- Investors remain on edge as US President Trump is expected to announce a raft of tariffs on Chinese imports on Thu, which could pose a key risk for Asia, even as the White House ponders on exemptions for some countries.
- Technically, immediate for the STI is at 3,420 with upside resistance at 3,575.
- The collective sale fever shows no signs of abating with another four residential properties put up for sale.
- Asia Gardens ($1,675 psf ppr), Park View Mansions ($1,183), 27 Moulmein Rise ($1,525) and Katong Omega Apartments ($1,062) join 12 others on the growing list that is up for tender, worth a total of $5.04b.
- Tenders will close on 16 Apr, 20 Apr, 18 Apr and 5 Apr for the respective sites.
- Ytd, there has been nine en-bloc sales transacted totalling $3.3b vs 27 deals valued at $8.2b for the whole of 2017.
- 2QFY18 net profit grew 19% to $3.7m bringing 1HFY18 earnings to $4.4m (-38%).
- Revenue for the quarter jumped 32% to $26.4m on higher contribution from its structural steel business.
- However, gross margin narrowed 6.3ppt to 19.9% due to lower margin projects and reduced contribution from its dormitory business.
- Bottom line was lifted by FX gain of $0.6m (2QFY18: $8,000) as well as lower effective tax of 14.8% (2QFY17: 21.8%).
- Trades at 13.8x trailing P/E.
- Acquiring a 70% stake in a 50:50 JVCo between SATS and DFASS for an undisclosed amount.
- It intends to engage in a travel retail business in Singapore, offering inflight and ground-based duty-free and duty-paid goods as well as mail order and pre-order services.
- Post acquisition, SATS and DFASS will each hold a 15% stake in the JVCo.
- MKE last had a Hold on SIA with TP of $10.95 and Buy on SATS with TP of $6.10.
- Provided a DPS guidance of $0.0275 for 2018, which gives a dividend yield of 7.4%, during discussions with shareholder Quarz Capital Management.
- Quarz remains supportive of management's commitment to turn around its existing US business and achieve a long-term target ROE of over 10%.
- Co-founder and ex-CTO, Ng Kai Wa sold a total 200,000 shares in two transactions at $9.04 apiece, cashing in a total of $1.8m.
- Shares in the tech firm ran up to levels not seen since 2007 after it unveiled its Super X-FI headphone technology.
- Trades at 46.2x trailing P/E.
- Received a letter from Ascapia informing that it will announce whether or not it would make a partial offer for the company by 9 Mar.
- Media reports had revealed that Ascapia was looking to purchase a 27% stake in the company.
- Entered into an MOU partnership with IDX-listed PT Waskita Karya (Persero) in Jakarta, Indonesia with the aim to identify opportunities for joint efforts for environmental projects in Indonesia.
- Waskita is a construction company specialising in commercial and residential building contracts.
- Entered into a US$500m contact with PT Bukit Makmur Mandiri Utama (BUMA) to provide land clearing and overburden removal for its mining area over the entire life of mine.
- The mining area is located at Angsana and Sungai Loban sub-district, Tanah Bumbu Regency, South Kalimantan, Indonesia.
- BUMA is one of the largest mining services in Indonesia and has been providing service to the group's s SDJ mine since Jun '15.
- Acquiring Stuart Service Yard in Florida for US$3.2m ($4.2m) in cash to serve as its official US headquarters and consolidate its presence in boat market.
- The property includes seven berths and 12,000 sf of waterfront offices, shops and maintenance facilities.
- It also houses commissioning and repair equipment such as a 50-ton travel lift, an enclosed floating workshop, deep water docks and concrete haul-out area.
- The Stuart Service Yard is strategically located in a hurricane-safe zone in Martin County, Florida, which offers attractive property and labour tax rates.