Daily Morning Note – 10 September 2018


Register HERE for MONDAY’s 11.15am webinar.

Archived webinars available.


U.S. stocks closed lower Friday to retreat for the week after President Donald Trump said the U.S. had tariffs ready to go on another $267 billion in Chinese goods, on top of tariffs on $200 billion in goods the administration is now preparing. The Dow Jones Industrial Average DJIA, -0.31% bounced back from its intraday low to end 79.33 points lower at 25,916.54, a loss of 0.3% The S&P 500 index SPX, -0.22% fell 6.37 points, or 0.2%, to 2,871.68 in bumpy action, while the Nasdaq Composite COMP, -0.25% slid 20.18 points, or 0.3%, to 7,902.54. For the week, the Dow edged down 0.2%, the S&P 500 shed 1%, and the Nasdaq slumped 2.6%. The technology sector, meanwhile, extended losses, falling 2.9% last week.

Among the major decliners, Microsoft Corp. MSFT, -0.49% logged a weekly drop of 3.7%, while Google-parent Alphabet Inc. GOOGL, -0.54% GOOG, -0.56% slid 4.4%. Facebook Inc. FB, +0.31% was among the biggest losers, tumbling 7.2%. The dollar climbed and Treasuries fell on data showing the U.S. added 201,000 jobs and wage gains picked up, bolstering the prospect for further Fed hikes. The 10-year Treasury yield pushed above 2.94%.


Qian Hu Corporation Limited – Evolving to Aquaculture for growth (Site Visit)

Analyst: Richard Leow

– Embarked on new aquaculture business with the objective of producing
antibiotic-free sustainable edible fish

– Targeting aquaculture business to be many times bigger than ornamental fish

– Revenue contribution since 3Q17 from new aquaculture business has not
been meaningful yet


Star Attraction Limited (the Offeror) has extended the closing date of of its voluntary unconditional general offer for all the issued and paid-up ordinary shares in the share capital of Wheelock Properties (Singapore) Limited from 5:30 p.m. on 7 September 2018 to 5:30 p.m. on 21 September 2018. As at 5:30 p.m. on 7 September 2018, the Offeror has received valid acceptances amounting to 1.37% of the total number of issued Shares of the Company. The Offeror’s resultant shareholdings is 77.58%.

Hock Seng Food Pte Ltd, a wholly-owned subsidiary of Hosen Group Ltd, has entered into a contract for the demolition of the existingone-storey warehouse adjacent to the main office cum warehouse building at 267 Pandan Loop Singapore 128439 and construction of a new six-storey building for the purposes of future business expansion and as a warehouse at an estimated contract sum of S$7,200,000.

Wee Hur Holdings Ltd. has acquired a freehold office building located at 124Waymouth Street, Adelaide SA 5000, Australia for a total consideration of A$9.275 million.

United Engineers Limited has been awarded a land parcel at Dairy Farm Road by Urban Redevelopment Authority for $368.8 million. The Group plans to develop the 99-year leasehold land site, which has a land area of about 19,648 sqm, into a prime development comprising about 450 residential units, childcarecentre, supermarket, food court and F&B/retail shops.

Source: SGX Masnet, Bloomberg, Reuters, The Business Times, Channel NewsAsia, 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

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.


Contact us to Open an Account

Need Assistance? Share your Details and we’ll get back to you