Toshiba to start taking bids in June for its Swiss unit Landis+Gyr
[TOKYO] Japan's Toshiba Corp will start taking bids for Landis+Gyr, its Swiss smart meter unit, as early as June, Kyodo news agency reported on Tuesday.
Interpol-led operation uncovers more than 9,000 malware-hit servers in Asean
PC Lee - SINGAPORE (April 25): An Interpol-led operation targeting cybercrime across the Asean region has identified nearly 9,000 malware-infected Command and Control servers and hundreds of compromised websites, including government portals.
The threats posed by the 8,800 C2 servers found to be active across eight countries included various malware families including those targeting financial institutions, spreading ransomware, launching Distributed Denial of Service (DDoS) attacks and distributing spam. Investigations into the C2 servers are ongoing.
Analysis also identified nearly 270 websites infected with a malware code which exploited a vulnerability in the website design application. Among them were several government websites which may have contained personal data of their citizens.
A number of phishing website operators were also identified, including one with links to Nigeria, with further investigations into other suspects still ongoing. One criminal based in Indonesia selling phishing kits via the Darknet had posted YouTube videos showing customers how to use the illicit software.
The operation, conducted out of the Interpol Global Complex for Innovation (IGCI) in Singapore, brought together investigators from Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam to share information on specific cybercrime situations in each country. Additional cyber intelligence was also provided by China.
Experts from seven private sector companies - Trend Micro, Kaspersky Lab, Cyber Defense Institute, Booz Allen Hamilton, British Telecom, Fortinet and Palo Alto Networks - also took part in pre-operational meetings in order to develop actionable information packages.
IGCI Executive Director Noboru Nakatani said the operation was a perfect example of how the public and private sectors can work efficiently together in combating cybercrime.
“With direct access to the information, expertise and capabilities of the private sector and specialists from the Cyber Fusion Centre, participants were able to fully appreciate the scale and scope of cybercrime actors across the region and in their countries,” said Nakatani.
“Sharing intelligence was the basis of the success of this operation, and such cooperation is vital for long term effectiveness in managing cooperation networks for both future operations and day to day activity in combating cybercrime,” added Nakatani.
The operation also highlighted the need for law enforcement to proactively investigate vulnerabilities exploited by cybercriminals, rather than waiting for reports from victims.
“The Singapore Police Force will continue to work closely with our Asean counterparts and the Interpol community to eradicate criminal activities in the cyberspace. We will spare no effort to track down cybercriminals who think that they can operate under the impunity of cross jurisdictions,” said Assistant Commissioner Cheng Khee Boon, Commander of SPF’s Cybercrime Command.
Identifying the different legislative requirements and regulations around the region was also an important aspect of the operation, providing participants with a greater knowledge and understanding of the avenues and restrictions in conducting enquiries.
Looming risks subdue Asia stock investors after stellar quarter
Today - SINGAPORE - Investors' enthusiasm for Asian stocks is waning as a raft of political and economic risks takes the shine off the best first-quarter returns in 26 years. Graphic: http://reut.rs/2oFkb6A
That period of strong gains could put Asian...
Asia: Markets, euro build on gains as eyes move to Trump
[HONG KONG] Asian markets extended gains on Tuesday while the euro held up following Emmanuel Macron's first round presidential election win in France, with investors now looking forward to Donald Trump's promised tax reforms.
Low gearing leaves room for Mapletree Industrial Trust growth
Jude Chan - SINGAPORE (April 25): DBS Group Research is keeping its “buy” recommendation on Mapletree Industrial Trust (MINT) with an unchanged target price of $1.94.
This is on the back of “a steady DPU growth profile of 3-4% per annum, higher than its industrial peers,” says DBS lead analyst Derek Tan in a report on Tuesday.
The manager of MINT on Monday reported a 2.2% increase in FY17 distribution per unit to 11.39 cents.
This was mainly attributed to higher rental rates achieved across all property segments with initial contribution from Phase One of the build-to-suit (BTS) development for Hewlett-Packard Singapore.
