Daily Morning Note – 13 March 2018

WEEKLY MARKET OUTLOOK WEBINAR

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TECHNICAL PULSE

SingPost Ltd – Daily timeframe – Bullish
– The bullish follow through on 12/03/18 succeeded in closing price back above the
20 day moving average and pullback line with increasing volume suggests the
resumption of the uptrend next.
– Expect the uptrend to resume next for price to test the 1.45 resistance area
followed by 1.55.

For more information and additional disclosures, refer to the link here.

BREAKING NEWS

January Retail Sales: Retail sales (seasonally adjusted) decreased 5.4% in January 2018 over the previous month. This was due mainly to the large decline in motor vehicle sales. Excluding motor vehicles, retail sales declined by a smaller 1.5%. Retail sales decreased 8.4% in January 2018 compared to January 2017 when Chinese New Year was celebrated. Excluding motor vehicles, retail sales declined 8.1%.

Vividthree Productions Pte. Ltd., a subsidiary of mm2 Asia Ltd., has entered into a binding term sheet with the IP rights owner of “Train to Busan”-Contents Panda, to develop a virtual reality tour show based on the highest grossing Korean film in Singapore.

Lifebrandz Ltd. has entered into a non-binding Memorandum of Understanding for a potential acquisition of Ramen Champion Pte. Ltd. for an indicative consideration of S$4mn. Ramen Champion operates 3 outlets in Singapore, developing ramen “theme parks” serving food and beverages, such as Japanese ramen.

Singapore Telecommunications Limited has subscribed 85.45mn new equity shares of Bharti Telecom Limited, a promoter company of Bharti Airtel Limited, for c.INR26.5bn (or c.S$539.4mn) in cash. Bharti Airtel is a listed company on Bombay Stock Exchange Limited and the National Stock Exchange of India Ltd. Following completion of the Transaction, Singtel’s interest in the share capital of Bharti Telecom increased from 47.17% to 48.90%; including its direct shareholding in Bharti Airtel, Singtel’s effective interest in Bharti Airtel will increase from 38.64% to 39.51%.

Lian Beng Group Ltd a property (known as OCN Building) at 381 Joo Chiat Road, Singapore 427621 for an aggregate purchase consideration of S$27mn plus GST. The property is a acquire to 4-storey commercial building with attic and basement car park, with a gross floor area of c.2,296 sqm.

JEP Holdings Ltd. every 4 existing ordinary shares into 1 ordinary share. The share consolidation exercise is expected to reduce consolidate proposed to volatility of the Share price and to increase in the market interest and attractiveness of the Company and its shares.

Midas Holdings Limited announced the action plan and expected timeline for investigation and remedial actions.

Singapore Exchange and fintech firm Smartkarma will work together to roll out a cloud-based platform, named the C-Suite Pilot Program, that will bring analysts, investors and listed companies into a single network.

Source: SGX Masnet, 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

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