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Author: traderhub8   |   Latest post: Mon, 17 Jun 2019, 11:43 AM

 

Phillip Capital Morning Note

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U.S. Treasury Secretary Steven Mnuchin withdrew from an investment conference in Riyadh as the Trump administration tacked a bit on Saudi Arabia, under increasing pressure to hold its leaders accountable for the disappearance of journalist and critic Jamal Khashoggi.

A consortium comprising Salim Group and Medco Group has agreed to give Hyflux a S$400 million equity injection, in exchange for a 60 per cent stake in the Company once it has settled all its debts.

Real-estate services company OrangeTee, is not for sale, as the management responds to talk that a rival has bought it, even as the industry undergoes consolidation.

Global Invacom Group is contemplating "an acquisition which, if approved and completed, would constitute a reverse takeover".

Debao Property Development said it has been granted an extension of the deadline to hold its AGM for the 2017 financial year, by Nov 30.

IEV Holdings on Thursday issued a clarification and corrigendum regarding its proposed disposal of its entire 95 per cent stake in loss-making, indirectly-owned subsidiary PT IEV Gas.

Source: CNBC, Bloomberg, Reuters, Business Times, Phillip Securities Research

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