• 新加坡银行快讯 – Hin Leong交易违约的影响

    23rd April, 2020

    摘要: 摘要 Hin Leong Trading (Pte.) Ltd. (简称HLT) 在被揭露未能报告由于衍生品交易造成价值8亿美元的损失后,于4月17日申请破产。 HLT 共计超过36亿美元的担保债务,欠23家不同的贷款机构,而资产仅有7亿美元。 本地银行的DBS,OCBC 和UOB 对HLT的风险敞口分别为2.9亿美元,2.4亿美元和1.4亿美元。 由于额外准备金,本地...

    更多
  • 新加坡银行每月快讯 – 如释重负,度过困难时刻

    20th April, 2020

    摘要: 摘要 尽管美联储在3月总共降息150个基点,但本地利率正出现短期反弹。NIMs(净息差)全年可能会压缩到中期水平,低于先前的预期。 2月贷款同比增长稳定在0.5%。随着COVID-19疫情接踵而至,在企业面临流动性紧缩的态势下,政府采取各种措施鼓励放贷,贷款将可能会维持在当前的增长水平。 由于市场波动性处于2008年全球金融危机以来的最高月度水平,3月份的衍生品交易量同比...

    更多
  • 新加坡房地产投资信托部门 – 给REITs一些喘息的空间 (+ 信贷评论)

    20th April, 2020

    摘要: 摘要 REITS分配至少90%的收益期限从3个月延长至12个月。 杠杆上限从45% 提高到50%;2.5倍 ICR 的先决条件,将杠杆率提高50%延迟至2022年1月1日。 股票和可转换证券的发行限额增至股本的100% (先前是50%) 在这种低利率的环境下,杠杆限制和提高股票发行上限,为REITs进行收购提供了诱人的条件。如果REITs选择利用杠杆净空,可能会被重...

    更多
  • 新加坡策略 | 额外480亿新元用于抗击病毒

    27th March, 2020

    摘要: 摘要 480亿新元的助力 (补充) 预算加上64亿新元的2020统一预算(于2020年2月18日公布),总计550亿新元或占GDP的11%。2009年,当时的助力一揽子计划为205亿新元,而对企业和家庭的直接支出较少。 额外151亿新元用于加强就业支援计划。资金激增四倍,用于所有当地雇员的月薪支持。 额外30亿新元,用于加强关怀和支持一揽子计划,直接支付给新加坡人。&nb...

    更多
  • 研报 | 新加坡银行策略:股价比全球金融危机期间

    25th March, 2020

    摘要: 2020年3月19日星展集团控股:增持 (维持) 彭博代码:DBS SP | 收盘价:SGD 17.90 预测DIV:SGD 1.32 | 目标价:SGD 27.30 历史收益率:6.87% | 总回报:59.89%华侨银行集团:增持 (维持) 彭博代码:OCBC SP | 收盘价:SGD 8.49 预测DIV:SGD 0.56 | 目标价 :SGD 12.10 历史收益率:6.24%...

    更多
  • 研报 | 新加坡银行业每月快讯:在双重威胁中,坚定不移

    17th March, 2020

    摘要: 2020年3月9日 | 增持 (维持)星展集团控股 | 增持 (维持)彭博代码: DBS SP EQU | 收盘价: SGD 21.43 预测DIV: SGD 1.32 | 目标价: SGD 27.30 总回报: 33.55%     华侨银行集团 |&n...

    更多
  • 研报 | Penguin International Ltd:又一个净现金创纪录的丰收季

    12th November, 2019

    摘要: 推介日期 2019年11月8日 买入 (维持) 收盘价:SGD 0.660 | 预测DIV:SGD 0.0125 目标价:SGD 0.930 | 总回报:42.8%   摘要 盈利和营收双丰收。我们将2019/2020财年末的收益提高约10%。 由于去年经历季节性疲软的季度,与去年同期相比,业绩显得有些言过其实。连续四个季...

    更多
  • 研报 | 星和电信有限公司 (StarHub):正在复苏

    8th November, 2019

    摘要: 2019年11月6日 增持 (维持) 收盘价:SGD 1.480 | 预测DIV:SGD 0.090 目标价:SGD 1.580 | 总回报:12.8%   摘要 收入和税后净利达到预期。不包括来自TPG的900万新元的一次性通道收入,税后净利将比我们的估值少3%。考虑到竞争因素和来自单个企业客户的大量流失,移动部门相对具有弹性。受网络安全...

    更多
  • 研报 | 新加坡银行业每月快讯:贷款增长乏力但稳定

    6th November, 2019

    摘要: 星展集团控股 | 彭博代码:DBS SP 增持 (维持) 收盘价:SGD 26.13 | 预测DIV:SGD 1.20 目标价:SGD 27.60 | 总回报:10.22% 华侨银行集团 | 彭博代码:OCBC SP 增持 (维持) 收盘价:SGD 11.08 | 预测DIV:SGD 0.48 目标价:SGD 12.32 | 总回报:15.52% 大华银行集团 | 彭博代码...

    更多
  • 大华银行有限公司(UOB): 费用增长将抵消2020年净息差的收缩

    5th November, 2019

    摘要: 2019年11月4日 增持 (维持) 收盘价: SGD 26.6 | 预测DIV: SGD 1.3 目标价: SGD 27.8 | 总回报: 9.6%   摘要 2019年三季度的营收和税后净利符合我们的预期。 由于利率下降和竞争激烈的定价环境,净息差同比下降4个基点,环比下降至1.77%。预计到2020财年,净息差将收缩5-10个基...

    更多

联系我们开设账户

需要帮助吗?请分享您的详细资料,我们会给您答复。

IMPORTANT INFORMATION

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