Latest Posts By Joelton
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| 31-Mar-2020 09:06 |
Second Chance
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good divident yield
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Second Chance Properties TUE, MAR 31, 2020 - 8:43 AM The mainboard-listed company on Monday posted a 23.1 per cent drop in net profit in its second quarter ended Feb 29, despite a slight increase in revenue. The difference was due mainly to a fair-value loss on financial assets of S$0.7 million in the second quarter this year, compared to a fair-value gain of S$0.2 million last year. Second Chance Properties shares closed unchanged at S$0.17 on Monday before the results were released. |
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| 31-Mar-2020 09:03 |
Zhongmin Baihui
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Very Bullish counter, cheong ah!!
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Zhongmin Baihui Retail Group TUE, MAR 31, 2020 - 8:43 AM The mainboard-listed operator of more than a dozen malls in China posted a net loss of 5.8 million yuan (S$1.16 million) for its fourth quarter ended Dec 31, 2019, widening from a net loss of 6.6 million yuan the year before. The counter closed flat at 62.5 Singapore cents on Monday, before the results were released. https://www.businesstimes.com.sg/stocks/stocks-to-watch-dbs-singtel-singapore-airlines-city-dev-flt-fcot |
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| 31-Mar-2020 08:58 |
Low Keng Huat
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Low Keng Huat
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Stocks to watch: DBS, Singtel, Singapore Airlines, City Dev, FLT, FCOT TUE, MAR 31, 2020 - 8:43 AM Low Keng Huat (Singapore): The mainboard-listed building company recorded a jump in net profit of 264 per cent to S$12.7 million for its fourth quarter ended Jan 31, 2020, on the back of higher revenue. Higher profit in the hotel segment was mainly due to the write-back of provision for impairment no longer required as business commenced at Citadines Balestier. The counter closed down 1.5 Singapore cents or 3.8 per cent to 38 cents on Monday before the announcement. https://www.businesstimes.com.sg/stocks/stocks-to-watch-dbs-singtel-singapore-airlines-city-dev-flt-fcot |
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| 30-Mar-2020 17:59 |
Clearbridge
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SARS RELATED PLAYS..
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https://www.biolidics.com/newsroom/biolidics-covid19-OEM-press-release-final.pdf Biolidics To Launch Its Rapid Test Kit For COVID-19 Obtains Approval From Singapore&rsquo s Health Sciences Authority For Its Rapid Test Kit To Be Used In Singapore &bull The COVID-19 outbreak has been declared a pandemic and there are more than 720,000 confirmed cases(1) with rising number of new cases globally on a daily basis &bull Biolidics&rsquo easy-to-use rapid test kit can detect COVID-19 using serum, plasma or whole blood samples with an accuracy of more than 95% in 10 minutes &bull Singapore&rsquo s Health Sciences Authority has given provisional authorisation for the rapid test kit to be used in Singapore &bull The World Health Organisation has recently called on all countries to ramp up their testing programmes as it is the best way to slow the advance of the COVID-19 pandemic Singapore, 30 March 2020 &ndash Biolidics Limited (&ldquo Biolidics&rdquo or the &ldquo Company&rdquo and together with its subsidiaries, the &ldquo Group&rdquo ), a medical technology company with a focus on cancer diagnostic solutions, is pleased to announce it has launched its rapid test kit for the Novel Coronavirus 2019 (&ldquo COVID-19&rdquo ) and it has entered into a manufacturer agreement with a diagnostic kit manufacturer to customise and manufacture the rapid test kits. The first batch of Biolidics&rsquo rapid test kits is expected to be available in April 2020. Working in close collaboration with the diagnostic kit manufacturer, the rapid test kit has undergone extensive validation in compliance to ISO13485 requirements. Using serum, plasma or whole blood samples, Biolidics&rsquo rapid test kit can detect COVID-19 with an accuracy of more than 95% in 10 minutes. Notably, Biolidics has obtained provisional authorisation from Singapore&rsquo s Health Science Authority for its rapid test kit to be used in Singapore. In addition, Biolidics is working closely with Clearbridge Health Limited (&ldquo Clearbridge Health&rdquo ) to obtain the relevant approval and/or authorisation from the various health authorities in the region for the use of the rapid test kit. Leveraging on Clearbridge Health&rsquo s distribution platform of healthcare solutions and technologies in Asia, particularly in Philippines, Malaysia, Indonesia and Hong Kong, Biolidics is also looking to market and deploy its rapid test kit in these countries once the relevant approval and/or authorization is obtained in the respective countries. Biolidics&rsquo rapid test kit is easy-to-use and can enable more effective and efficient decentralized