Daily Morning Note – 18 January 2018
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BREAKING NEWS
Singapore Technologies Engineering Ltd announced that its aerospace arm, Singapore Technologies Aerospace Ltd (ST Aerospace) secured new contracts worth about S$510m in the fourth quarter (4Q) of 2017 for services ranging from airframe maintenance and landing gears repair to pilot training.
Oversea-Chinese Banking Corporation Limited announced that it, through its subsidiary Lion Global Investors Limited, has acquired 37,020,000 ordinary shares in the registered capital of Maxwealth Fund Management Company Limited, a company incorporated in the People’s Republic of China, for a total cash consideration of RMB61.45 million.
Food Empire Holdings Limited announced that the Company’s wholly-owned subsidiary, Indus Coffee Private Limited will embark on an expansion of its manufacturing facility in India. The expansion will be funded through both internal and external resources, as follows: i) increase of additional capital of USD11,250,000.00 in Indus Coffee by the Company’s whollyowned subsidiary, EpiQ Food Services Pte. Ltd.; and ii) banking facilities of USD30,000,000.00 granted to Indus Coffee by DBS Bank Ltd. and its branch office in Chennai, India.
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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