Daily Morning Note – 11 January 2018
WEEKLY MARKET OUTLOOK WEBINAR
Register HERE for MONDAY’s 11.15am webinar if you have not already done so.
Archived webinars available.
RESEARCH REPORT
Singapore Banking Monthly – 2017 ended with a strong performance in December
Analyst: Jeremy Teong
– Singapore November domestic loans growth was up 7.1% YoY. Demand driven
by property related business loans.
– Hong Kong November domestic loans growth was 14.8% YoY.
– SIBOR and HIBOR spiked up at the end of December signalling a further
increase in mortgage rates in Hong Kong and Singapore in January 2018.
– Maintain Accumulate for the Singapore Banking Sector.
TECHNICAL PULSE
Singapore O&G Ltd – Daily timeframe – Bearish – Stopped out
– Our trade in Singapore O&G Ltd since 14/09/17 has been stopped out at 0.420
resulting in a -14.3% loss.
– The bearish break and close below the 0.435 support area on 10/01/18 with
increasing volume is a bearish sign for further downside.
For more information and additional disclosures, refer to the link.
BREAKING NEWS
Libra Group Limited had entered into a conditional sale and purchase agreement to acquire 51% of the issued and paid-up shares in YC Capital Consolidated Sdn. Bhd.
Sanli Environmental Limited has secured three new contracts worth a total of S$10.0mn, bringing the Group’s order book to S$114.3mn. These contracts are from both the private and public sectors, and are expected to contribute to the Group’s revenue for the financial year ending 31 March 2018.
OUE Lippo Healthcare Limited has entered into a placement agreement with Browny Healthcare Pte Ltd to raise S$78.75mn via placement of 562.5mn new ordinary shares at issue price of S$0.14per share. Browny Healthcare is an indirect wholly owned subsidiary of Itochu. Upon completion, Itochu will have a 25.3% stake in OUELH.
BreadTalk Group Limited will issue S$100mn 4.00% notes due 17 January 2023 pursuant to the S$250mn Multicurrency Medium Term Note Programme. Oversea-Chinese Banking Corporation Limited and Standard Chartered Bank are the joint lead managers and joint bookrunners for the Notes.
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
| 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. |
