Del Monte Pacific swings to fiscal 2Q net loss
Del Monte Pacific said Friday it swung to a fiscal second quarter net loss of US$37.35M, from a year-ago net profit of US$8.43M, due to one-off expenses.
Philippines
Yoma completes first tranche of placement shares to Ayala Corp.
Yoma Strategic said Monday it has completed the placement of 332.5 million new shares to an indirect wholly owned subsidiary of Ayala Corp.
Why giving the poor smartphones doesn’t boost their access to banking
Smartphones may be hailed as the game-changer in efforts to bring more people into the formal banking system, but it’s not living up to the hype.
UPDATE: Ayala Corp to take 20 percent stake in Yoma Strategic and First Myanmar Investment
Ayala Corp. will invest up to US$237.5M to take an up to 20% stake in each of Yoma Strategic and its affiliate, First Myanmar Investment (FMI), Yoma said Thursday.
GIC, KKR to invest US$680 million in Metro Pacific Hospitals via shares and bonds
Singapore state-owned investment company GIC and KKR have entered a deal to invest as much as US$680M in Metro Pacific Hospitals, the parties said Tuesday.
Yoma to enter JV with AC Energy for Myanmar renewable energy projects
Yoma Strategic has entered a tie-up with AC Energy to develop renewable energy projects in Myanmar via Yoma Micro Power (S), the two companies Monday.
Keppel Philippines Properties enters deal to sell Buena Homes (Sandoval) stake
Keppel Philippines Properties said Friday it sold its stake in Buena Homes (Sandoval), or BHSI, to Jetson Realty & Dev. Corp. (JRDC).
iflix shifts to using Google Open Bidding service for advertising
Southeast Asian streaming service iflix said Tuesday it switched to Google’s Open Bidding service for advertising in Malaysia, Indonesia and the Philippines.
Singapore stocks to watch Wednesday: Olam, Keppel, Starhill Global REIT, Isetan, Accordia Golf
These are Singapore companies which may be in focus on Wednesday, 11 September 2019: Olam, Starhill Global REIT, Isetan Singapore, Keppel and Accordia Golf.
Del Monte Pacific reports fiscal 1Q net loss on US plant closures
Del Monte Pacific reported Friday a fiscal 1Q net loss of US$38.26 million on one-off items related to closing plants in the U.S.
Frasers Property sells Frasers Place Manila for S$45 million
Frasers Property said Friday it sold Frasers Hospitality Investment Holding (Philippines) to Bond Capital Partners for around S$45.3 million.
Del Monte Pacific to shutter, divest some US facilities in restructuring
Del Monte Pacific said Tuesday it plans to shutter and divest some production facilities of its U.S. subsidiary, Del Monte Foods.
Del Monte Pacific reports fiscal 4Q net profit jumped 59 percent
Del Monte Pacific reported Thursday its fiscal 4Q net profit jumped 59.2% on-year to US$6.30M amid lower capital expenditure and higher gross margins.
TEE International plans to spin off infrastructure business in Catalist listing
TEE International said Monday it plans to spin off its infrastructure business into a listing on SGX’s Catalist board for smaller enterprises.
UPDATE: Del Monte Pacific swings to fiscal 3Q net profit despite lower sales
Del Monte Pacific reported Friday it swung to a fiscal 3Q net profit of US$2.58M, from a year-ago net loss, despite lower sales, as expenses fell.
Singapore stocks to watch Friday: Singtel, Jardine C&C, Halcyon Agri, Mermaid Maritime
These are Singapore stocks which may be in focus on Friday, 8 March 2019: Singtel, Jardine Cycle & Carriage, Halcyon Agri and Mermaid Maritime.
