Daily Morning Note – 9 February 2018
WEEKLY MARKET OUTLOOK WEBINAR
Register HERE for MONDAY’s 11.15am webinar if you have not already done so.
In this week’s webinar, we update on our US Recession Tracker and Singapore
Strategy. We also discuss the results for Micro-Mechanics, CapitaLand Retail China
Trust and SIA Engineering Company.
Archived webinars available.
OCBC Ltd – Daily timeframe – Bullish
– The bullish rejection on 02/08/18 resulted in price forming an increasing
volume hammer, signalling some sign of strength.
– Expect the uptrend to resume next for price to retest the 12.85 resistance
area followed by 13.29.
For more information and additional disclosures, refer to the link here.
Dow Jones plunges 1,000 points as inflation fears spook investors.
The Trendlines Group Ltd. announced that its subsidiary, Trendlines Medical Singapore Pte. Ltd. will collaborate with Ozi Amanat’s Singapore-based venture capital firm K2 Global Pte Ltd and has been appointed as one of the partners under the Startup SG Equity scheme, administered by SPRING SEEDS Capital Pte. Ltd.. In July 2017, SSC announced a SGD100 million investment allocation to groom start-ups and issued a call to the appointed partners to coinvest in the health and biomedical sciences and other fields.
iX Biopharma Ltd announced that it has been granted a patent for its WaferiX drug delivery technology by the People’s Republic of China (Patent No. ZL 2013800602813). WaferiX is a fast-dissolving, proprietary wafer formulation that allows pharmacologically active compounds, such as ketamine and sildenafil, to be administered sublingually (i.e., placed under the tongue) and delivered safely, conveniently and rapidly into the blood stream.
Nera Telecommunications Ltd announced that it has clinched a total of S$3.2 million worth of new contracts for the Network Infrastructure business segments.
SIA Engineering Company Limited announced that it has signed a Joint Venture Agreement with Stratasys Ltd. to establish an additive manufacturing service centre to provide 3D printed parts for use in commercial aviation. This Singapore-based additive manufacturing joint venture will offer design, engineering, certification support and part production to customers worldwide including airlines, maintenance, repair and overhaul providers and original equipment manufacturers.
Midas Holdings Limited announced that the Company has uncovered several litigations, enforcement orders and court documents involving companies within the Group. There is an enforcement order filed against Jilin Midas Aluminium Industries Co., Ltd, a wholly-owned subsidiary of the Company incorporated in the People’s Republic of China, for previously undisclosed liability in the amount of RMB30 million. About RMB12 million out of unaudited ledger balances of RMB873 million as at 31 December 2017 for our PRC subsidiaries were frozen by court orders.
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
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