Access Thai stocks with Singapore Depository Receipts

CP All Public Co. Ltd. the largest convenience store chain operations under the 7-Eleven trademark in Thailand, operating over 11,000 7-Eleven stores throughout the country. The company operates through the following segments: Convenience Stores, Cash and Carry and Others. If you wish to invest in CP All, you can consider investing through the CP All Singapore Depository Receipts (stock code: TCPD), listed on SGX. It offers investors an attractive combination of stability, liquidity, and convenience.

Singapore shares rode on the Wall Street rally last Friday to start the week on an upbeat note. The momentum, however, was tempered after the first trading hour, with some of the gains being clawed back. Gainers trumped decliners 294 to 233 in the broader market, with 1.83 billion securities worth a total of S$1.45 billion transacted.

Wall Street stocks dipped on Monday, pulling back a bit from multi-month highs reached last week after the United States avoided a catastrophic debt default. The Dow Jones Industrial Average dropped 0.6 per cent to 33,562.86. The broad-based S&P 500 shed 0.2 per cent to 4,273.79, while the tech-rich Nasdaq Composite Index declined 0.1 per cent to 13,229.43.

Top gainers & losers





Sembcorp Industries on Monday (Jun 5) announced that its unit Sembcorp Gas has signed a gas sales agreement to import natural gas piped from the West Natuna gas fields in Indonesia at an estimated value of S$1.9 billion. In a bourse filing, Sembcorp said the agreement supplements its existing natural gas supply from piped and liquefied sources, and will allow the company to maintain its position as Singapore’s leading natural gas importer. The company, meanwhile, said the signing of the sales agreement is in its ordinary course of business, and is not expected to place any material impact on its earnings per share and net tangible assets per share for the financial year ending Dec 31, 2023. Sembcorp shares closed up 3.1 per cent at S$5.35 on Monday, before the announcement.

Lendlease Global Commercial Reit (LReit) has taken over a 10 per cent share of Parkway Parade Partnership (PPP) for S$90.5 million. The amount was based on a S$1.38 billion agreed market value of the 291 strata lots PPP owns in Parkway Parade, an integrated office and retail development in Marine Parade. PPP holds an indirect 100 per cent interest in the 291 strata lots, which represent 77.09 per cent of the lots’ total share value. LReit’s manager said the acquisition benefits unit holders because it grants LReit flexibility to raise its stake in the properties over time through pre-emptive rights, and leads to distribution per unit (DPU) accretion on a pro forma basis.

Centurion Corporation, which owns, develops and manages purpose-built worker and student accommodation, has applied to voluntarily withdraw its shares listing on the Hong Kong stock exchange (HKEX) “for reasons of cost and utility”. In a bourse filing on Monday (Jun 5), the company, which is listed on the Singapore Exchange’s mainboard, said the volume of trading since its 2017 share offer on the HKEX has been “very limited”. The company also has not had the appropriate opportunity to take advantage of HKEX platform for secondary equity fund-raising activities in Hong Kong and would rather enable the company to effect cost savings.

Goldheart, the jewellery chain under Catalist-listed Aspial Lifestyle, on Monday (Jun 5) announced a data breach affecting close to 42,000 of its e-commerce customers. While financial data such as credit card information or passwords have not been accessed or retrieved by hackers, leaked information include customers’ names, addresses, emails, birth dates and phone numbers. The company has also moved to notify all affected customers of the incident, on top of notifying the Personal Data Protection Commissioner and reporting the incident to the police. Shares of Aspial Lifestyle closed 0.7 per cent or S$0.001 lower at S$0.141 on Monday, before the announcement.


Apple is expected to unveil a mixed-reality headset at its annual software developer conference on Monday (Jun 5), its first big move into a new product category since the introduction of the Apple Watch nine years ago. The launch will see Apple test a market crowded with devices that have yet to gain traction with consumers and put it in direct competition with Facebook-owner Meta Platforms.

US automaker Tesla delivered 77,695 China-made electric vehicles (EVs) in May, data from the China Passenger Car Association (CPCA) showed on Monday (Jun 5). That represented a 2.4 per cent jump from April when Tesla sold 75,842 locally made Models 3 and Y in the world’s largest auto market. On a yearly basis, sales rose 142 per cent in May from 32,165 vehicles in the same month of 2022 when Shanghai, where its factory is located, was still subject to Covid-19 containment measures, disrupting production. Chinese rival BYD, with its Dynasty and Ocean series of EVs and petrol-electric hybrid vehicles, logged sales of 239,092 vehicle in May, up 14 per cent from a year earlier, CPCA data showed.

The US dollar edged up against major currencies on Monday (Jun 5), as markets priced in around a 30 per cent chance of the US Federal Reserve (Fed) raising benchmark rates this month after robust jobs data on Friday. The US dollar index – which tracks the greenback against six peers – came off the boil last week, after some Fed officials had voiced a preference for a pause in rate hikes and after a breakthrough in US debt ceiling talks calmed market jitters. Markets are now putting the probability of a 25 basis point hike at the meeting on Jun 13-14 at 29.1 per cent.

