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Author: traderhub8   |   Latest post: Fri, 24 May 2019, 4:23 PM

 

Phillip Capital Morning Note - 18/4/2019

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North Korea said it had tested a new tactical weapon, in an unconfirmed move that comes as Washington and Pyongyang remain at an impasse following the failed Hanoi summit between Kim Jong Un and Donald Trump.

Chipmaker Intel conceded on Tuesday it would not release a 5G smartphone modem and was axing its plans to do so, just hours after rival Qualcomm made peace with Apple and set in motion a new era of co-operation between the companies.

Samsung’s $2,000 Galaxy Fold phone is breaking for some users after a day or two of use, CNBC reported. A review unit given to CNBC by Samsung is also completely unusable after just two days of use.

Nippon Paint has struck a deal to buy Australian paint and coatings maker DuluxGroup for A$3.8bn ($2.7bn) as the Japanese company seeks to reduce its reliance on the volatile Chinese market.

Indonesian President Joko Widodo is leading the race to be re-elected, with pollsters giving him an edge over rival Prabowo Subianto hours after voting closed on Wednesday.

ST Engineering has completed the Acquisition of MRA Systems, LLC, at a net consideration of about US$506m (approximately S$683m) in cash, subject to post-completion adjustments for debt-like items and working capital.

The Public Utilities Board (PUB) has issued a notice to debt-ridden Hyflux to take over its biggest asset, the Tuaspring desalination plant, and terminate the parties' water purchase agreement.

Keppel Offshore & Marine's (Keppel O&M) subsidiary, Keppel Shipyard, has received final approval to begin full conversion works for the Gimi Floating Liquefaction Vessel (FLNG) project, worth some US$947 million.

The Singapore Exchange’s regulation unit (SGX RegCo) has instructed Ayondo to justify and put on hold its plan to dispose its 99.91 per cent-owned UK subsidiary Ayondo Markets Limited (AML), pending clarity over the group’s financial situation as well as AML’s compliance with a UK authority.

Keppel Reit's first quarter distribution per unit (DPU) fell 2.1 per cent to 1.39 Singapore cents from 1.42 cents in the corresponding quarter a year ago.

Out of some S$8.2 million that Cache Logistics Trust received in an earlier dispute resolution, about S$7.4 million qualifies for tax transparency with the rest being subject to tax.

Ascendas India Trust has increased the limit of its multicurrency debt programme by S$1 billion, raising the likelihood that the India-focused IT business park real estate investment trust will be looking to borrow more funds.

YuuZoo Networks Group Corp has announced the cessation of Mohandas, its former chief executive officer (CEO) who goes by one name only, as a non-executive director.

Blumont Group has appointed Lee Tak Meng as its new chief executive officer (CEO) with effect from Apr 17, it announced on Wednesday night.

Developer SingHaiyi Group and its joint-venture (JV) partners - Suntec Reit and Haiyi Holdings - on Wednesday announced that UBS Singapore has signed on to take up all the office space at the redeveloped Park Mall building.

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

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