(See: Mapletree Industrial Trust’s FY16/17 DPU rises 2.2% to 11.39 cents)
“The REIT offers high earnings visibility and we have confidence that the manager has the flexibility to execute on more developments to exploit its conservative balance sheet,” says Tan. “This implies potential upside to earnings.”
Mapletree Industrial Trust has a strong balance sheet with gearing at 29.2% – one of the lowest among Singapore industrial REITs.
“With the manager selective in their deployment and allocation of use of capital, we remain confident that deals, when announced, will be value accretive to unitholders,” says Tan.
While the analyst notes that MINT’s share price has done well in recent times, he believes the stock still offers an attractive total return of close to 15%.
“MINT’s resilience is a value trait in this market and has yet to be reflected in its current share price,” says Tan.
As at 11.34am, units of Mapletree Industrial Trust are trading 2 cents higher at $1.82.
Bleeding-edge test handler gives AEM order book boost
PC Lee - SINGAPORE (April 25): Maybank Kim Eng says AEM’s four-year joint R&D effort with a key US-listed client is paying off.
AEM is the manufacturer of equipment and precision components for the semiconductor, solar, smart card and other industries.
(See also: 3 things you probably didn’t know about AEM Holdings)
(See also: AEM gets CIMB coverage on restructuring and cutting-edge product)
The group has begun volume production for its patented High Density Modular Test (HDMT) handler in 2H16. This resulted from its partnership with the client which is one of the world’s largest semiconductor manufacturers with more than US$170 billion ($237 billion) market cap.
As the sole supplier of the test handler, AEM’s order book surged about four-fold in six months to $152 million as at April 15. Against this backdrop, management has guided 9M17 ended Sept revenue and operating profit of $142 million and $17.5 million, and a dividend payout of not less than 25%.
Conventional handlers like AEM are set up for one test environment and are costly and time-consuming to reconfigure for other tests.
To improve efficiency, industry leader Intel is adopting the HDMT platform, which can achieve 2x cost reduction due to its ability to simultaneously support different test stages for multiple heterogenous test environments.
IT research firm Gartner projects that the number of connected devices will quadruple to 20.8 billion units by 2020, spurred by the proliferation of 5G network and IoT applications.
“The rising needs for mission critical chips from automotive, healthcare, logistics, telecom and other industries, as well as safety issues would also place greater emphasis on testing to ensure chip reliability,” says Maybank analyst Teh Kwong Yew in an unrated report for retail investors published today.
As its key client accounts for roughly 80% of group sales, AEM’s fortunes are closely tied to the client’s business performance as well as capital investment plans, says Teh.
However, the analyst warns that rapid technological advancement could also render its HDMT handler obsolete and threaten sales, given the group’s equipment segment, comprising test handlers and related consumables, contributed 92% of FY16 revenue.
AEM shares are up 31 cents at $1.88.
Keppel's Q1 earnings growth greatly underpinned by divestments
Staff Reporter -
But this cannot go on forever, analysts say.
Keppel Corporation's 24% increase in net profit to $260m was driven primarily by divestment gains, a report by UOB Kayhian said.
For instance, its property earnings were partly prevented from sinking further with the $29m gains recorded from the divestment of its 80% stake in a Surabaya company.
Meanwhile, the divestment of stake in GE Keppel Energy Services which is estimated at $4.5m contributed to the 129% growth in infrastructure net profit.
DBS: 3 SG Stocks To Consider When The US Strikes Syria
Raymond Leung - With the US military strike against Syria under protest of the Russians, how should investors position themselves to protect or gain from the rising geographic risks? In this article, several REITs and stocks are highlighted to help you in such situation.
JTC puts up Tuas South Link 3 site for sale
Chai Hung Yin -
JTC has launched a site at Tuas South Link 3 (Plot 18) - the fourth out of six confirmed list sites for the first half of 2017 - under the industrial government land sales programme, it said in a press release issued on Tuesday.
Seoul: Won slips amid North Korea worries, stocks at 2-year high
[SEOUL] The South Korean won slipped early on Tuesday morning as worries over North Korea grew among investors after US President Donald Trump said the UN Security Council should be prepared to impose new sanctions on North Korea.
