Daily Morning Note – 17 March 2020



U.S. futures had modest gains early in Asia after Wall Street stocks plunged the most since 1987, with President Donald Trump warning that the economic disruption from the virus could last into summer.

Futures pointed to declines of as much as 4% in Tokyo, with Hong Kong contracts also lower after the S&P 500 Index sank 12% and erased its gain for 2019. Australian equities advanced after tumbling almost 10% Monday. U.S. stocks closed near their lows after Trump said the economy could tip into recession. Global central bank stimulus failed to mollify investors worried about the damage the coronavirus is inflicting on businesses. Treasuries rallied. Crude oil traded near $29 a barrel after plunging almost 10% in New York. The yen slipped.


CANCER diagnostics company Biolidics on Monday said it will undertake a share placement to raise about S$3.1 million to fuel its business expansion and pursue new growth opportunities.
The Catalist-listed company will issue about 17.9 million new ordinary shares at 17.5 Singapore cents each.

MAINBOARD-LISTED Yangzijiang Shipbuilding has inked a new US$1.15 billion shipbuilding contract for up to 10 vessels.
These orders for dual-fuel 14,000 TEU (20-foot equivalent unit) container ships have a contract value of US$115 million each, said Yangzijiang in a regulatory filing on Monday. Two of these vessels are firm orders, while the remaining eight are options. They are scheduled to be delivered from mid-2022.

MAINBOARD-LISTED Ho Bee Land’s subsidiary, HB Universal, has been awarded the concept and price tender to build, own and operate Biopolis Phase 6 at one-north by JTC Corporation, said Ho Bee in a statement on Monday.
Ho Bee’s S$223.6 million tender to JTC was the winning bid among four submissions. The tender closed on Dec 4, 2019.

A SUBSIDIARY of water treatment firm SIIC Environment has commenced commercial operation of a wastewater treatment plant project in Guangxi, China, while another subsidiary signed seven operation and maintenance (O&M) projects for other plants, the company said on Monday.

SEMBCORP Industries will be appointing a new group president and chief executive officer (CEO) to take over from Neil McGregor, who will retire on June 30, said the firm in a statement on Monday.

Wong Kim Yin, CEO of leading utilities provider SP Group, will assume Mr McGregor’s role from July 1, 2020.
Mr Wong has more than 20 years of experience in the energy sector and in investment management. Formerly the senior managing director of investments at Temasek International, he was responsible for investments in various sectors, including the energy, transportation and industrial clusters.

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


Xiaomi Corp

Recommended Action: Technical BUY

Xiaomi (HK: 1810) bearish sentiment will continue further based on the technical

Read more technical reports


Webinar Of The Week

Market Outlook: (PSR) City Development Limited, CapitaLand Limited, Dasin, EC World, REITS & Banking Monthly, SG Weekly & Technicals

Date: 16 March 2020

For more on Market Outlook

Phillip Research in 3 minutes: #18 – Singapore Budget 2020

Updates summarised in 3 minutes

For more videos on Phillip in 3 Mins

Read the research report(s), available through the link(s) above, for complete information including important disclosures Important Information

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 揳s 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.


Contact us to Open an Account

Need Assistance? Share your Details and we’ll get back to you