screening among suspected patients. As such, the rapid test kit is suitable to be used for screening of suspected patients in the following scenarios, among others: - Points of border entry - Potential COVID-19 clusters Currently, polymerase chain reaction (&ldquo PCR&rdquo ) testing is used to confirm patients with COVID19 but it is a laboratory technique and requires laboratory specialists and dedicated medical testing equipment, hence PCR testing for COVID-19 generally requires at least 3 hours to obtain the test results. The Covid-19 has been declared a pandemic by World Health Organisation (&ldquo WHO&rdquo ) and there are more than 720,000 confirmed cases with rising number of new cases globally on a daily basis. On 16 March 2020, WHO has called on all countries to ramp up their testing programmes as it is the best way to slow the advance of the coronavirus pandemic(2) . Given the increasing concerns over the spread of COVID-19, there is a growing demand for a simple, fast and accurate solution to control and reduce the spread of COVID-19. Mr Jeremy Yee ( 余 斌 ), Non-Executive Non-Independent Chairman of Biolidics, said, &ldquo Developing affordable, accurate test kits for COVID-19 have been one of the biggest challenges in the pandemic. Hence, I would like to express special thanks to the collective efforts and commitment of our team to accelerate the development and commercialisation of our rapid test kit for COVID-19.&rdquo Dr Leong Man Chun, Interim Chief Executive Officer of Biolidics, added, &ldquo Testing for COVID19 is vital to track and contain the pandemic which has spread rapidly across the world. Utilising Biolidics&rsquo rapid test kit, we can enable point-of-care testing for larger pool of clusters, resulting in more effective and efficient decentralized screening among suspected cases. With faster and accurate results, it can guide treatment decisions and further enhance public safety measures.&rdquo Dr Wang Qing-Yin, Chief Operating Officer of Biolidics, concluded, &ldquo As Biolidics continues to evolve into a diagnostic-focused medical technology company, we aim to develop a broader portfolio of innovative diagnostic solutions to lower healthcare costs and improve clinical outcomes.&rdquo |
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| 30-Mar-2020 09:33 |
Prime US ReitUSD
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Prime US Reit SGX debut 19 JUL 2019
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Prime US Reit seeking assets in growing job marketsMON, MAR 30, 2020 - 5:50 AMFOR property veteran Barbara Cambon, buildings are not just a heap of bricks and concrete. Instead, they are dynamic structures where people learn, work, play and dream. " Real estate is viewed as solid structures, but we must also understand the dynamism and diversity that goes on within... https://www.businesstimes.com.sg/companies-markets/prime-us-reit-seeking-assets-in-growing-job-markets |
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| 30-Mar-2020 09:29 |
Riverstone
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RIVERSTONE HOLDINGS LIMITED
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Riverstone sees demand surge for healthcare gloves amid virus outbreakMON, MAR 30, 2020 - 5:50 AM Aside from boosting production capacity, it has been reducing its reliance on labour in the last few years by adopting automation. GLOVEMAKER Riverstone Holdings has seen a surge in orders as the Covid-19 outbreak creates increased demand for healthcare gloves. The Malaysia-headquartered company is now producing as many as it can in a race to meet global shortages. " We are seeing such a large surge in demand... https://www.businesstimes.com.sg/companies-markets/riverstone-sees-demand-surge-for-healthcare-gloves-amid-virus-outbreak |
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| 30-Mar-2020 09:26 |
First Sponsor
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SGX grants time extensions for First Sponsor, Serrano to hold AGMsSUN, MAR 29, 2020 - 8:23 PM Property developer First Sponsor Group on Saturday said it has obtained permission from the Singapore Exchange Regulation (SGX RegCo) to postpone its annual general meeting (AGM) for its financial year ended Dec 2019, in light of stricter measures that limit gathering sizes to prevent the further spread of Covid-19. " The company sought the waiver (from complying with listing rules) as it is waiting for details as to the alternative arrangements to be put in place in relation to the manner of conduct of the AGM and it will require time to put in place such arrangements," it said in a notice filed to the exchange. It said that it will issue its annual report to its shareholders and the Singapore Exchange SecuritiesTrading by April 15. According to its indicative timeline, it seeks to issue its notice of AGM and letter to shareholders in relation to the proposed change of auditors and proxy forms by June 14, and will hold its AGM by June 30. Separately, Catalist-listed interior designer Serrano on Saturday said that SGX has granted a four-month time extension to April 30 for the company to submit its trading resumption proposal a two-month extension until April 30 to announce its full year unaudited financial results for FY19 and a two-month extension until June 30 to hold its FY19 AGM, among other things. https://www.businesstimes.com.sg/real-estate/sgx-grants-time-extensions-for-agms-to-first-sponsor-serrano |