AEM's Q1 profit surges to S$4.1m
Chai Hung Yin -
MAINBOARD-LISTED AEM Holdings saw a 17-fold jump in its net profit from a year ago to S$4.1 million in the first quarter of 2017, the company said in a Singapore Exchange filing on Tuesday.
Japan Post to record around 40b yen annual net loss
[TOKYO] Japan Post Holdings Co will book an annual loss of around 40 billion yen (S$507.3 million) on the back of a 400 billion yen impairment charge on its Australian logistics unit, Toll Holdings Ltd, Kyodo news agency reported on Tuesday.
Singapore: SeedPlus reaches final close of first fund at $17.9m
Shiwen Yap - SeedPlus is a seed stage venture fund launched by Jungle Ventures.
The post Singapore: SeedPlus reaches final close of first fund at $17.9m appeared first on DealStreetAsia.
Taiwan: Stocks rise, taking cues from overseas markets
[TAIWAN] Taiwan stocks rose on Tuesday, mainly taking cues from overseas markets, but continued their choppy trading as investors await fresh economic data.
China says fewer graft suspects fleeing as controls stepped up
[BEIJING] The number of corruption suspects fleeing China in the last four years has fallen dramatically as the government steps up controls on things like passport issuance for officials, the ruling Communist Party's anti-graft watchdog said on Tuesday.
Mapletree Industrial Trust's net property income up 6.4% to $66m
Staff Reporter -
Thanks to lower property maintenance expenses.
Mapletree Industrial Trust's recent results have proven its resiliency in the market.
According to OCBC Investment Research, gross revenue increased by 4.5% YoY to $87.8m whilst net property income jumped 6.4% YoY to $66m.
US submarine makes South Korea port call, North remains defiant
[SEOUL] A nuclear-powered US submarine made a port call in South Korea on Tuesday in a show of force amid concerns that North Korea may mark the foundation of its military with a missile launch or a nuclear test, defying US and Chinese pressure.
Frasers Centrepoint Trust Q2 DPU remains steady at 3.04 Singapore cents
Chai Hung Yin -
FRASERS Centrepoint Trust reported a distribution per unit (DPU) of 3.04 Singapore cents for the second quarter of its 2017 financial year, unchanged from a year ago, its manager said in a Singapore Exchange filing on Tuesday.
Australia, New Zealand markets closed for holiday
[HONG KONG] Financial markets in Australia and New Zealand are closed on Tuesday for a public holiday.
Hong Kong: Stocks extend gains at open
[HONG KONG] Hong Kong equities rose soon after opening on Tuesday, building on a three-day gain and following a strong lead from New York and Europe in response to French moderate Emmanuel Macron's first-round presidential election success.
Can Raffles Medical Group count on its China expansion for an earnings boost?
Michelle Zhu - SINGAPORE (April 25): RHB and Maybank Kim Eng Research have lowered their price targets on Raffles Medical Group (RMG) to $1.49 from $1.72, and to $1.67 from $1.70 respectively after the group posted a marginal 1.7% decline in 1Q17 revenue yesterday on softer-than-expected demand from foreign patients, hence missing the expectations of both research houses.
(See also: Raffles Medical 1Q earnings stay flat at $15.5 mil)
While RHB has downgraded its rating on the counter from “buy” to “neutral” as a result, Maybank reiterates its “buy” call for the long-term potential it sees in the group’s business expansion into China, which it estimates to turn profitable by its second full year of operation in 2020.
“On the bright side, both Shanghai and Chongqing Hospitals could lift growth in the mid- to long-term,” says Maybank analyst John Cheong in a Tuesday report.
Regardless, Cheong is cognisant that the slowdown in Singapore’s healthcare sector in addition to the start-up costs of both China hospitals are likely to drag on RMG’s earnings going forward. He estimates both hospitals to incur losses of $3.4 million in 2018 and $2.3 million in 2019, before reporting positive earnings of $2 million in 2020.
