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Author: traderhub8   |   Latest post: Tue, 19 Nov 2019, 5:03 PM

 

Phillip Capital Morning Note - 23 Oct 2019

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Oil prices rose on Tuesday after China signaled progress in trade talks with the United States and Opec and its allies mulled deeper production cuts, but gains were capped by forecasts of a buildup in US crude stockpiles.

KrisEnergy on Tuesday said it has decided not to pay out the redemption amounts under its notes, as the debt-laden group needs to conserve cash while it works on a restructuring proposal.

Falcon Energy on Tuesday said the High Court has extended its debt moratorium by about one more month to Nov 30 from Oct 26 previously.

Olam International will buy Californian almond processor and ingredient manufacturer Hughson Nut Inc (HNI) and its associated real estate assets from APB Partners for a total US$54 million.

More US states join anti-trust probe of Facebook. The New York-led probe now includes 45 states along with the capital District of Columbia and the US territory Guam, according to New York attorney general Letitia James.

Maple Tree Logistics Trust is proposing a private placement to raise around S$250 million to partially fund its acquisitions, the trust's manager said on Tuesday. It plans to list between 154.6 million and 158.3 million new units, at an issue price ranging between S$1.579 and S$1.617 per new unit.

Malaysia, the world's second largest producer and exporter of palm oil, warned on Tuesday against new European Union (EU) rules that could hurt demand for a commodity used in foods from snacks to chocolate spread, threatening a US$60-billion industry.

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

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