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Author: traderhub8   |   Latest post: Fri, 30 Oct 2020, 8:18 AM


Phillip Capital Morning Note - 19 Sept 2019

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Mapletree Industrial Trust (MIT) has raised S$400 million through an oversubscribed private placement of 176.6 million new units at an issue price of S$2.265 per unit, the top end of the issue price range of S$2.211 to S$2.265. The issue price represents about a 1.5 per cent discount to the adjusted volume weighted average price (adjusted VWAP) of S$2.2985 per unit, and a 2.7 per cent discount to the VWAP of S$2.3278 for all trades done on Monday up to the time the placement agreement was signed on Tuesday.

Two units of water treatment firm SIIC Environment have inked agreements for concession rights regarding water tariff hikes in China, the Mainboard-listed company announced in a Wednesday bourse filing. SIIC Environment (Dalian) Co, an indirect subsidiary of SIIC, signed a supplementary agreement on concession rights for its Dalian Wan Wastewater Treatment Plant project in Dalian City in Liaoning province. The plant has a total design capacity of 40,000 tonnes/day.

Catalist-Listed corporate accretion services provider Accrelist is looking to buy The Wellness Clinic at Wheelock Place for an indicative consideration of S$17 million. The company said on Tuesday night that it had entered into a non-binding term sheet with Verita Healthcare Group for the proposed acquisition of the entire stake in the medical aesthetics clinic.

Libra Group has received four letters of demand from creditors collectively seeking about S$9.3 million in repayments, as well as its mortgaged property at Sungei Kadut, the company revealed in a bourse filing on Wednesday. Just a day earlier, the Catalist-listed firm and its wholly-owned unit Cyber Builders applied to the High Court for six months of protection from creditors.

Oxley Karya Indo Batam (OKIB), a joint-venture vehicle linked to Rich Capital, has received a notice of default from the main contractor of the Oxley Convention Centre development project in Batam, Indonesia. The contractor, Rich-Link Konstruksi (RLK), is alleging that OKIB breached contract terms by not making payments for the project amid certified progress payments of IDR32.7 billion (S$3.2 million), Rich Capital said in a bourse filing on Wednesday. OKIB received RLK's notice on Sept 9.

Mainboard-listed Frasers Logistics and Industrial Trust (FLT) will be a constituent of the GPR 250 Index Series from Sept 23, the company announced in a bourse filing on Wednesday.

Despite a challenging year for global financial markets in 2018, Singapore’s assets under management (AUM) increased further by 5.4 per cent to S$3.44 trillion, according to an annual poll by the Monetary Authority of Singapore (MAS). This growth was mostly thanks to a 15 per cent surge in alternative assets to S$646 billion last year, which was supported by strong inflows and continued valuation gains across private market asset classes including private equity (PE) and venture capital (VC), the central bank said on Wednesday.

A US banking regulator on Tuesday proposed easing a rule requiring banks to set aside cash to safeguard derivatives trades between affiliates, marking one of the biggest wins for Wall Street lenders under the business-friendly Trump administration. The proposal, by the Federal Deposit Insurance Corporation, could potentially free US$40 billion across the nation's largest banks, according to a 2018 survey by the International Swaps and Derivatives Association (ISDA), the global trade group that has been lobbying for the rule change for years.

Oil prices retreated about 2 per cent on Wednesday, extending the previous day's declines after Saudi Arabia said it would quickly restore full production following last weekend's attacks on its facilities and as US crude stockpiles rose unexpectedly.

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

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Mapletree Ind Tr 3.04 -0.08 (2.56%) 10,537 
SIIC Environment 0.181 -0.007 (3.72%) 121 
Accrelist 0.003 0.00 (0.00%)
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