Daily Morning Note – 7 March 2018
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BREAKING NEWS
Gary Cohn has resigned as White House chief economic advisor. Cohn’s planned departure comes on the heels of a decision by President Donald Trump to impose stiff tariffs on steel and aluminum imports. The former Goldman Sachs president had strongly opposed tariffs. In a prepared statement, Cohn said, “It has been an honor to serve my country and enact pro-growth economic policies to benefit the American people, inparticular the passage of historic tax reform.” I am grateful to the President for giving me this opportunity and wish him and the Administration great success in the future,” Cohn said.
Courts Asia Limited wishes to announce it has commenced a consent solicitation exercise in relation to S$75mn 5.75% notes due in 2019.
Vard Holdings Limited, one of the major global designers and shipbuilders of specialized vessels, is pleased to announce that it has secured contracts for the design and construction of two luxury expedition cruise vessels for French cruise company PONANT. The first vessel in the series of six will be delivered in 2Q 2018, followed by the delivery of the next three vessels in the period from autumn 2018 to summer 2019, and the delivery of the newly contracted vessels in 2020. In addition, VARD will deliver the PONANT expedition cruise icebreaker in 2021, the very first electric hybrid cruise icebreaker powered by LNG and dual fuel propulsion.
Koh Brothers Eco Engineering Limited wishes to announce that Koh Brothers Building & Civil Engineering Contractor (Pte.) Ltd. (“KBCE”), a wholly owned subsidiary of the Company, has secured a contract from a client through a joint venture of which KBCE has a 20% stake therein. Including this contract win, the Group’s order book which stood at S$762.7 million as at 31 December 2017 will be lifted to S$954.7 million.
Datapulse Technology Limited wishes to announce that the Company, and the Board, had on 1 March 2018 filed a Writ of Summons and Statement of Claim against Ascapia Capital Pte Ltd in respect of a claim for defamation The Claim relates to Ascapia’s publication of an open letter entitled “Minority shareholders demand answers” dated 25 January 2018 (the “Letter”) to the Company’s shareholders and the Singapore Exchange Securities Trading Limited as well as on a website accessible by the public
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
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