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| 30-Mar-2020 09:25 |
Winmark Inv
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CLASS of 2014 IPO Code 40(x)
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SGX grants time extensions for First Sponsor, Serrano to hold AGMsSUN, MAR 29, 2020 - 8:23 PM Property developer First Sponsor Group on Saturday said it has obtained permission from the Singapore Exchange Regulation (SGX RegCo) to postpone its annual general meeting (AGM) for its financial year ended Dec 2019, in light of stricter measures that limit gathering sizes to prevent the further spread of Covid-19. " The company sought the waiver (from complying with listing rules) as it is waiting for details as to the alternative arrangements to be put in place in relation to the manner of conduct of the AGM and it will require time to put in place such arrangements," it said in a notice filed to the exchange. It said that it will issue its annual report to its shareholders and the Singapore Exchange SecuritiesTrading by April 15. According to its indicative timeline, it seeks to issue its notice of AGM and letter to shareholders in relation to the proposed change of auditors and proxy forms by June 14, and will hold its AGM by June 30. Separately, Catalist-listed interior designer Serrano on Saturday said that SGX has granted a four-month time extension to April 30 for the company to submit its trading resumption proposal a two-month extension until April 30 to announce its full year unaudited financial results for FY19 and a two-month extension until June 30 to hold its FY19 AGM, among other things. https://www.businesstimes.com.sg/real-estate/sgx-grants-time-extensions-for-agms-to-first-sponsor-serrano |
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| 30-Mar-2020 09:24 |
SGX
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SGX
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SGX grants time extensions for First Sponsor, Serrano to hold AGMsSUN, MAR 29, 2020 - 8:23 PM Property developer First Sponsor Group on Saturday said it has obtained permission from the Singapore Exchange Regulation (SGX RegCo) to postpone its annual general meeting (AGM) for its financial year ended Dec 2019, in light of stricter measures that limit gathering sizes to prevent the further spread of Covid-19. " The company sought the waiver (from complying with listing rules) as it is waiting for details as to the alternative arrangements to be put in place in relation to the manner of conduct of the AGM and it will require time to put in place such arrangements," it said in a notice filed to the exchange. It said that it will issue its annual report to its shareholders and the Singapore Exchange SecuritiesTrading by April 15. According to its indicative timeline, it seeks to issue its notice of AGM and letter to shareholders in relation to the proposed change of auditors and proxy forms by June 14, and will hold its AGM by June 30. Separately, Catalist-listed interior designer Serrano on Saturday said that SGX has granted a four-month time extension to April 30 for the company to submit its trading resumption proposal a two-month extension until April 30 to announce its full year unaudited financial results for FY19 and a two-month extension until June 30 to hold its FY19 AGM, among other things. https://www.businesstimes.com.sg/real-estate/sgx-grants-time-extensions-for-agms-to-first-sponsor-serrano |
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| 30-Mar-2020 09:19 |
Straco
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China Tourism Business : Good Potential
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More Info> > > Straco says Shanghai Ocean Aquarium to remain closed due to Covid-19 SUN, MAR 29, 2020 - 10:41 PM The board of tourism player Straco Corporation on Sunday said that its attraction, Shanghai Ocean Aquarium, will remain closed from March 30, 2020, in response to the evolving situation of Covid-19 in the city. It first announced the closure of the aquarium in January, and earlier in March, said that the aquarium would resume normal operation from March 18, 2020. " These precautionary measures are in conformance with the advice of the local authorities and for the health and safety of all employees and the general public. The re-opening of the aquarium will be announced in due course, when situation improves," Straco said on Sunday. It added that it will continue to monitor the financial impact the crisis may have on its financial performance. https://www.businesstimes.com.sg/companies-markets/straco-says-shanghai-ocean-aquarium-to-remain-closed-due-to-covid-19 |
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| 28-Mar-2020 13:54 |
SingTel
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Singtel Bullish???
