kawan, Penang.
BREAKING NEWS
Chip Eng Seng Corporation Ltd. has been awarded a S$168mn design and build contract by HDB. Construction period is 32 months from the date of obtaining approval from HDB.
Keppel Corporation Ltd’s subsidiary Keppel Urban Solutions has signed an MOU with Envision, that will see both companies leverage each other’s expertise and resources to further the global push for new and clean energy, and smart cities.
Singapore Exchange Ltd. has proposed updates to rules on mineral, oil and gas companies for greater relevance and alignment.
Thakral Corporation Ltd. has invested in another office building in Osaka, in the heart of Osaka’s Central Business District, with a gross building area of 5,618sqm and NLA of 3,869sqm.
Singapore eDevelopment Ltd. expects to report a net loss in its unaudited financial statements for FY17 due to higher operating, marketing, research and development expenses, amongst other reasons.
Global Invacom Group Ltd. launched an office in Japan, which will provide market support, customer service and other consulting services related to corporate brand development for the Group’s Malaysian operation to support revenue from new territories. The Group expects the launch to strengthen sales of Sat Comm products in the important developing Asian and Australasian markets.
Artivision Technologies Ltd. announced the extension of exclusivity period to enter into definitive agreements for the proposed acquisition of Mobile Credit Payment Pte Ltd. The Exclusivity Period will expire on 30 April 2018.
Singapore Medical Group announced the entry into the Australian market with a majority stake acquisition of leading IVF specialist group City Fertility Centre.
Cache Logistics Trust announced the acquisition of a portfolio of nine warehouses in Australia, for A$177.6mn
MM2 Asia Ltd.’s Board of Directors has approved the spin-off of Vividthree as an initial step for Vividthree to seek listing on the Catalist.
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
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