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Author: traderhub8   |   Latest post: Fri, 22 Feb 2019, 02:56 PM

 

Phillip Capital Morning Note

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Singapore’s exports ended 2018 on a weak note with non-oil domestic exports (NODX) falling for the second straight month in December, according to Enterprise Singapore figures on Thursday. NODX was down 8.5 per cent year on year in December from a high base a year ago, after a 2.8 per cent decline in November. The contraction came on the back of declines in both electronics and non-electronics exports.

Goldman Sachs reported better-than-expected profits on Wednesday despite higher legal costs as it works through the 1MDB scandal, while Bank of America's earnings were lifted by higher interest rates. Goldman reported mixed operational performance across its trading, investing and lending businesses, while Bank of America saw its profits triple compared to a year earlier. Shares of both banks surged after the results, which were stronger than earnings of some rival banks earlier posted earlier this wee

First Reit fourth-quarter distribution per unit stayed flat at 2.15 Singapore cents for the three months ended Dec 31, 2018, unchanged from a year ago. This is payable on Feb 28, 2019.

Keppel-KBS US Reit's manager has announced that it has completed the acquistion of Maitland Promenade I, an office property located in the Maitland submarket of Orlando, Florida, for US$48.5 million from The Realty Associates Fund X. Maitland Promenade I has a net lettable area of 230,371 square feet, with a committed occupancy rate of 98.1 per cent as at Oct 25, 2018.

Source: SGXnet, The Business Times

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