Daily Morning Note – 20 March 2018

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BREAKING NEWS

Singapore’s fourth telco TPG Telecom announced that it intends to offer free mobile plans to Singapore’s elderly aged 65 and above at “no charge for the first 24 months”.

E-commerce giant Alibaba is pumping another US$2 billion into Lazada – raising the stakes in the fierce battle for South-east Asia’s online shoppers.

Guocoland and Hong Leong Group have won a bid to buy the Pacific Mansion condominium in River Valley for S$980 million, setting a new record among recent en bloc deal amounts. The purchase price works out to S$1,806 per sq ft per plot ratio.

Singapore Exchange Regulation Pte. Ltd has suspended trading in the shares of Yuuzoo Corporation Ltd. with immediate effect, after auditors could not verify certain items in the company’s financial statements.

Cosco Shipping International (Singapore) Co., Ltd. awarded a S$95mn contract to SH Design & Build Pte Ltd for the design and construction of the Jurong Island Chemical Logistics Facility.

Spackman Entertainment Group’s new production “Be With You” has surpassed the first week Korean box office record for a film in the melodrama romance genre by 23%, drawing total ticket admissions of 880,527 and gross box office revenue of US$6.7 million as of 18 March 2018.

Source: SGX Masnet, Phillip Securities Research

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