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Phillip Capital Morning Note - 27 Sept 2019

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Publish date: Fri, 27 Sep 2019, 11:55 AM
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Trade talks between the U.S. and China are set to resume Oct. 10-11 in Washington, D.C., three people close to the talks told CNBC on Thursday. Chinese Vice Premier Liu He will be representing the delegation from Beijing, one of the people told CNBC.

The IPO market took another hit Thursday as Endeavor Group Holdings Inc. yanked its planned offering, and Peloton Interactive Inc. ’s shares skidded on their first day of trading. Endeavor became the second big casualty of the IPO market’s recent chill after WeWork’s parent company pulled its offering earlier this month. It is the second time Endeavor has hit the brakes on its IPO this year.

Singapore factory output plunged by 8 per cent year on year in August, extending the Republic’s manufacturing decline into its fourth month and proving July’s reprieve short-lived.

Following a public consultation, the Singapore Exchange (SGX) plans to introduce price collars during the securities market opening, midday and closing auction routines so as to guard against the risk of severe price dislocations during auctions, it said on Thursday.

The Ascott Limited (Ascott) on Thursday said it has acquired a freehold serviced residence in the central business district of North Sydney for a sum of S$192 million through the Ascott Serviced Residence Global Fund, its global fund with Qatar Investment Authority (QIA).

The Singapore Exchange Regulation (SGX RegCo) on Thursday asked DLF Holdings to disclose its responses to the exchange's queries, among other things, on the rationale and intent of QRC Pte Ltd's offer and the relationships between the offeror, the group and its directors, key management and associates, if there are any.

Catalist-listed interior designer Serrano has identified an accounting firm to perform an independent review after it was made aware of allegations of improprieties and concerns relating to transactions, businesses as well as possibly conduct of management.

Embattled honestbee incurred an unaudited net loss of US$38.1 million in the first half of 2019 while burning through US$6.3 million per month on average,

Source: The Business Times, CNBC, The Wall Street Journal

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