Daily Morning Note – 18 May 2018

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RESEARCH REPORT

Golden Energy and Resources Ltd – Strong production on track
Recommendation: BUY, Last Done Price: S$0.37
Target Price: S$0.48, Analyst: Chen Guangzhi
– Benefited from the buoyant coal prices in 1Q18
– Upgrading the port loading capacity
– Cash cost was higher than expected in 1Q18


BREAKING NEWS

Metro Holdings is growing its presence in Shanghai by investing 35% equity to acquire 90% stake of a landmark mixed-use commercial building, Shanghai Plaza, for a total investment value of RMB 2,907 million (S$613 million).

Hyphens Pharma International announced that it had received “strong interest” from investors for its initial public offering (IPO) in conjunction with its Catalist listing. The public offer was 152 times subscribed.

Sembcorp Environment, a wholly-owned subsidiary of Sembcorp Industries, has signed an agreement to divest its assets and businesses under its medical waste division in Singapore to TEE Medical Services, for S$20 million.
Sembcorp’s medical waste division specialises in the treatment and disposal of biohazardous and pharmaceutical waste and its new owner TEE Medical Services is a 50-50 joint venture between TEE Infrastructure and Asia Enviro Services.
Asia Enviro Services is a wholly-owned subsidiary of Dymon Asia Private Equity (S.E. Asia) Fund II Pte. Ltd.

Amid calls for automatic lease extensions for older public flats, Minister for National Development Lawrence Wong has said that the issue involves serious trade-offs and ramifications.

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

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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