Daily Morning Note – 16 January 2018
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Dasin Retail Trust – Securing regular income from Chinese consumers
Recommendation: Buy (Initiation), Last Close Price: S$0.85
Target Price: S$0.98, Analyst: Phillip Research Team
– 16% organic growth (CAGR) for next two years from higher rental revenue.
– Substantial inorganic ROFR pipeline that can quadruple Dasin’s assets.
– Tapping on the vibrant Zhongshan economy.
– Initiate coverage with BUY and target price of S$0.98, 26.5% upside.
800 Super Holdings Ltd – Gaining market share
Recommendation: Accumulate (Downgrade), Last Close Price: $1.25
Target Price: $1.40 (previously $1.43), Analyst: Richard Leow
– Awarded $S$1.93mn PWC contract for Pasir Ris-Bedok Sector with the lowest
– Gained market share by dislodging incumbents
– Downgrade to Accumulate due to 6.4% favourable price movement since our
last report, and lower target price of $1.40
Hang Seng Index – Daily timeframe – Bearish
– The bearish rejection on 15/01/18 is signalling some form of weakness.
– With the extremely overbought RSI and bearish price action around the
critical 31,897 all-time high resistance, expect the HSI to enter into a
correction to retest the 20, 60 day moving average and uptrend line before
the bulls regain control of the long-term uptrend.
For more information and additional disclosures, refer to the link here.
iFAST Corporation Ltd announced that the Company has increased its equity interest in the Company’s associate company, Pecuniam Pte. Ltd. (“Pecuniam”) from 21.42% to 24.98%. Pecuniam is an investment-holding company which owns iFAST India Investments Pte Ltd, a Singapore-incorporated company, which in turn owns a 74.99% stake of iFAST Financial India Pvt Ltd (“IFI”), an India-incorporated company engaged in the distribution of investment products including mutual funds in India
QT VASCULAR LTD. announced the allotment and issuance of an aggregate of 55,512,000 new ordinary shares in the capital of the Company pursuant to the Agreement with GEM Global at an issue price of S$0.01125 per New Share. The Issue Price was arrived at based on a 10% discount to the average daily VWAP of S$0.0125 per Share during the Evaluation Period which comprised mainly the trading weeks from the last week of November 2017 to the first week of January 2018. The Issue Price is higher than the Sales Price, in accordance with the terms of the Agreement.
HG Metal Manufacturing Limited announced that its subsidiary, Oriental Metals Pte Ltd has on 15 January 2018 accepted a letter of offer from JTC Corporation to renew the lease for the property known as Private Lots A21285 and A2185B (also known as Lot 04423V of Mukim 06) at 28 Jalan Buroh, Singapore 619484
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
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