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

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

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