Daily Morning Note – 17 July 2018

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RESEARCH REPORTS

Cisco Systems Inc. – Trading Note
Recommendation: Positive, Last done price: USD 41.78
Target price: USD 48.42, Analyst: Ho Kang Wei
– Entry Price: USD 41.78
– Company transition plan and strong financials


BREAKING NEWS

The United States on Monday launched five separate World Trade Organization dispute actions challenging retaliatory tariffs imposed by China, the European Union, Canada, Mexico and Turkey following US duties on steel and aluminum.

Malaysia’s former premier Najib Razak on Monday dropped three civil suits against investigators of a multi-billion dollar scandal at state fund 1MDB, two weeks after he filed the applications.

The global economy is still expected to grow at a solid pace this year, but worsening trade confrontations pose serious risks to the outlook, the International Monetary Fund (IMF) said Monday.

International Business Machines Corp (IBM) on Monday asked a US jury to award it US$167 million in a lawsuit accusing e-commerce marketplace operator Groupon Inc of using patented technology without authorisation.

UOL Group on Monday announced that it has acquired 180 apartments and ancillary facilities at Thamrin Nine’s Tower 2 for US$56.3 million from Indonesian developer PT Putragaya Wahana. It plans to develop the apartments into a 180-key Parkroyal Serviced Suites.

Singapore Technologies Engineering (ST Engineering) on Monday announced that its aerospace sector has secured new contracts worth about S$510 million in the second quarter of 2018 for services ranging from heavy maintenance to engine wash and aircraft interior reconfiguration.

Source: SGX Masnet, Bloomberg, Reuters, The Business Times, Channel NewsAsia, 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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