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Author: traderhub8   |   Latest post: Wed, 18 Sep 2019, 9:14 AM

 

Phillip Capital Morning Note - 14 May 2019

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China says it will raise tariffs on $60 billion worth of U.S. goods from June 1, Bloomberg News reports. Some 2,493 goods will see levies raised to 25%, according to a statement on the Chinese government’s website. No date has been set for fresh talks. but it's likely Mr Trump would meet with Chinese President Xi Jinping during the G20 meeting in Osaka, Japan, in late June, Mr Kudlow said.

The Supreme Court has ruled against Apple in a long-standing case over price fixing in the App Store, in a decision that allows iPhone owners to proceed with a lawsuit against the company. The court heard arguments in the case in November, and the decision was expected sometime this spring.

Sasseur Reit on Monday posted a first-quarter distribution per unit (DPU) of 1.656 Singapore cents, 9.3 per cent higher than the projected DPU of 1.515 Singapore cents. For the three months ended March 31, distributable income was S$19.7 million, also 9.3 per cent above forecast.

Oxley on Monday posted a net profit of S$66.1 million in the third quarter, up 118 per cent from the same period a year earlier as fair-value gains offset a fall in revenue. The group expects to complete the sale of 30 Raffles Place (formerly known as Chevron House) for S$1.025 billion in the first quarter of 2020, and has recorded other gains of S$101.5 million in the third quarter, up from S$33.1 million in the third quarter last year, due mainly to the revaluation of investment properties in Dublin and Singapore.

NetLink NBN Trust has called for a distribution per unit (DPU) of 2.44 Singapore cents for the fourth quarter, the manager said, in results released on Monday. The latest payout takes DPU for the 12 months to 4.88 Singapore cents, compared with 3.24 Singapore cents for the previous full year. Net profit came in at S$20 million for the three months to March 31, up 30.9 per cent year-on-year, and 11.7 per cent higher than projected in the trust's listing prospectus.

Apac Realty's net profit for the first quarter ended March 31 sank 70 per cent year-on-year to S$1.78 million on the back of lower transaction volume following the cooling measures in July last year. Revenue fell 26.4 per cent to S$77.41 million owing to lower brokerage income from resale and rental of properties and a decrease in brokerage income from new home sales. Earnings per share was 0.49 Singapore cent, down from 1.67 cents a year ago.

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR

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Sasseur Reit 0.80 0.00 (0.00%) 1,036 
Oxley 0.31 +0.005 (1.64%) 1,419 
NetLink NBN Tr 0.89 +0.005 (0.56%) 2,502 
APAC Realty 0.505 -0.01 (1.94%) 334 

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