Daily Morning Note – 26 July 2018
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RESEARCH REPORTS
Mapletree Industrial Trust – Ramping-up in Hi-Tech
Recommendation: Neutral (Maintained), Last Close Price: $2.02
Target Price: $2.09 (unchanged), Analyst: Richard Leow
– Gross revenue and DPU were within expectations, meeting 25.6% and 24.8%
respectively of our FY19 full year estimate
– Acquired 7 Tai Seng Drive on June 27; to be upgraded to Hi-Tech Building
– Build-to-suit data centre at 12 Sunview Drive obtained its TOP on July 13,
renamed to Mapletree Sunview 1
– Maintain Neutral; unchanged target price of $2.09
BREAKING NEWS
The Dow Jones Industrial Average rose 172.16 points to close at 25,414.10 after falling more than 100 points earlier in the session. The Nasdaq Composite jumped 1.2 percent to an all-time high of 7,932.24 as Google-parent Alphabet, Facebook and Amazon all jumped.
Dow Jones reported, citing an EU official, that the EU has agreed to import more U.S. soybeans. Dow Jones also said the EU agreed to lowering tariffs on industrial goods.
The Singapore Exchange (SGX) said on Tuesday that it has resumed talks with India’s largest bourse, the National Stock Exchange of India (NSE), on the potential collaboration in India’s fledgling finance hub, the Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC).
The Cyber Security Agency of Singapore (CSA) had uncovered that hackers had been stealing the personal data of 70,000 members of the Securities Investors Association of Singapore (Sias) in 2013.
Temasek-backed Clifford Capital on Wednesday said it has successfully priced Asia’s first infrastructure project finance securitisation, with an issue size of US$458 million.
SINGAPORE Press Holdings (SPH) will install a new digital press by HP at its Jurong printing facility by the first quarter of 2019 as part of a strategy to enhance digital printing solutions for advertisers and brand owners.
AirBNB saw half of its New York bookings slashed as New York City council members voted to require them to hand over the names and addresses of its hosts in the city.
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
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