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Author: traderhub8   |   Latest post: Fri, 14 Feb 2020, 9:53 AM


Phillip Capital Morning Note - 16 Jul 2019

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US-China trade officials to talk again 'this week': official. Top US and Chinese trade negotiators are due to speak by telephone in the coming days, but no face-to-face talks have been scheduled yet, US Treasury Secretary Steven Mnuchin said on Monday.That would be the second call in two weeks by senior officials from Washington and Beijing as the thaw in fraught trade negotiations continues.

China's economy sputters with 6.2% growth in Q2. The world's second-largest economy grew 6.2 per cent from April-June, its slowest growth rate on record and down from 6.4 per cent registered in the first three months of the year. "Uncertainty caused by the US-China trade war was an important factor and we think this will persist, despite the recent tariff truce," said Tom Rafferty, an economist for China at The Economist Intelligence Unit.

SGX considers volatility controls for pre-open and pre-close trading. The proposed controls could be introduced as early as next year, depending on the feedback received.

Hyflux 'progressing' towards Utico deal for S$400m lifeline. HYFLUX'S potential white knight Utico is looking to take an 88 per cent stake in the troubled water treatment firm through S$300 million in equity injection and S$100 million in shareholder's loan. Hyflux first mentioned Utico's potential investment of S$400 million on May 3 but both parties are still working towards a binding agreement.

Suntec Reit acquires Adelaide office building. SUNTEC Reit has expanded its presence in Australia after acquiring the entire stake in a freehold Grade A office building in Adelaide, South Australia for A$148.3 million (S$141.4 million). This is its first foray into Adelaide. ARA Trust Management (Suntec), manager of the real estate investment trust (Reit), said in a media statement issued on Monday that the 12-storey property has an approximate net lettable area of 282,000 square feet and had undergone several rounds of refurbishment.

Koh Brothers unit snags S$668.2m PUB job. A SUBSIDIARY of Catalist-listed Koh Brothers Eco Engineering has bagged a S$668.2 million contract from national water agency PUB, boosting its parent company's order book to over S$1 billion. The contract, awarded to Koh Brothers Building & Civil Engineering (KBCE) and its joint venture (JV) partner China Harbour (Singapore) Engineering, is for the construction of influent pumping stations at Tuas Water Reclamation Plant (TWRP) later this month.

Source: Phillip Capital Research - 16 Jul 2019

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