Daily Morning Note – 4 April 2018
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BREAKING NEWS
The U.S. proposed imposing 25 percent tariffs on about $50 billion worth of Chinese-made products, focusing on high-tech items from semiconductors to lithium batteries while seeking to minimize the impact on American consumers. China has condemned the U.S. announcement of tariffs on $50 billion worth of Chinese imports and said it would “take corresponding measures of equal scale and strength against U.S. products.”
A joint venture (JV) between Banyan Tree Holdings and Chinese real estate developer Vanke has acquired all the hotel assets of the Banyan Tree China Hospitality Fund for 1.35 billion yuan (S$282.2 million) as part of plans to form a strategic partnership in China.
The eurozone’s manufacturing boom stumbled for a third month in March as optimism waned and demand ebbed, a survey showed on Tuesday, but output remained robust and expansion was still broad-based across the region.
Tien Wah Press Holdings, the Malaysia-listed subsidiary of Singapore-listed New Toyo International Holdings, is seeking shareholder approval to diversify into property development from its core business of printing and trading.
Ntegrator International Ltd has secured two contracts totalling approximately S$17.3 million from a regional service provider.
Plastoform Holdings Limited has given notice that the Company has recorded 3 consecutive years of losses. The Company could be placed on the watch-list by the Exchange after the quarterly review.
The World Bank Group’s International Finance Corporation (IFC) is taking a stake in a Yoma Strategic Holdings project to power rural communities.
Amplefield Limited has signed a memorandum of agreement for a joint venture to build a racecourse and racetrack in Ho Chi Minh City, Vietnam.
YuuZoo Corp is under investigation by the Commercial Affairs Department (CAD) for possible breaches of the Securities and Futures Act.
Source: SGX Masnet, The Business Times, Bloomberg, CNBC, Reuters, 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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