While RHB analyst Juliana Cai says she is also positive on the group’s medium-term outlook with regards to its China expansion, the research house’s FY17-19F earnings estimates have nonetheless been cut by 10-13% on the weaker healthcare outlook in Singapore.
RMG’s Chongqing hospital has not been factored into the numbers for RHB’s forecasts, given limited information provided by the group’s management, explains Cai.
“Based on the information available, our back-of-envelope DCF valuation suggests that the Chongqing hospital project could add an additional $1.10/share to our current TP on a bull case scenario. Even in a bear-case scenario, we believe this project to be accretive at $0.37/share,” she elaborates.
“Rental income from Raffles Holland Village would only contribute more significantly next quarter onwards… Management guided that the Raffles hospital extension would be completed by 4Q17. However, based on our channel checks, we think this is likely to be operational only next year. This may not be a bad thing, given the current weak demand from foreign patients,” adds Cai.
As at 9:56am, shares of RMG are trading flat at $1.42.
Dr Chan: China to Revamp Its Financial Industry
Chan Yan Chong - US Stocks are currently going through a period of quarterly results announcement, so different stocks are performing differently. However, when it comes to Hong Kong stocks, only a few companies release quarterly results. This lack of reference materials leads to a situation where the strong stocks get stronger.
Singapore O&G proposes splitting one existing share into two
Chai Hung Yin -
SINGAPORE O&G is proposing a split of every one existing ordinary share in the capital of the company into two, it said in a Singapore Exchange (SGX) filing on Tuesday.
Credit quality of Singapore firms largely unchanged over the past year: SCCB
Angela Tan -
THE credit quality of Singapore firms has remained largely unchanged over the past year, the Singapore Commercial Credit Bureau (SCCB) said on Tuesday.
Daily Markets Briefing: STI up 0.13%
Staff Reporter -
Expect some boost today.
The Straits Times Index (STI) ended 4.2 points or 0.13% higher to 3144.03 on Monday, taking the year-to-date performance to +9.14%.
The top active stocks were Singtel, which closed unchanged, DBS, which gained 1.23%, OCBC Bank, which gained 0.52%, Keppel Corp, which declined 0.76% and CapitaLand, with a closed unchanged.
Daily Briefing: Singapore leads fintech race against Hong Kong; Toa Payoh to see two public housing projects
Staff Reporter -
And check out these two guys who quit their banking jobs for hawker food.
Malaysia: Shares open higher on Tuesday
MALAYSIA share prices open higher on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 8.340 points to 1765.080.
Asia stocks, euro steady as markets pause for breath after French election
Today - SINGAPORE - Asian equities were steady on Tuesday and the euro retained gains as markets' euphoria over a centrist victory in the first round of the French presidential election subsided, though near-term investor sentiment remains positive.
Singapore shares open marginally up on Tuesday
Chai Hung Yin -
SINGAPORE shares opened higher on Tuesday with the benchmark Straits Times Index up 1.66 points, or 0.05 per cent, to 3,145.69 at 9.03 am.
Stocks to watch: Parkway Life Reit, Cambridge Industrial Trust, CapitaLand
Chai Hung Yin -
THESE stocks had announcements which may influence trading on Tuesday.
China's environment ministry finds patchy progress on water and soil pollution
[BEIJING] Efforts to tackle water pollution in China remain uneven with some areas worsening in 2016, while heavy metals and other pollutants continued to accumulate in Chinese soil, the Ministry of Environmental Protection (MEP) said.
SK Hynix reports record quarterly revenue, profit on strong chip demand
[SEOUL] South Korea's SK Hynix Inc said its first-quarter operating profit more than quadrupled from a year earlier on strong demand for memory chips, pushing it to a record-high quarterly profit and beating already high market expectations.
T-Mobile's outlook for subscriber growth brightens
[NEW YORK] T-Mobile US Inc will gain more subscribers than expected this year amid intensified competition from Verizon Communications Inc and AT&T Inc, even if it means taking a hit on profit.
Parkway Life, Frasers Centrepoint, CapitaLand, Cambridge Industrial, Mapletree Industrial, HPHT, Singapore Medical, Neratel
PC Lee - SINGAPORE (April 25): Here are some stocks to watch this Tuesday morning:
Parkway Life REIT’s (PLife REIT) manager today posted a distribution per unit (DPU) of 3.28 cents for the first quarter ended March 31, up 9.6% from the 2.99 cents declared a year ago. Units of PLife REIT closed flat at $2.53 on Monday.
See: Parkway Life REIT sees 9.6% rise in 1Q DPU to 3.3 cents
The manager of Frasers Centrepoint Trust (FCT) has declared a 2Q17 distribution per unit (DPU) of 3.04 cents, unchanged from a year ago. Gross revenue for the quarter declined 2.9% on-year to $45.7 million $47.1 million in the previous year. Units of FCT closed 4 cents higher at $2.12 on Monday.
See: Frasers Centrepoint Trust reports flat 2Q DPU of 3.04 cents
CapitaLand today announced several key executive appointments from May 1that will support the next phase of leadership and business excellence in the group. Ronald Tay will be appointed the Chief Executive Officer of CapitaLand Singapore and a key management personnel of CapitaLand Group. Shares of CapitaLand closed at $3.62.
See: CapitaLand announces key executive appointments
The manager of Cambridge Industrial Trust (CIT) has declared a 1Q17 distribution per unit (DPU) of 1.004 cent, a 9.7% decrease from 1.112 cent in the previous year. Units of CIT closed flat at 58 cents on Monday.
See: Cambridge Industrial Trust’s 1Q DPU falls 9.7% to 1 cent
The manager of Mapletree Industrial Trust (MIT) has announced a 2.5% y-o-y rise in 4Q distribution per unit (DPU) to 2.88 cents. This brings DPU for FY16/17 to 11.39 cents, 2.2% higher than the previous year’s DPU of 11.15 cents. Units of MIT closed 0.3% lower at $1.80 on Monday.
See: Mapletree Industrial Trust’s FY16/17 DPU rises 2.2% to 11.39 cents
Hutchison Port Holdings Trust (HPHT) saw its earnings for the first quarter ended March 31 fall 69.9% to HK$166.9 million ($29.9 million) from HK$554.9 million in the previous year. Units of HPHT closed 1.23% higher at 41 US cents on Monday.
See: Hutchison Port Holdings Trust’s 1Q earnings per unit falls 70% to 1.92 HK cents
Singapore Medical Group is undertaking a review of its current and future acquisitions strategies. Shares of SMG closed 1 cent lower at 60 cents.
See: Singapore Medical Group undertaking review of acquisitions strategies
Nera Telecommunciations (Neratel) has received contracts of approximately $7.15 million in aggregate in relation to the supply, delivery, installation and maintenance of security application equipment to a telecom operator in the Philippines. Shares of Neratel closed 1 cent lower at 39 cents.
See: Neratel announces new contract wins worth $7.15 mil
US stocks rallied on Monday, tracking a relief rally that swept through Asian and European markets, after centrist candidate and market favorite Emmanuel Macron won the first round of the French presidential election. The Dow Jones Industrial Average rose 216.13 points, or 1.05%, to 20,763.89, the S&P 500 gained 25.46 points, or 1.08%, to 2,374.15 and the Nasdaq Composite added 73.30 points, or 1.24%, to 5,983.82.
The Straits Times Index closed with a net gain of just 4.2 points at 3,144.03. Turnover amounted to 3.3 billion units worth $1.1 billion and excluding warrants there were 220 rises versus 247 falls.
Cambridge Industrial Trust Q1 DPU down 9.7%
Chai Hung Yin -
CAMBRIDGE Industrial Trust's distribution per unit slipped 9.7 per cent to 1.004 Singapore cents in the first quarter of 2017, the manager of the trust said in a Singapore Exchange filing on Tuesday.
Tokyo: Shares open flat
[TOKYO] Tokyo shares opened flat Tuesday with investors wary of North Korea as it marks a key military anniversary, after global stocks rallied on the back of the first round of the French election.