Daily Morning Note – 8 March 2018
WEEKLY MARKET OUTLOOK WEBINAR
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TECHNICAL PULSE
Genting Sing Ltd – Daily timeframe – Bullish
There was hammer rejection with increasing volume on 07/03/18 suggests a
near-term bottom might be in.
Once the bullish follow-through occurs, expect price to rebound higher to
retest the 1.19 resistance area followed by 1.26.
For more information and additional disclosures, refer to the link here.
BREAKING NEWS
Creative Technology Director Ng Kai Wa sold shares in the company on 5 Mar2018 and 6 Mar2018. The total amount sold was 200,000 shares at around S$9.039 per share.
Tritech Group Limited wishes to announce that its wholly-owned subsidiary, Tritech Water Technologies Pte. Ltd. Has on 7 March 2018 entered into a non-binding strategic partnership memorandum of understanding with PT Waskita Karya (Persero) Tbk (“Waskita”), an independent third party, incorporated in Jakarta, Indonesia, wherein the parties agreed, inter alia, to Identify synergies between Waskita and Tritech Water such as to create opportunities for joint or allied efforts for future environmental projects in Indonesia; Create opportunities for future joint or allied efforts for environmental projects in Indonesia such as to develop the businesses of Waskita and Tritech Water; Identify other suitable partners for collaboration on environmental projects in Indonesia; and provide support to each respective party in connection with finding solutions for the tender of environmental related projects or activities where appropriate.
Grand Banks Yachts Limited announced today it intends to acquire the Stuart Service Yard in Florida to serve as its official U.S. headquarters, consolidating its presence in the world’s biggest boat market. The Singapore Exchange-listed luxury boat builder has entered into a stock purchase agreement to acquire the entire stake of Stuart Yard Corporation, which owns the property, for US$3.2 million (approximately S$4.2 million). Of this, approximately US$1.0 million will be paid up front in cash and the remainder of approximately US$2.2 million over six years
Geo Energy Resources Limited, an integrated Indonesian coal mining group, is pleased to announce that the Group has entered into an agreement with BUMA for the provision of overburden at the Group’s wholly owned coal mine, TBR. The Agreement will be for the entire Life of the Mine or until all the coal reserves have been fully extracted from TBR mining area and has an estimated contract value of over US$500 million.
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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