In today’s briefing:
- SingPost (SPOST SP): What Next After FMH Sale?
- Rains Continue To Pummel SL Rubber, Percolate To Downstream Too
- Lucror Analytics – Morning Views Asia
SingPost (SPOST SP): What Next After FMH Sale?
- Singapore Post (SPOST SP) is selling its key asset, Australian-based Freight Management Holdings (FMH), for an enterprise value of S$897.6mn, which will generate a gain on disposal of S$312.1mn.
- SingPost will apply the proceeds to paring down its Aussie dollar-denominated debt. SingPost will also consider, in due course, the payment of a special dividend.
- Once the FMH transaction completes, the board will “review and reset the Group’s strategic plan, with a continued focus on shareholder value“.
Rains Continue To Pummel SL Rubber, Percolate To Downstream Too
- Squeezed supply owing to rains lifts prices in domestic market
- Exports down 23.4% MoM at US$79.5 million in Sept
- Michelin seeks proactive policies to up rubber production
Lucror Analytics – Morning Views Asia
- In today’s Morning Views publication we comment on developments of the following high yield issuers: Continuum Green, Sunny Optical
- Wall Street has been expressing confusion over the Fed’s potential decision (according to minutes of the November meeting) to lower the rate on its overnight reverse repo facility (RRP) by 5 bps, possibly as early as next week.
- This adjustment comes alongside expectations of a quarter-point cut in the Fed’s main policy benchmark.
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