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Phillip Capital Morning Note - 7 Nov 2019

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Publish date: Thu, 07 Nov 2019, 09:04 AM
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Wall Street stocks were under pressure on Wednesday as investors awaited concrete progress on US-China trade talks while petroleum-linked shares fell with oil prices.

CATALIST-LISTED oil and gas solutions provider SBI Offshore has lost its bid for more time to get shareholders' approval over a planned reverse takeover, it disclosed on Wednesday.

CATALIST-LISTED metal dealer Metech International, which is making a shift into supply chain management, returned to the black in the first quarter, according to results released on Wednesday.

CATALIST-LISTED building solutions provider Libra Group, which suspended trading in August when it could no longer continue as a going concern, disclosed on Wednesday that United Overseas Bank (UOB) has appointed receivers for the company's mortgaged property in Loyang Drive.

HEALTHCARE real estate investment trust First Reit will pay out a distribution per unit (DPU) of 2.15 Singapore cents for the third quarter, unchanged from the same period the year before, manager Bowsprit Capital Corp said in results released on Wednesday.

MAINBOARD-LISTED precision manufacturer Sunningdale Tech's earnings slid in the third quarter, as a fall in revenue was exacerbated by retrenchment costs, rents and other expenses, according to results released on Wednesday.

MAINBOARD-LISTED vessel chartering company CH Offshore fell further into the red in the third quarter, on the back of a provision for brokers' commission that drove up administrative expenses, according to results released on Wednesday.

MAINBOARD-LISTED equipment service provider Frencken Group saw net profit surge in the third quarter on the absence of the previous year's one-off costs, as per results out on Wednesday.

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

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