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Author: traderhub8   |   Latest post: Wed, 19 Jun 2019, 9:05 AM

 

Phillip Capital Morning Note - 21/3/2019

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BEARINGS and seals supplier Raffles United Holdings has received in-principle approval from the Singapore bourse for the listing of up to 234 million new shares under a one-for-one rights issue, and obtained an undertaking from its major shareholder to fully subscribe for her entitlement.

The world's biggest planemaker Boeing faced growing obstacles on Wednesday to returning its grounded 737 Max fleet to the skies, while details emerged of an Indonesian crash with potential similarities to the Ethiopian disaster.

German high-end carmaker BMW warned Wednesday it expects pre-tax profits "well below" 2018 levels this year as it announced a massive cost-cutting scheme aimed at saving 12 billion euros (S$18.41 billion) in total by 2022.

ST ENGINEERING and China electric-vehicle maker BYD have signed a Memorandum of Understanding (MOU) to develop autonomous bus platforms, as part of the former's plans to form a consortium in response to the Call for Collaboration (CFC) by the Land Transport Authority and the Singapore Economic Development Board.

CHALLENGER Technologies announced Wednesday that it intends to delist, with Digileap Capital making a cash exit offer for all of the electronic retailer's shares at an exit offer price of S$0.56 per share. The offeror is a partnership between the Loo family and Dymon Asia Private Equity, via Dymon Asia Private Equity (S.E. Asia) Fund II.

Source: Phillip Capital Research - 21 Mar 2019

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