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Author: traderhub8   |   Latest post: Wed, 20 Nov 2019, 4:55 PM

 

Phillip Capital Morning Note - 16/4/2019

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Rio Tinto cut its 2019 guidance for shipments of iron ore to between 333 and 343mn tonnes on Tuesday as a result of cyclone damage at its port in Western Australia.

Streaming service Hulu has bought out AT&T’s stake in the company, for $1.43bn, as it seeks to cut its debt load.

Citigroup and Goldman Sachs both delivered better-than-expected earnings.

Former Volkswagen boss Martin Winterkorn has been charged with fraud and other criminal offences alongside four others, over their alleged role in the decade-long diesel emissions scandal.

Hyflux could be headed for a debt moratorium extension application as it has added well-known restructuring specialist nTan Corporate Advisory as adviser for its ongoing court-supervised reorganisation process.

Keppel Infrastructure led consortium has secured a $52.5m Jurong Island pipelines project.

Ezion Holdings said Yinson Holdings has not entered into the debt assignment agreements with its lenders by the April 14 deadline, meaning that Yinson has the right to terminate the conditional debt conversion agreement immediately.

Tee International on Monday said it plans to spin off its infrastructure arm and list it on the Singapore Exchange's Catalist board.

Tritech Group, through TGL Engineering Group, is selling Presscrete Engineering, an indirect subsidiary, to Lim Wen Heng Construction to meet its working capital requirements.

United Overseas Bank (UOB) and Singapore-headquartered e-commerce platform Qoo10 have struck a strategic regional alliance to drive e-commerce growth in South-east Asia.

Keppel DC Reit posted a distribution per unit (DPU) of 1.92 Singapore cents for the first quarter ended March 31, 2019, up 6.7 per cent from 1.8 cents a year ago.

Cromwell EReit Management, the manager of Cromwell European Real Estate Investment Trust (Cromwell E-Reit), has appointed industry veteran Shane Hagan as its chief financial officer (CFO) with effect from May 1, 2019.

The manager of Frasers Centrepoint Trust (FCT) has named Richard Ng as chief executive officer-designate who will take over from Dr. Chew Tuan Chiong.

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

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