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Author: traderhub8   |   Latest post: Fri, 23 Aug 2019, 6:13 PM

 

Phillip Capital Morning Note - 7 Aug 2019

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The Singapore Exchange (SGX) and the National Stock Exchange of India (NSE) have obtained regulatory support for a joint proposal to have trades in SGX's popular Nifty futures contracts executed in Gujarat International Financial Services Centre, or GIFT City.

Singapore Medical Group (SMG) boosts ownership in Vietnam clinics. SMG said on Tuesday that it has exercised its option to convert the convertible loan of US$689,360 granted to CityClinic Asia Investments (CCAI) into 177,670 shares of CCAI at the conversion price of US$3.88 per share. Upon conversion, SMG will acquire an additional 65,647 shares from six existing shareholders of CCAI at a price of US$3.88 per share for a total cash consideration of US$255,000.

EC World Reit on Tuesday posted lower second-quarter distribution per unit (DPU) of 1.547 Singapore cents from 1.57 cents, as gross revenue fell amid "an uncertain macro environment", according to the Chinese e-commerce logistics-focused Reit.

China Sunsine Chemical Holdings on Tuesday posted a net profit of 155.8 million yuan (S$31 million) in the second quarter, down 35 per cent from the same period a year earlier. Revenue in the three months ended June 30 fell 17 per cent to 727 million yuan as a lower average selling price (ASP) offset a rise in sales volume.

StarHub saw earnings fall again by the double-digits in the second quarter on weaker operating profits and higher finance costs, in results released on Tuesday.

Source: The Business Times

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