- Market sentiment is expected to remain subdued as traders awaiting key data from US (inflation), China (trade)and Singapore (3Q GDP, MAS policy) this Fri.
- But support could come from the latest IMF update, which bumped up its global growth forecasts as an upswing in the world economy is expected to gather pace into next year.
- Technically, the STI is approaching overbought territory with upside resistance pegged at 3,320 and underlying support at 3,275.
- According to news reports, CapitaLand is holding back sales of two residential projects (57% sold Marina Blue, 81% sold Sky Habitat).
- This comes as other developers, Landlease, Qingjian Realty and GuocoLand have also postponed the next phase of their sale launches for projects launched earlier this year, possibly in the hope of raising prices next year.
- Top picks are UOL (TP: $9.43), GuocoLand (TP: $2.75) and City Dev (TP: $12.05).
- Clinched a Rmb94.8m contract to provide four cold hydrogenation fluidized bed reactors to Chinese conglomerate Inner Mongolia Tongwei.
- Delivery is slated by 1H18 and will be positive for the group's FY18 results.
- Last traded at 15.7x trailing P/E.
- Korean film, The Outlaws, distributed by 51%-owned subsididiary, has taken the top spot in the Korean box office for two consecutive days.
- Separately, the group raised its stake in 26.17% owned talent agency, Spackman Media Group, to 29.12% for US$2.7m. This will be funded via issue of by 28.5m new shares (6.1% of share capital) at $0.13 each.
- Proposed to acquire a development stage motion picture production firm, Take Pictures, for $3.9m, via cash ($0.6m) and 25.7m new shares (5.6% of share capital) at $0.13 each.
- Last traded at 8.6x forward P/E.
- Completed acquisition of Sengkang Pawnshop for $3.58m.
- The acquisition will provide an additional revenue stream and is in line with group's expansion plan.
- Last traded at 9.6x trailing P/E against 10.1x for peer Maxi-Cash'.
- Guided for a 3Q17 operating loss of several hundred thousand dollars.
- Forecast revenue for 3Q17 will just exceed US$11m (-33%).
- The lacklustre quarter was due to excess inventories of polished diamonds, which prompted manufacturers to slow down production and hold off capex, and imitation products that impaired the sales of its capital equipment.
- Last traded at 14.2x forward P/E.
- Proposed a slew of changes to encourage new remisiers to join the industry in bid to improve trading activity on the local bourse.
- These proposed changes include removing the minimum $30,000 security deposit in order to allow broking houses to set their own credit limit, and giving brokers more flexibility to operate off-premises and their own non-trading businesses.
- Last traded at 21.5x forward P/E.
- Acquiring two warehouse facilities in Moosthenning, Bavaria/Germany, for 42.4m ($67.8m).
- The properties with a combined gross lettable area of 72,558 sqm are leased on a long-term basis to a leading German car manufacturer for the warehousing of automotive spare parts.
- Secured its second management contract in China for an upcoming integrated marine located at Sanshan Island, Suzhou.
- The contract will be for a 10-year term, with no further financial details provided.
- Separately, the group inked an MOU with Hainan Cruise & Yacht Association to exchange ideas regarding the development and expansion of Hainan Island's leisure marina industry.
- Proposed placement of 100m new shares (19.7% existing share capital) at $0.1403 (10% discount to last close) to placement agent PrimePartners Corporate Finance.
- Net proceeds of $13.3m to be used for general working capital (30%) and investments into new, prospect or existing portfolio companies (70%).
- Proposed interested party transaction for a 51% acquisition of investment holding company, which owns Malaysian incorporated travel agency, YC Travel & Tours, for $15m.
- Funding will be via 117.2m new shares at $0.128 apiece to be issued to Executive Chairman and CEO, Chu Sau Ben, and will lift his stake from 50.002% to 74.752%.
*Samurai 2K Aerosol
- Signed an MOU with Genesis GD for the latter to be the sole and exclusive distributor of Samurai's line of products in Cambodia.
- Entered into a JV agreement with a privately-owned automobile parts importer in Myanmar.
- The JVCo will develop and establish a marketing business for automobile and industrial products in Myanmar.
- YHI has the option to increase its shareholding to a maximum of 51% from its current stake 19%.
- Last traded at 26.7x trailing P/E and 0.97x P/B.