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Singtel' s video streaming service Hooq in liquidation FRI, MAR 27, 2020 - 2:45 PM | UPDATED FRI, MAR 27, 2020 - 6:09 PM
HOOQ Digital, a joint-venture company in which Singtel has an indirect 76.5 per cent effective interest, has commenced a creditors' voluntary liquidation. A shareholder meeting as well as a creditor meeting will take place on Apr 13, the video-on-demand streaming service provider said in a media statement on Friday afternoon. Hooq has appointed Messrs Lim Siew Soo and Brendon Yeo Sau Jin as its joint and several provisional liquidators to oversee ongoing operations in the interim period. Since the company was founded five years ago, " significant structural changes" have occurred in the over-the-top (OTT) video market and its competitive landscape, Hooq said in its statement. OTT film and television content is provided via a high-speed Internet connection rather than a cable or satellite provider. " Global and local content providers are increasingly going direct, the cost of content remains high, and emerging-market consumers' willingness to pay has increased only gradually amid an increasing array of choices," Hooq said As a result of these changes, a viable business model for an independent OTT distribution platform has become increasingly challenged, it added. Hooq has thus been unable to grow sufficiently to provide sustainable returns nor cover escalating content costs and the continuous operating costs of the platform, according to the statement. Janice Chong, Fitch Ratings' director of Asia-Pacific corporate ratings, told The Business Times (BT) that the premium OTT video business is challenging amid " intense competition" in video-streaming services, the significant content investment required and the lack of ability to monetise content for telcos. Singtel disclosed in a brief regulatory filing on Friday that the Hooq liquidation is not expected to have a material impact on the telco' s net tangible assets or earnings per share. For its fiscal third quarter ended Dec 31, 2019, operating revenue from the digital life segment shrank by almost 15 per cent from a year ago to S$336 million. The bulk of that came from Singtel' s digital marketing arm Amobee (S$324 million), while the remaining S$12 million mainly comprised revenues from Hooq and DataSpark. Revenues from the latter two units had increased from a year ago, partly offsetting Amobee&rsquo s drop in revenue, Singtel said then. Operating revenue from digital businesses - including revenues from Amobee, Hooq and DataSpark - made up about 7.4 per cent of the S$4.38 billion in total group operating revenue for the third fiscal quarter. Group digital life chief Samba Natarajan in May 2019 said Hooq' s operating business continued to grow, and that the revenue generated has more than doubled over the past year. He noted a month later that " value realisation" for units such as Hooq and Amobee could involve an initial public offering or new strategic partners taking stakes. Fitch' s Ms Chong on Friday told BT that there is an " intensifying" need to turn around the telco' s digital life segment, due to challenging growth prospects in Singtel' s home markets and the impending 5G capital expenditure which are both putting pressure on the group' s cash flows. " Amobee, the largest portion of Singtel' s digital life segment, is already Ebitda-positive, and the quickest solution to turn around this segment could possibly lead to the discontinuation of loss-making Hooq operations," Ms Chong added. In Singtel&rsquo s annual report for the fiscal year ended March 31, 2019, the telco said Hooq had &ldquo transformed&rdquo its business model over the past year to offer affordable daily plans, as well as a freemium layer which includes free-to-air channels, advertising video on demand and subscription video on demand. To drive audience growth and scale, Hooq also started strategic digital partnerships with Hotstar in India and Grab in South-east Asia to provide in-app viewing and easy access to Hooq content, according to the 2019 annual report published last June. Singtel, Sony Pictures Television and Warner Bros Entertainment established Hooq in 2015 to offer movies and television series to viewers in Asia via streaming or downloading. Singtel shares gained S$0.06 or 2.4 per cent to S$2.58 as at 2.18pm on Friday. https://www.businesstimes.com.sg/companies-markets/singtels-video-streaming-service-hooq-in-liquidation |
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| 28-Mar-2020 13:49 |
Genting Sing
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Genting SP Next Move
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Genting SG receives major lifeline from Resilience BudgetSamantha Chiew 27/03/2020, 12:01pm SINGAPORE (Mar 27): Analysts are more upbeat on Genting Singapore (GENS) as the group managed to receive a major lifeline in the form of property tax and wage setoffs by the government. The Singapore government yesterday announced a $48 billion Resilience Budget to help companies and individuals tide through the negative effects of the Covid-19 outbreak. With this, Maybank Kim Eng and CGS-CIMB is keeping &ldquo buy&rdquo calls on GENS, with target prices of 84 cents and 76 cents, respectively. Two measures from the Resilient Budget will impact GENS&rsquo Resort World Sentosa (RWS): property tax rebate for integrated resorts will be raised to 60% from 10% and the government pay companies 25% (general) or 75% (tourism) of monthly wages for every local worker capped at SGD4.6k each for 9 months till end-2020. In FY18, GENS paid salaries of some $456.7 million to about 13,000 employees. This translates into average salary per employee of about $2,900 per month. That said, &lsquo Integrated Resort&rsquo does not appear to be categorized under ' tourism' in the relevant annexure of the Resilience Budget. In a Thursday report, Maybank analyst Yin Shao Yang says, &ldquo Thus, GENS may receive 75% wage set off for its hotels and theme park workers but just 25% for its casino workers. We understand that locals account for about 70% of GENS&rsquo some 13,000 employees (legal minimum: 65%).&rdquo CGS-CIMB analyst Lim Siew Khee on the other hand, reckons that the group could save up to $171 million in FY20. &ldquo We estimate the JSS could result in cost savings of $50-150 million (about 4- 12.3% of FY20 admin costs) assuming 60% of GENS workers are eligible locals, FY20 staff costs are some $450 million and applying the wage grant brackets of 25-75%. Should both these measures kick in, FY20 EBITDA could be lifted by about 10-26% and FY20 net profit by around 22-54%,&rdquo says Lim. Meanwhile, Lim awaits further reconfirmation of such cost savings from management but is positive that the measures could cushion the impact from the significant reduction in tourist flows. As at 11.50pm, shares in GENS are trading at 7.32% higher at 66 cents or 0.9 times FY20 book with a dividend yield of 6.5%, according to Maybank&rsquo s estimates. https://www.theedgesingapore.com/capital/brokers-calls/genting-sg-receives-major-lifeline-resilience-budget |
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| 28-Mar-2020 13:45 |
IHH
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medical stock that worth look upon
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IHH Healthcare&rsquo s auditor issues qualified opinionThe external auditor for IHH Healthcare has issued a qualified opinion as ongoing probes relating to the group&rsquo s acquisition of Fortis Healthcare may have an impact on adjustments to be recorded in its financial statements. KPMG said that except for the Fortis deal, IHH&rsquo s latest full-year financial statements give a &ldquo true and fair&rdquo view of the financial position of the group as of Dec 31 last year. There was a similar qualified opinion in IHH&rsquo s 2018 audited financial statements, said the Kuala Lumpurbased hospital operator. IHH completed the acquisition of Indian hospital chain Fortis Healthcare and its units on Nov 13, 2018. Before the deal, an investigation by an independent legal firm for the former Fortis board had indicated systematic lapses and/or overriding of internal controls. The Fortis group had also initiated inquiries of the management of entities within the group. There are also investigations by the Securities and Exchange Board of India and the Serious Fraud Investigation Office under India&rsquo s Corporate Affairs Ministry. Owing to the ongoing inquiries &ndash including the need for any additional investigations by Fortis &ndash the external auditors for Fortis are unable to determine if there are any regulatory non-compliance, and if additional adjustments or disclosures may be required as a result of further findings of the investigations. IHH posted a 15 per cent drop in net profit, excluding exceptional items, for the fourth quarter of last year, as new loans were taken for the Fortis acquisition and for working capital while a unit&rsquo s euro bank loans and interest were swapped into the appreciating Turkish lira. IHH shares closed 4.14 per cent higher at $1.76 yesterday. https://www.straitstimes.com/business/ihh-healthcares-auditor-issues-qualified-opinion |
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| 28-Mar-2020 13:41 |
SIA
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SIA
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Coronavirus: SIA must move fast when recovery comesPUBLISHED 8 HOURS AGO
The message is loud and clear. Singapore will not let its national carrier go into a nosedive amid the worst crisis the air travel industry has ever seen.
By the end of May, most airlines will be bankrupt, warned the Centre for Aviation. Singapore Airlines (SIA) will not be on that list. " Through the Government' s support for the aviation sector and, if necessary, more direct support measures, we will make sure that SIA is able to come through this in good shape," said Deputy Prime Minister and Finance Minister Heng Swee Keat in Parliament on Thursday when he unveiled a $48.4 billion package to support businesses, workers and families battered by the coronavirus pandemic. This is not just about SIA. At stake is the viability of the air hub. Mr Heng stressed: " A diminished SIA will undermine our air hub' s ability to recover from the crisis." This will in turn have grave consequences for the economy, given that the air hub supports critical sectors such as tourism, manufacturing and logistics. Strong air links also help Singapore-based companies access opportunities overseas and make the Republic an attractive place for foreign firms looking to operate in Asia. Last year, the SIA Group, comprising the parent carrier, regional arm SilkAir, budget carrier Scoot and SIA Cargo, accounted for more than half of Changi Airport' s passenger traffic and cargo volumes. The group' s extensive network - with SIA and SilkAir flying to 94 destinations in 34 countries pre-coronavirus - also attracts foreign carriers which fly here so that they can tap its connectivity to the rest of the region. Covid-19: Don' t miss the latest on the outbreak and its impact Like other Singapore-based airlines and aviation businesses, SIA will receive wage support and other help such as rental rebates for lounges and offices at Changi. Free aircraft parking has also been extended from the end of July to the end of October, as part of the latest help measures. On top of that, SIA has been thrown a $15 billion lifeline, backed by Temasek which owns 55 per cent of the carrier. The plan is to issue new shares to current shareholders and mandatory convertible bonds. Temasek has pledged to take up shares and bonds that are not subscribed to. In the meantime, SIA has also arranged for a $4 billion bridge loan facility with DBS Bank. The liquidity is critical for the Singapore carrier which has slashed 96 per cent of its capacity and grounded 138 out of 147 SIA and SilkAir planes. Before the cuts, the SIA Group operated over 250 flights a day from Changi Airport. The SIA Group' s extensive network - with Singapore Airlines and SilkAir flying to 94 destinations in 34 countries pre-coronavirus - attracts foreign carriers which fly to Singapore so that they can tap the group' s connectivity to the rest of the region. There is much uncertainty over how long the crisis will last but when recovery comes, SIA must be ready to pounce so that the air hub can recover quickly. Their fates have never been so intertwined. Industry veterans would remember well that in 2003 - at the height of industrial tensions between SIA and its unions amid the severe acute respiratory syndrome (Sars) crisis - founding Prime Minister Lee Kuan Yew made it very clear that if the choice was between the national carrier and air hub, he would pick the latter. A lot has changed since then that has brought the two closer. The boom in demand for air travel in the last 10 to 12 years intensified competition among existing airlines and led to the creation of new ones, especially in the budget space. Airports around the region expanded to increase handling capacity, posing a challenge for Changi Airport and the Singapore air hub. New planes that could fly farther were threatening the viability of stopover hubs like Changi. Mr Abbas Ismail, course chair of the diploma in aviation management at Temasek Polytechnic, said: " Singapore now had many more hubs to compete with as passengers had more airline choices." As the industry evolved, the symbiotic relationship between airports and their home carriers strengthened. Mr Abbas said: " If you look at hubs around the world, they are either supported by a strong local airline (Dubai, Doha, Singapore) or a very attractive city where there is strong demand for travel (Bangkok, London, New York)." As Singapore' s economy continued to grow, so did SIA' s national role, he said. " Singapore cannot depend on a foreign carrier to meet the country' s aviation needs. Our economy depends on the free flow of passengers travelling to and from Singapore and we cannot be held ransom by the whims and fancies of a foreign carrier," he added. It is against this backdrop