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Author: traderhub8   |   Latest post: Tue, 17 Sep 2019, 8:51 AM

 

Phillip Capital Morning Note

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Singapore’s business community has welcomed Friday's signing of the European Union Singapore Free Trade Agreement, with exporters of electronics, pharmaceuticals, chemicals and processed food products particularly well-placed to benefit.

AVIC International Maritime Holdings announced on Sunday evening that its controlling shareholder, Hong Kong-listed AVIC International Holdings, has informed AVIC that it is in preliminary discussions with potential investors for a possible disposal of its ship business.

Lion Asiapac cautioned on Saturday that it expects to report a loss for the first quarter ended Sept 30, due primarily to unrealised exchange loss arising from the depreciating Chinese yuan.

Viva Industrial Trust announced a clean-up distribution per stapled security of 1.692 Singapore cents, in line with the merger of ESR-Reit and VIT.

Sembcorp Marine and Teekay Offshore Partners have signed a US$166 million agreement for engineering, procurement and construction works related to the modification, repair and life extension of Teekay's Petrojarl Varg FPSO ship.

Source: CNBC, Bloomberg, Reuters, Business Times, Phillip Securities Research

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