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Author: traderhub8   |   Latest post: Fri, 22 Nov 2019, 9:33 AM

 

Phillip Capital Morning Note - 31 Jul 2019

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Aspion's ex-directors countersue Top Glove over RM1.37b deal, breach of employment. Two individuals whom Malaysia's Top Glove Corp has accused of a conspiracy to defraud the firm over its RM1.37 billion (S$455 million) buyout of Aspion last year have filed counter suits in Malaysia.

Sembcorp Marine's warning that 2019 will be another loss-making year sent its shares tumbling by almost 5 per cent on Tuesday. The profit guidance also marked a reversal from president and CEO Wong Weng Sun's comments last year that 2019 could be the year when the shipbuilder and engineering group finally turned around.

ARA H-Trust's maiden DPS beats forecast. Lower property expenses and borrowing costs outweighed softer gross revenue at ARA US Hospitality Trust. The hospitality trust's maiden reporting showed that between May 9 and June 30, its distribution per stapled security was 1.36 US cents.

Developer Tee Land - which sank deeper into the red in its latest fiscal year - sold apartments at upmarket The Peak@Cairnhill at a loss, as a tough market has made shifting units tougher. Net loss widened to S$23.8 million

CDL Hospitality Trusts  on Tuesday posted a 3.3 per cent fall in its total distribution per stapled security  to 2.07 Singapore cents for the second quarter, down from 2.14 cents in the same period last year.

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

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Top Glove 1.48 +0.01 (0.68%)
Sembcorp Marine 1.26 0.00 (0.00%) 1,524 
TEE Land 0.131 0.00 (0.00%) 350 
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