Daily Morning Note – 26 March 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
Media reports are that Uber Technologies has reached an agreement to sell its Southeast Asian ride-hailing business to rival Grab and could announce the deal as early as Monday (Mar 26) morning in Singapore. The agreement could include all of Uber’s operations in Southeast Asia as well as Uber Eats in the region.
The U.S. and South Korea reached an agreement on revising the allies’ six-year-old bilateral trade deal and President Donald Trump’s plan to impose tariffs on imported steel.
On last Friday, the S&P 500 Index dropped 2.1 percent to 2,588.24 as of 4:02 p.m. New York time, while the Dow Jones Industrial Average slumped 1.8 percent to 23,532.30 and the Nasdaq Composite Index dropped 2.4 percent to 6,992.67.
PT Atlas Resources Tbk, a coal producer listed on the Indonesia Stock Exchange, has filed a lawsuit in Indonesia against Noble Group seeking compensation in excess of US$260 million.
A total of 315 units, or 70%, of the 450 units released of The Tapestry by City Development Limited have been snapped up this weekend. The average price per square foot is S$1,310.
Public tranche in Ayondo IPO nets subscription of 4½ times. The IPO is priced at S$0.26 a share and will trade on March 26.
Rowsley Ltd has entered into a facility agreement for S$130 million of new credit facilities. These comprise a S$100 million 18-month term loan facility and a S$30 million revolving loan facility with Malayan Banking Berhad, Singapore Branch.
Far East Group Limited announced that the Company has issued a conditional option to purchase agreement to Chang Hua Construction Pte Ltd, an independent and unrelated third party, to grant an option to it for the sale of the property situated at 112 Lavender Street Singapore 338728. The Property is a freehold estate and it serves as the regional headquarters of the Group’s operations. The Property has a net book value of S$4.2 million as at 31 December 2017.
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. |
