Daily Morning Note – 15 March 2018
WEEKLY MARKET OUTLOOK WEBINAR
Register HERE for MONDAY’s 11.15am webinar if you have not already done so.
Archived webinars available.
TECHNICAL PULSE
Yongnam Ltd – Daily timeframe – Bullish
– There was a strong bullish break above the 20, 60 day moving average and
0.31 range high on 14/03/18 with increasing volume suggests the resumption
of the uptrend.
– Expect price to head higher next to test the 0.340 resistance area followed by
0.365.
For more information and additional disclosures, refer to the link here.
BREAKING NEWS
Keppel DC REIT has entered into a contract with Dali Properties Limited to acquire the remainder of the 999-year (from 1 Jan2000) leasehold interests in the property located at Site 4033 – 4035 Citywest Business Campus, Naas Road, Dublin 24, for €30.0mn (c.S$48.1mn). Completion of the Acquisition is expected to take place within the first half of 2020.
Keong Hong Holdings was awarded a contract for the erection of part 4-storey and part 10-storey building with two basements for National Skin Centre and reconstruction of the existing 5-storey building with basement for National Healthcare Group Offices.
Vard Holdings Limited has secured a contract for the construction of one fishing vessel for Remøybuen AS in Norway. The contract value is c.NOK 60 million.
Spackman Entertainment Group Limited announced that BE WITH YOU opened #1 at the Korean box office, with total ticket admissions of 112,301 and gross box office revenue of US$805,500 (or KRW 857mn), on the first day of its wide release on 14 Mar-18. The Group has invested c.US$450,000 (or KRW500mn) into the abovementioned film.
S&P Global Ratings has raised its long-term corporate credit rating on Yanlord Land Group Ltd to ‘BB’ from ‘BB-‘, with a stable outlook. The rating upgrade reflected the company’s improving financial position, driven by substantial margin growth and prudent expansion strategies.
SingHaiyi Group Ltd. has allotted and issued an aggregate of 1,435,148,925 Rights Shares. The number of issued and paid up Shares in the Company has increased by 50%, from 2,870,297,850 to 4,305,446,775 Shares, excluding the Treasury Shares.
China Kangda Food Company Limited has issued a profit warning for the year ended 31 Dec17. The Group may potentially record a loss in FY2017 as compared to the profit recorded in FY2016, due to (i) the increase of the mortality rate of the chicken resulting from the bad weather in 2017; and (ii) the increase in administrative cost. FY2017 financial results is expected to be released by 28 Mar18.
On the US end, the bankrupt Toys ‘R’ Us Inc is preparing to sell or close all 885 stores in its U.S. chain, risking up to 33,000 jobs, after failing to reach a deal to restructure billions of dollars in debt.
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
| 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. |
