- Market may see more profit-taking after Nov's strong rally, weighed by major US policy shift to recognise Jerusalem as Israel's capital, while investors await new details on the final tax bill from Congress.
- Following yesterday's 1.2% decline, underlying support for STI lies at 3,390 with overhead resistance remaining at 3,420.
- Achieved higher Nov securities turnover of $28.5b (+3% y/y, +19% m/m), with daily average of $1.3b (-3% y/y, +13% m/m).
- Total derivatives volume rose to 18m contracts (+9% y/y, +21% m/m), while commodities derivatives volume totalled 1.4m contracts (+42% y/y, +9% m/m).
- There were three new mainboard and two Catalist listings raising a total of $1.55b and 80 new bond listings raising $30b.
- Trading at 21.6x forward P/E and 3.7% dividend yield.
- Secured a US$490m EPC contract from Statoil Petroleum for a newbuild FPSO's hull and living quarters.
- The contract is scheduled for completion in 1Q20.
- Excluding the nine rigs sold to Borr Drilling for $1.77b, this brings its ytd order flow to $932m.
- Will mark its 11th Marvel Avengers S.T.A.T.I.O.N exhibition when its third travelling set embarks on a tour to Norrköping, Sweden from Jun till Aug '18 after its stop in Moscow, Russia.
- Currently trades at 15.2x forward P/E.
- Day-old chick (DOC) and broiler chicken prices saw a sequential m/m rebound although y/y prices are still mixed.
- Nov ASPs of broiler and DOC hit Rp17,295 (+10.6% y/y, +11.7% m/m) and Rp4,445 (-6.3% y/y, +9.8% m/m) respectively.
- Price action might be due to recent culling efforts by the government to bring down supply levels.
- Trading at 8.3x forward P/E.
*Samurai 2K Aerosol
- Awarded the sole and exclusive distributorship of its products to Genesis GD in Cambodia till Apr '19, subject to renewal on a yearly basis.
- The move follows success in Indonesia, Malaysia, Thailand, Vietnam and Philippines.
*First Sponsor/City Developments
- To partner Tai Tak to acquire the 300-room Le Meridien Frankfurt Hotel in Germany for 85.0 million (S$135.9 million).
- First Sponsor will hold a 50% stake while City Dev and Tai Tak will hold a 25%-stake each in the partnership.
- The hotel currently has a lease expiry date of 31 May 2050 with a renewal option of five years. The partners are hoping to leverage on an inflow of business travellers following Brexit.
- MKE last had a Buy and TP of $13.60 on CIT, which is currently trading at 15% discount to RNAV.
- To acquire a 60% stake in Xingtai Degui Nano Material Technology from Guo Zhimin for Rmb6m.
- The firm is involved in the trading of limestone and lime and performs R&D on nanocalcium carbonate. It is currently constructing two production plants in Xingtai, China, which would have a combined annual lime processing capacity of 0.4m tonnes.
- The acquisition will ensure stable supply of limestone or lime and reduce cost of raw materials for its steel production.
- Reached an out-of-court settlement with China Construction (CC) in relation to a $4.7m suit claiming wrongful cancellation of a piling subcontract.
- 60% owned Goldpetrol Joint Operating is acquiring 11 patents from Chengdu North Petroleum Exploration & Development Technology for US$5.8m.
- The patents will be used to acquire production capabilities in order to enhance oil production in the Chauk and Yenangyaung field in Myanmar.