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Author: traderhub8   |   Latest post: Fri, 13 Dec 2019, 8:27 AM

 

Phillip Capital Morning Note - 8 Nov 2019

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Walt Disney on Thursday reported better-than-expected quarterly results, fueled by the release of blockbuster films Aladdin and The Lion King as it prepared for its new streaming television service.

Sumitomo Mitsui Financial Group (SMFG) and Singapore lender OCBC Group Holdings are vying to buy Indonesia's PT Bank Permata and are working on respective offers, sources familiar with the matter said on Thursday.

European shares rose for a fifth straight session on Thursday to hit fresh four year highs as investors cheered signs of progress in US-China trade talks and largely positive earnings reports from a host of companies.

The Dow and S&P 500 finished at fresh records on Thursday following Chinese comments that pointed to a potential removal of tariffs in the long-running trade war with the United States.

WHILE most regional markets continued to tread water pending Sino-US trade developments, Singapore’s bourse again seemed unfazed on Thursday, its activities swayed more by local corporate developments instead.

Capital World, which recently had its ability to continue as a going concern flagged by its auditor, saw a subsidiary scrap its plans to buy a Malaysian company that held joint development rights for some land in Johor.

Procurri Corp is going over a third party’s recent offer to buy some of its assets, it said in an update on Thursday night, as it sought to extend its trading halt into a voluntary trading suspension.

Early childhood education player MindChamps PreSchool saw third-quarter earnings plummet on surging expenses, despite a swell in turnover from new pre-schools in its stable.

Koh Brothers saw third-quarter net profit plunge on lower sales, as the construction and building materials division recognised less revenue.

LIPPO Malls Indonesia Retail Trust (LMIRT) upped its third-quarter distribution per unit (DPU) to 0.56 Singapore cent, from 0.49 Singapore cent before, in results released on Thursday.

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

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