Investors could take some gains off the table on a relatively quiet week for both the corporate and economic data fronts.Regional bourses opened mixed in Tokyo (+0.4%), Seoul (-0.4%) and Sydney (-0.4%).Technically, STI has broken above its 50MA and 200MA at 2,835 and 2,820, respectively, with next resistance at 2,855. Downside support seen at 2,800.
Stocks to watch:
*SGX: Partnered with a consortium of financial institutions including central bank MAS to form innovation group R3, to collaborate on a proof-of-concept project using blockchain infrastructure for interbank payments.
*ThaiBev: FY16 net profit rose 14.3% to to Bt18.92b, on revenue of Bt139.15b (+14.8%), boosted by stronger sales in all segments- spirits (+0.1%), beer (+62.3%), non-alcoholic beverages (+6.8%) and food (+1.4%). However, EBITDA margin narrowed to 19.2% (-0.8ppt) on increased staff costs in the spirits business. Final DPS reduced to Bt0.4, bringing FY16 DPS to Bt0.6 (FY15: Bt0.61).
*mm2 Asia: 51% owned UnUsUaL has secured pre-IPO investors SPH AsiaOne, Apex Capital and Maxi-Harvest, by way of subscription for a $1m convertible note with a two-year term each. The notes will be converted to shares in UnUsUaL upon its SGX listing at a 15% discount to the IPO price.
*EMAS Offshore: 49% owned associates SJR Marine, EMAS Victoria and Intan Offshore will have to observe an informal standstill with regards to proceedings against Perisai Petroleum Teknologi for the next 60 days, as Perisai prepares to submit a proposal for a debt restructuring scheme.
*Croesus Retail Trust: Purchased and cancelled $9.8m of the $100m 4.6% fixed rate notes due 2017. Post-purchase, there will be $90.3m in notes outstanding.
*China Minzhong: The $1.20/share buyout offer by Marvellous Glory has attained valid acceptances of 92.3%. Offer will close on 8 Dec.
*Equation Summit: Prominent investor Alan Wang Yu Huei of Asdew Acquisitions raised its stake to 7.87% from 0.75%, via a placement of 420m shares at 0.7¢ each.
*Fullerton Health: Called off IPO plans in light of market uncertainty, despite "significant interest" during its book-building process.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment