Daily Morning Note – 12 April 2018


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US Wall Street stocks sagged Wednesday as President Donald Trump threatened military action in Syria, while the Federal Reserve offered a generally upbeat outlook despite trade war fears.

Oil prices jumped on Wednesday, hitting their highest in more than three years on Wednesday after Saudi Arabia said it intercepted missiles over Riyadh.

Facebook founder Mark Zuckerberg emerged largely unscathed Wednesday from two days of high-stakes hearings that saw US lawmakers grill the billionaire over how the online giant feeds users’ data to advertisers and chide him over privacy rights.

Saudi Aramco, the world’s biggest oil producer, on Wednesday announced a US$44-billion deal to build a giant refinery complex on the west coast of India with three Indian firms.

Singapore Press Holdings (SPH) today announced the appointment of Mr. Ignatius Low (刘 意 庆) as its Chief Marketing Officer, in charge of advertisement solutions across the print, digital, radio and outdoor platforms, as well as content marketing. He takes over from Ms. Elsie Chua (蔡 国 玲), who has decided to retire from the company after 20 years of distinguished service.

SLB Development, the property development spin-off from mainboard-listed Lian Beng Group, registered its offer documents on April 11 for its proposed Catalist listing. It is offering 238 million shares at S$0.23 each, comprising eight million shares by way of public offer, and 230 million by way of placement.

ST Aerospace, the aerospace arm of Singapore Technologies Engineering (ST Engineering) announced on Wednesday it has secured some S$510 million in new contracts – ranging from heavy maintenance to engine wash – for the first quarter of 2018.

Kim Heng Offshore & Marine (O&M) Holdings said after Wednesday’s trading close that it has secured a one-year charter commencing this month for two anchor handling tug supply (AHTS) vessels.

Singapore-based ride hailing giant Grab has emerged as the top recipient of venture capital (VC) investment in the world for Q1 2018 with US$2.5 billion raised in its series G funding.

Source: SGX Masnet, Phillip Securities Research

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