Daily Morning Note – 16 January 2018
WEEKLY MARKET OUTLOOK WEBINAR
Register HERE for MONDAY’s 11.15am webinar if you have not already done so.
Archived webinars available.
RESEARCH REPORT
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
bid
– 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
TECHNICAL PULSE
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.
BREAKING NEWS
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
| 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. |
