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Phillip Capital Morning Note - 12 Jul 2019

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Publish date: Fri, 12 Jul 2019, 08:58 AM
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Based on advance estimates, the Singapore economy grew by 0.1% on a year-on-year basis in the second quarter of 2019, slower than the 1.1% growth in the previous quarter.

With immediate effect on Thursday (July 11), there will be two changes to the voluntary delisting rules to listed firms on the SGX. First, offers must be fair and reasonable to the IFA. Second, the offeror and concert parties will be barred from voting on the voluntary exit offer.

Ford Motor Co and Volkswagen AG said on Thursday they are expanding their global alliance announced in January with deals that are expected to involve collaboration on electric and autonomous vehicles.

CapitaLand's 99-year leasehold condo One Pearl Bank will be open for booking on July 20, with prices starting from S$970,000 for studio units.

SPH REIT reported a 1.5% increase in its 3Q19 DPU, on the back of contributions from its purchases in Singapore and Australia.

Hyflux’s potential white knight Utico is looking to take an 88 per cent stake in the troubled water treatment firm through S$300 million in equity injection and S$100 million in shareholder's loan.

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

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