that one can appreciate why it is so important for Singapore that the national carrier remains steady. Professor Guido Gianasso, an aviation expert from Nanyang Technological University' s Nanyang Business School, said: " Compared with many other airlines, SIA has one important strength: having the Government, trade unions and all Singapore actors united and determined to save it. This is certainly not the case for many airlines in Europe or the US." SIA is by no means out of the woods and staff who are facing pay cuts must be prepared for tough times to continue for a while. They can, however, take comfort, knowing that unlike many other airlines that could very well go bust, theirs is here to stay. Covid-19 will pass and, when it does, it will offer new opportunities to those who survive. There will be industry consolidation many of the weakest airlines will disappear. Critical financial support that puts SIA in a very strong position during a very challenging time could potentially enable the group to pursue acquisition opportunities that arise from this crisis, said independent aviation analyst Brendan Sobie. SIA must wait for the day to come and when it does, move quickly to take advantage of the economic recovery. With strong government backing, there is no reason why Singapore' s national carrier cannot fly high again. https://www.straitstimes.com/singapore/transport/sia-must-move-fast-when-recovery-comes |
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| 28-Mar-2020 13:36 |
SIA
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SIA
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S$15b cash call gives SIA a shot at surviving Covid-19 SAT, MAR 28, 2020 - 5:50 AM SINGAPORE Airlines' massive cash call of up to S$15 billion - backed by Temasek Holdings' financial heft - will boost the national carrier' s stamina to endure the Covid-19 pandemic that has decimated global air travel. The proposed exercise, involving a rights issue of new... https://www.businesstimes.com.sg/companies-markets/s15b-cash-call-gives-sia-a-shot-at-surviving-covid-19 |
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| 28-Mar-2020 13:31 |
SIA
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SIA
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Singapore Airlines shares fall after S$8.8b cash call unveiledFRI, MAR 27, 2020 - 10:36 AM SINGAPORE Airlines' (SIA) stock price saw some volatility on Friday morning, shortly after the flag carrier proposed issuing bonds as well as new shares at a hefty discount to raise some S$8.8 billion. The counter plunged as much as 10.1 per cent or S$0.66 to S$5.85 about 10 minutes after the opening bell. It then rebounded to S$6.31 at around 9.40am, before easing slightly to trade at S$6.29, down S$0.21 or 3.2 per cent from the last close, as at 10.32am on Friday. About 9.8 million shares of SIA had changed hands by 10.23am, making it one of the most actively traded counters on the Singapore bourse for the morning. Trading in the stock had resumed on Friday morning, after the trading halt from Thursday morning was lifted. https://www.businesstimes.com.sg/companies-markets/hot-stock-singapore-airlines-shares-fall-after-s88b-cash-call-unveiled |
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| 28-Mar-2020 13:25 |
UtdHampshReitUSD
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UtdHampshReitUSD
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United Hampshire US Reit says portfolio ' remains resilient' amid Covid-19 pandemic FRI, MAR 27, 2020 - 2:35 PM UNITED Hampshire US Real Estate Investment Trust (United Hampshire US Reit) on Friday said its portfolio " remains resilient and well-positioned" to navigate the novel coronavirus pandemic. This is because more than 70 per cent of its base rental income comes from tenants in businesses deemed essential, a majority of which remain open during widespread lockdowns. The Reit' s portfolio tenants consist of grocery-anchored and necessity-based retail properties, as well as self-storage facilities in the US. The properties are located in New York, New Jersey, Massachusetts, North Carolina, Florida and Maryland. Grocery and necessity properties refer to grocers, wholesalers, home improvement retailers and discounters in the US. These include brands such as Walmart, BJ' s Wholesale Club, Lowe' s and Home Depot. Robert Schmitt, chief executive of the Reit' s manager, said tenants which are necessity-based retailers remain open for business and have experienced a rise in demand for household products over the past few weeks. https://www.businesstimes.com.sg/companies-markets/united-hampshire-us-reit-says-portfolio-remains-resilient-amid-covid-19-pandemic |