General Motors (GM) said on Monday (Jun 5) it plans to invest more than US$1 billion to re-tool two manufacturing sites in Flint, Michigan to prepare for a new generation of its internal combustion engine heavy-duty (HD) trucks. GM has outlined this year a total of US$1.7 billion in investments in Flint facilities to support the next generation of its heavy duty pickups. GM said it will spend US$579 million at its Flint Engine Operations to produce a sixth generation of its small block V-8 combustion engine. Another US$103.5 million will be spent upgrading a separate Flint facility that supports truck production. Last year, GM sold nearly 288,000 trucks with HD pickup sales, which rose 38 per cent from a year earlier.

Source: SGX Masnet, Bloomberg, Channel NewsAsia, Reuters, CNBC, WSJ, The Business Times, PSR


PSR Stocks Coverage



For more information, please visit:


Upcoming Webinars

Guest Presentation by Power Integrations [NEW]

Date: 14 June 2023

Time: 8.30pm – 9.30pm

Register: https://bit.ly/3IoPTkt

Guest Presentation by United Hampshire US REIT [NEW]

Date: 28 June 2023

Time: 7pm – 8pm

Register: https://bit.ly/3pIRkUl

POEMS Podcast:

Research Videos

Weekly Market Outlook: Salesforce, Sasseur REIT, SATS, Valuetronics, SG Weekly & More…
Date: 5 June 2023
Click here for more on Market Outlook.
Sign up for our webinars here, and be among the first to receive economy and market updates.


Phillip Research in 3 minutes: #29 Keppel Corporation; Initiation
Click here for more on Phillip in 3 mins.

Follow our Socials

Facebook Social Icon Instagram Icon Twitter Social Icon Youtube Social Icon Linkedin Social Icon TikTok Social Icon Spotify Social Icon

Join our Singapore Equity Research Community on POEMS Mobile 3 App for the latest research reports, market updates, insights and more

Click to join!


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 揳s 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


This material is provided by Phillip Capital Management (S) Ltd (“PCM”) for general information only and does not constitute a recommendation, an offer to sell, or a solicitation of any offer to invest in any of the exchange-traded fund (“ETF”) or the unit trust (“Products”) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. You should read the Prospectus and the accompanying Product Highlights Sheet (“PHS”) for key features, key risks and other important information of the Products and obtain advice from a financial adviser (“FA“) pursuant to a separate engagement before making a commitment to invest in the Products. In the event that you choose not to obtain advice from a FA, you should assess whether the Products are suitable for you before proceeding to invest. A copy of the Prospectus and PHS are available from PCM, any of its Participating Dealers (“PDs“) for the ETF, or any of its authorised distributors for the unit trust managed by PCM.  

An ETF is not like a typical unit trust as the units of the ETF (the “Units“) are to be listed and traded like any share on the Singapore Exchange Securities Trading Limited (“SGX-ST”). Listing on the SGX-ST does not guarantee a liquid market for the Units which may be traded at prices above or below its NAV or may be suspended or delisted. Investors may buy or sell the Units on SGX-ST when it is listed. Investors cannot create or redeem Units directly with PCM and have no rights to request PCM to redeem or purchase their Units. Creation and redemption of Units are through PDs if investors are clients of the PDs, who have no obligation to agree to create or redeem Units on behalf of any investor and may impose terms and conditions in connection with such creation or redemption orders. Please refer to the Prospectus of the ETF for more details.  

Investments are subject to investment risks including the possible loss of the principal amount invested. The purchase of a unit in a fund is not the same as placing your money on deposit with a bank or deposit-taking company. There is no guarantee as to the amount of capital invested or return received. The value of the units and the income accruing to the units may fall or rise. Past performance is not necessarily indicative of the future or likely performance of the Products. There can be no assurance that investment objectives will be achieved.  

Where applicable, fund(s) may invest in financial derivatives and/or participate in securities lending and repurchase transactions for the purpose of hedging and/or efficient portfolio management, subject to the relevant regulatory requirements. PCM reserves the discretion to determine if currency exposure should be hedged actively, passively or not at all, in the best interest of the Products.  

The regular dividend distributions, out of either income and/or capital, are not guaranteed and subject to PCM’s discretion. Past payout yields and payments do not represent future payout yields and payments. Such dividend distributions will reduce the available capital for reinvestment and may result in an immediate decrease in the net asset value (“NAV”) of the Products. Please refer to <www.phillipfunds.com> for more information in relation to the dividend distributions.  

The information provided herein may be obtained or compiled from public and/or third party sources that PCM has no reason to believe are unreliable. Any opinion or view herein is an expression of belief of the individual author or the indicated source (as applicable) only. PCM makes no representation or warranty that such information is accurate, complete, verified or should be relied upon as such. The information does not constitute, and should not be used as a substitute for tax, legal or investment advice.  

The information herein are not for any person in any jurisdiction or country where such distribution or availability for use would contravene any applicable law or regulation or would subject PCM to any registration or licensing requirement in such jurisdiction or country. The Products is not offered to U.S. Persons. PhillipCapital Group of Companies, including PCM, their affiliates and/or their officers, directors and/or employees may own or have positions in the Products. Any member of the PhillipCapital Group of Companies may have acted upon or used the information, analyses and opinions herein before they have been published. 

This advertisement has not been reviewed by the Monetary Authority of Singapore.  


Phillip Capital Management (S) Ltd (Co. Reg. No. 199905233W)  
250 North Bridge Road #06-00, Raffles City Tower ,Singapore 179101 
Tel: (65) 6230 8133 Fax: (65) 65383066 www.phillipfunds.com