Daily Morning Note – 15 March 2018
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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
For more information and additional disclosures, refer to the link here.
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
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