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| 28-Mar-2020 13:18 |
Frasers HTrust
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FRASER HOSPITALITY TRUST - 8% YIELD . NAV : 74.8c
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Frasers Hospitality Trust expects Q2 performance to be hit by Covid-19FRI, MAR 27, 2020 - 9:27 PM | UPDATED FRI, MAR 27, 2020 - 10:25 PM
FRASERS Hospitality Trust (FHT) on Friday announced that its financial performance for the second quarter of FY20, which ends on March 31, is expected to be adversely impacted by the Covid-19 pandemic. This comes as its portfolio, comprising 15 assets across Asia, Australia and Europe, " witnessed weaker operating performance" amid the virus outbreak. The implementation of tighter entry restrictions by various countries led to a fall in demand for travel and accommodation over the weeks, said FHT, a stapled group comprising Frasers Hospitality Real Estate Investment Trust and Frasers Hospitality Business Trust In addition, FHT has temporarily closed its food-and-beverage outlets in its hotels in Sydney and Melbourne, in response to the Australian authorities imposing stricter measures such as social distancing and halting of activities. FHT will also progressively close its properties in the United Kingdom (UK) temporarily, with the UK government having imposed similar precautionary measures. While the full extent on its financial performance for Q2 of FY2020 cannot be determined at this point, FHT said that the fixed-rent component in the master lease structure over most of its portfolio will provide minimum rent and downside protection. https://www.businesstimes.com.sg/companies-markets/frasers-hospitality-trust-expects-q2-performance-to-be-hit-by-covid-19 |
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| 28-Mar-2020 13:10 |
BlackGoldNatural
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Blackhorse
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BlackGold extends cut off date for bond subscription agreementFRI, MAR 27, 2020 - 5:46 PM BLACKGOLD Natural Resources is extending the cut-off date for Jinzhou Business Investment Logistics Co (JBIL) to complete the subscription of an initial tranche of bonds, said the Catalist-listed coal-mining company in a regulatory update on Friday. This comes as the precautionary measures implemented by various offices in China on the back of the Covid-19 outbreak have hindered fulfillment of certain conditions of the convertible bond agreement. The company had announced in February that it was looking to raise up to S$25 million by issuing interest-free convertible bonds to three investors, to finance new plans for the business. JBIL had agreed to subscribe for an initial tranche of bonds with a principal amount of S$3 million, subject to conditions to be satisfied on March 30. BlackGold and JBIL have since " mutually agreed in writing" to extend the cut-off date to June 1. BlackGold shares closed flat at S$0.01 on Friday. https://www.businesstimes.com.sg/companies-markets/blackgold-extends-cut-off-date-for-bond-subscription-agreement |
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| 28-Mar-2020 13:00 |
Koyo Intl
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Koyo - Another Stock to run UP
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Koyo unit bags electrical contractsFRI, MAR 27, 2020 - 6:34 PM KOYO International announced on Friday that its wholly-owned subsidiary Koyo Engineering (South-east Asia) has been awarded a number of electrical contracts that will lift the group' s current order book to S$116 million. The contracts, which were handed out by an independent third party, have various contract periods the latest contract end-date is in the first quarter of March 2022. The contracts on hand have completion dates ranging from financial years 2021 to 2026. The contracts are expected to contribute positively to the earnings of the group for the financial year ending Dec 31, 2020, said Koyo. None of the directors or substantial shareholders has any direct or indirect interest in the contracts, other than through their shareholding interests in the company. Koyo shares closed flat at S$0.06 on Friday. https://www.businesstimes.com.sg/companies-markets/koyo-unit-bags-electrical-contracts |
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