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Phillip Capital Morning Note - 11 Oct 2019

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Publish date: Fri, 11 Oct 2019, 09:02 AM
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The UK is proposing a "pared-down" free trade agreement to make a deal done by the end of October, Sky news reported on Thursday, citing sources. Prime Minister Boris Johnson pitched the offer, which focuses on a more limited free trade (FTA), to Irish Prime Minister Leo Varadkar during talks on Thursday, the report said.

HOME appliance giant Dyson has scrapped its entire automotive division, including its plan for an electric car plant in Singapore, the British firm announced on Thursday.

DENTAL Group Q&M has agreed to sell a 36 per cent stake in its associate Aidite (Qinhuangdao) Technology for net proceeds of S$49 million, the Catalist-listed company announced in a bourse filing on Thursday.

CRUSHED limestone producer GCCP Resources has entered a non-binding Memorandum of Understanding (MoU) to fully acquire an Indonesian palm oil producer for S$220.3 million, resulting in a reverse takeover (RTO) of the Catalist-listed firm.

THE Singapore Exchange (SGX) has queried Catalist-listed Capital World on the sustainability of entering a cycle of loans with increasing interest rates and high arranger fees.

RETAIL landlord SPH Reit on Thursday reported a 2.1 per cent rise in distribution per unit (DPU) to 1.46 Singapore cents for the fourth quarter ended Aug 31, up from 1.43 cents a year ago.

LAW Kung Ying, the chief executive of Mainboard-listed Cheung Woh Technologies, will retire from the top job on Feb 28, 2020 due to health reasons. He will be replaced by his brother Law Kung Ming

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

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