Jollibee Foods downgraded by Daiwa after recent share price rally
Daiwa downgraded Jollibee Foods to Outperform from Buy after the recent rally in the share price, but raised its target price to 330 Philippine pesos…
Nomura: Upgrades Philippines shares, downgrades Malaysia in Southeast Asia outlook
Southeast Asian shares are expected to have a better year after a tough 2018, Nomura said, but said it preferred domestic demand stories and was…
UPDATE: Singapore stocks to watch Thursday: OUE Lippo Healthcare, China Environment, Jumbo, AHT
These are Singapore stocks which may be in focus on Thursday 13 December 2018: OUE Lippo Healthcare OUE Lippo Healthcare said on Wednesday that it…
UPDATE: Del Monte Pacific reports fiscal 2Q net profit, swinging from year-earlier loss
Del Monte Pacific reported on Thursday a fiscal second quarter net profit of US$8.42 million, swinging from a net loss of US$2.82 million in the…
Morgan Stanley tips better year for Southeast Asia stocks, but cuts Malaysia to Underweight
Morgan Stanley said it expected a better year ahead for Southeast Asia’s equity markets, but that didn’t stop it from downgrading Malaysia to Underweight. “We…
Nomura: Investor sentiment on Southeast Asia ‘quite downbeat’
Both international and domestic investors in Southeast Asia’s equities are “quite downbeat” on the region’s prospects, Nomura said in a recent note. That was after…
Jollibee Foods started at Buy by Daiwa as a market leader with fast growth
Daiwa started Jollibee Foods at Buy with 252.00 Philippine peso target price, as the dominant market leader in the Philippines’ fast-food sector. “We believe that…
SIA Engineering downgraded by Daiwa after setback in Philippine operations
Daiwa downgraded SIA Engineering to Hold from Outperform as media reports indicate Tigerair Australia may end all maintenance work at its facility in the Philippines….
Singapore stocks to watch Thursday: Venture, CCT, DBS, Del Monte Pacific, Aspial, Synagie
These are the Singapore stocks which may be in focus on Thursday 13 September 2018: Venture Corp. Venture Corp. may be in focus after reports…
Del Monte Pacific reports fiscal 1Q19 net profit surged four times due to one-off gain
Del Monte Pacific reported on Wednesday that its fiscal first quarter net profit surged 308.4 percent on-year to US$3.02 million due to one-off items despite…
Goldman Sachs cuts outlook for Asia stocks, but still calls them ‘attractive’
Goldman Sachs cuts its outlook for Asian equities, but it added that they remain “attractive” despite headwinds from escalating U.S.-China trade frictions. It lowered its…
Singapore stocks to watch Wednesday: Hi-P, ST Engineering, SATS, Yangzijiang, Hyflux
These are the Singapore stocks likely in focus on Wednesday, 20 June 2018: Hi-P International Hi-P International said it bought back 300,000 shares in the…
UBS upgrades Singapore equity market to Overweight
UBS upgraded Singapore’s equity market to Overweight in its regional asset allocation. “Singapore’s equity market is riding on the tailwinds of strong corporate earnings, higher dividends…
Asian currencies on the defensive as region’s export growth moderates, UOB says
Asian currencies should be on the defensive ahead as Asian export growth moderates and as China’s economic growth may slow in the second half of…
Nomura upgrades Indonesia, cuts Malaysia in Southeast Asian portfolio
Nomura upgraded Indonesia to Overweight from Underweight in its Southeast Asian equity allocations, funded by cutting Malaysia to Neutral from Overweight. On a three-to-six-month view,…
Why Duterte’s threat to ban Kuwait worker deployment may boost Philippine peso
Philippine President Duterte has threatened to make a ban on deploying overseas workers to Kuwait permanent, in a move that could spur a short-term boost…
Singapore Pre-Market Monday: DBS, Sheng Siong, Noble, SIA Engineering
Singapore’s stocks were headed to the open on Monday with a lackluster lead, with Wall Street essentially flat on Friday. But DBS’ higher-than-expected earnings were…
Goldman Sachs sticks with Overweight view on Asia markets
Despite a volatile first quarter, Goldman Sachs said it was sticking with a positive view of Asian markets. “Asian fundamentals are solid as macro and…
Societe Generale: Bullish sentiment on emerging markets is eroding
The bullish sentiment on emerging markets is eroding, Societe Generale said after recent client visits in Europe and Hong Kong. “Investors are, on balance, still…