Daily Morning Note – 18 July 2018

WEEKLY MARKET OUTLOOK WEBINAR

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RESEARCH REPORTS

Keppel DC REIT – Strengthened balance sheet to fuel inorganic growth
Recommendation: Accumulate (Maintained), Last Close Price: $1.35
Target Price: $1.45 (previously $1.51), Analyst: Richard Leow
– 3.62 cents DPU declared for 1H18, comprising 2.77 cents advance distribution
(1 January to 15 May) and 0.85 cents post private placement (16 May to 30
June)
– 1H18 revenue and DPU met 50% and 47% respectively, of consensus FY18
expectation
– Maintain Accumulate; new target price of $1.45 (previously $1.51)


TECHNICAL PULSE

Venture Ltd – Daily timeframe – Bullish
– The subsequent bullish follow through on 17/07/18 succeeded in breaking
above the downtrend line with increasing volume signals a reversal higher
next.
– Expect price to rebound higher next to test the 17.99 resistance area followed
by 18.50.

For more information and additional disclosures, refer to the link here.

BREAKING NEWS

The Federal Reserve will continue to raise rates gradually as the US economic outlook remains strong despite uncertainty over trade policy, Fed Chairman Jerome Powell said Tuesday.

The US dollar rose on Tuesday against a basket of major currencies following an upbeat economic assessment from the head of the US Federal Reserve, while world stocks climbed as a heavy week of corporate earnings also kicked into gear.

E-waste management company Metech International on Tuesday said that its solicitors have served a writ of summons on DBS Trustee, being the trustee of Mapletree Industrial Trust, for the recovery of rental at its premises at 65 Tech Park Crescent for the period Jan 26, 2015 to July 15, 2015. The claim on the rental sum amounts to about S$540,338.

Singtel on Tuesday said its subsidiary Amobee, a digital marketing technology company serving brands and agencies, has emerged the winner in the court-supervised auction to acquire certain assets from Videology for about US$101 million.

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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