Daily Morning Note – 23 February 2018
WEEKLY MARKET OUTLOOK WEBINAR
Register HERE for MONDAY’s 11.15am webinar if you have not already done so.
Archived webinars available.
BREAKING NEWS
Sembcorp Industries Ltd announced FY2017 results and unveiled a new strategy for the future. Summary of Sembcorp’s FY2017 Financial Results: 1.Turnover at S$8.3 billion, up 6%; 2.Profit from Operations* at S$795.3 million, down 13%; 3.Net Profit at S$230.8 million, down 42%. Highlights of the new strategy: 1. Reposition the Utilities business across certain developing and developed markets (Singapore & Southeast Asia; China; India and the UK).
Divest a number of peripheralutilities assets and propose IPO of Sembcorp Energy India Limited. 3.Double its renewables portfolio to approximately 4,000 megawatts by 2022. 4. Continue to support Sembcorp Marine through the cycle.
Sanli Environmental Limited – Sanli Environmental Limited (“Sanli” and together with its subsidiaries, the “Group”), an environmental engineering company with more than ten years of experience and over 1,000 completed projects in the field of water and waste management under its belt, has announced that it has secured four new Engineering, Procurement and Construction (“EPC”) contracts (“Contracts”) worth a total of S$18.1 million, bringing the Group’s order book to S$121.3 million.
SUTL Enterprise Limited – SUTL Enterprise Limited (“SUTL Enterprise” or the “Group”), a leading marina infrastructure developer and owner of the ONE°15 brand, has entered into a conditional sale and purchase agreement (the “Agreement”) to acquire a 60% stake in Makham Bay Marina Co., Ltd. (“MBM”) for S$5.6 million. The project’s total construction cost is estimated to be S$24.3m.
Source: SGX Masnet, 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
| Disclaimer |
| 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 “as 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. |
