Daily Morning Note – 4 January 2018


Register HERE for MONDAY’s 11.15am webinar if you have not already done so.

Archived webinars available.


ComfortDelGro Corp Ltd – Earnings to bottom out in FY17e
Recommendation: Buy (Maintained), Last Close Price: $2.02
Target Price: $2.63 (unchanged), Analyst: Richard Leow
– Earnings to bottom in FY17e due to three factors: 1.) Recognition of higher
bus revenue, 2.) Narrowing of DTL losses and 3.) Strategic alliance with Uber.
– Maintain Buy; unchanged target price of $2.63


AsiaPhos Ltd – Daily timeframe – Bullish
– There was another strong bullish rejection off the 0.040 support area on
03/01/18 with surging volume signals the possibility of a bottom here.
– Expect price to make a rebound higher next to test the 0.056 resistance area
followed by 0.062.

For more information and additional disclosures, refer to the link here.


Contract manufacturer Venture Corporation is scheduled to join the Straits Times Index (STI) with effect from Jan 5, replacing Global Logistic Properties (GLP) which is being taken private. Venture was selected to join the STI as it maintained the highest market capitalisation of the STI Reserve as at market close on Jan 2.

Midas Holdings Limited – Midas Holdings Limited is pleased to announce that its joint venture company, CRRC Nanjing Puzhen Rail Transport Co., Ltd. (“南京中车浦 镇城轨车辆有限责任公司”) (“NPRT”) has secured three metro train car supply contracts worth RMB2.68 billion in the People’s Republic of China (“China” or the “PRC”). Midas has a 32.5% equity stake in NPRT, a Sino-foreign joint venture, engaged in the development, manufacture and sale of metro trains, bogies and their related parts.

Source: SGX Masnet, PSR

Clients of Phillip Securities can keep updated with Country Strategy and Singapore Sector Reports by logging into: www.poems.com.sg > STOCKS > Research

Read the research report(s), available through the link(s) above, for complete information including important disclosures

Important Information

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.


Contact us to Open an Account

Need Assistance? Share your Details and we’ll get back to you