reports
EQS-News: Uber Eats to acquire Delivery Hero’s foodpanda delivery busi...
EQS-News: Delivery Hero SE / Key word(s): Mergers & Acquisitions/Disposal Uber Eats to acquire Delivery Hero’s foodpanda delivery business in Taiwan 14.05.2024 / 05:02 CET/CEST The issuer is solely responsible for the content of this announcement. Uber Eats to acquire Delivery Hero’s foodpanda delivery business in Taiwan Acquisition brings together the companies’ complementary merchant, delivery partner, and consumer bases into a single app, creating significant value Deal is one of the largest-ever international acquisitions in Taiwan, highlighting its attractiveness f...
EQS-News: Uber erwirbt Delivery Heros foodpanda-Liefergeschäft in Taiw...
EQS-News: Delivery Hero SE / Schlagwort(e): Fusionen & Übernahmen/Verkauf Uber erwirbt Delivery Heros foodpanda-Liefergeschäft in Taiwan 14.05.2024 / 05:02 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Uber erwirbt Delivery Heros foodpanda-Liefergeschäft in Taiwan Die Übernahme führt die sich ergänzenden Händler-, Lieferpartner- und Kundenstämme der Unternehmen in einer einzigen App zusammen und schafft so einen erheblichen Mehrwert Die Transaktion ist eine der größten internationalen Übernahmen in Taiwan und unterstreicht die Att...
MKS Instruments Announces Pricing of Upsized Private Offering of $1.2 ...
MKS Instruments Announces Pricing of Upsized Private Offering of $1.2 Billion of 1.25% Convertible Senior Notes ANDOVER, Mass., May 13, 2024 (GLOBE NEWSWIRE) -- MKS Instruments, Inc. (NASDAQ: MKSI) (“MKS”) today announced the pricing of its offering of $1.2 billion aggregate principal amount of 1.25% convertible senior notes due 2030 (the “notes”). The notes will be offered and sold in a private placement (the “offering”) to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). MKS als...
Murata’s New LCT Redefines Power Supply Noise Suppression, Reducing Co...
KYOTO, Japan--(BUSINESS WIRE)-- Murata Manufacturing Co., Ltd. (TOKYO: 6981) (ISIN: JP3914400001) unveils a significant advancement in the realm of electronic components with the launch of its innovative L Cancel Transformer (LCT). This remarkable product is the first of its kind and can neutralize the equivalent series inductance (ESL) of a capacitor, optimizing its noise-reducing capabilities. Utilizing Murata’s exclusive ceramic multilayer technology, this breakthrough solution allows engineers to reduce system noise while decreasing costs and component count. This press release features m...
Moody's Ratings assigns a provisional rating to one class of FHMS WI-K...
Moody's Ratings (Moody's) has assigned a provisional rating to one class of securities (the "WI Class"), to be issued by FHMS WI-K164 Trust (the "WI Trust"): Cl. A-2, Assigned (P)Aaa * The provisional rating announced today will be subject to monitoring, and Moody's expects to take a credit rati...
- Damon Shen
- Jieqi Liu
China and Hong Kong Property Strategy: More patience needed for China’...
Hangzhou and Xi’an removed all HPRs last week. However, with a very low possibility of T1 cities following suit, we believe market focus will continue to be on the destocking policy. Trials by Nanjing and Zhengzhou are progressing slowly, pointing to the complexity of the situation. More patience is needed. For Hong Kong property, while the cautious attitude of banks towards mortgages may weigh on a sales recovery, further policy support for tourism remains a key focus. Maintain MARKET WEIGHT on...
00016 SUN HUNG KAI PROPERTIES LIMITED
00823 LINK REAL ESTATE INVESTMENT TRUST
01109 CHINA RESOURCES LAND LIMITED
SCNR SUNAC CHINA HOLDINGS LTD.
RLF LONGFOR GROUP HOLDINGS LTD.
00014 HYSAN DEVELOPMENT CO. LTD.
01997 WHARF REAL ESTATE INVESTMENT CO. LTD.
00017 NEW WORLD DEVELOPMENT CO. LTD.
- Leonard Law
Lucror Analytics - Morning Views Asia
Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar. To request full and unrestricted access to Lucror’s research and analytics platform, please visit
Belite Bio Reports First-Quarter 2024 Financial Results and Provides C...
Belite Bio Reports First-Quarter 2024 Financial Results and Provides Corporate Update Tinlarebant is Belite Bio’s orally administered tablet intended to slow disease progression in patients affected with Stargardt Disease (STGD1) and Geographic Atrophy (GA) in advanced Dry Age-related Macular Degeneration (Dry AMD) Data from a 24-month Phase 2 trial in adolescent STGD1 subjects showed a sustained lower atrophic lesion growth in Tinlarebant-treated subjects compared to ProgStar participants possessing similar baseline characteristics (aged ≤18 years) (p
- Damon Shen
- Greater China Research Team
- Jieqi Liu
Greater China Daily: Tuesday, May 14, 2024
KEY HIGHLIGHTS Strategy China and Hong Kong Property Hangzhou and Xi’an removed all HPRs last week. However, with a very low possibility of T1 cities following suit, we believe market focus will continue to be on the destocking policy. Trials by Nanjing and Zhengzhou are progressing slowly, pointing to the complexity of the situation. More patience is needed. For Hong Kong property, while the cautious attitude of banks towards mortgages may weigh on a sales recovery, further policy support f...
- Adrian Loh Tzum Yung
- Benjaphol Suthwanish
- Damon Shen
- Jack Lai Yuan Khai
- Jieqi Liu
- John Cheong Ming Chern
- Kampon Akaravarinchai
- Kasemsun Koonnara
- Kong Ho Meng
- Posmarito Pakpahan
- Roy Chen Chengzhi
- Tanaporn Visaruthaphong
Regional Morning Notes - Tuesday, May 14, 2024
GREATER CHINA Strategy China and Hong Kong Property: More patience needed for China’s destocking policy; Hong Kong retail landlords facing both challenges and opportunities. INDONESIA Sector Banking: 1Q24 results wrap-up: NIM revision due to higher CoF. MALAYSIA Results Carlsberg Brewery Malaysia (CAB MK/BUY/RM19.44/Target: RM25.10): 1Q24: Within expectations. While earnings were seasonally strong, Singapore was affected by the loss of Asahi. Maintain BUY with a higher target price of RM25.10....
S63 SINGAPORE TECHNOLOGIES ENGINEERING LTD
T13 RH PETROGAS
558 UMS HOLDINGS LIMITED
PTTGC PTT GLOBAL CHEMICAL PUBLIC COMPANY LTD
TCAP THANACHART CAPITAL PCL
SIE SIA ENGINEERING CO LTD
DLG DIALOG GROUP BHD
CAB CARLSBERG BREWERY MALAYSIA B
CPN-R CENTRAL PATTANA PCL NVDR
- Adrian Loh Tzum Yung
- John Cheong Ming Chern
- Roy Chen Chengzhi
Singapore Daily - Tuesday, May 14, 2024
KEY HIGHLIGHTS Results RH Petrogas (RHP SP/BUY/S$0.164/Target: S$0.242): 1Q24: Better-than-expected results due to higher production and oil prices, helped by good cost control. Looking forward to two exploration wells in 2H24. SIA Engineering (SIE SP/BUY/S$2.33/Target: S$2.70): FY24: Core net profit in line; expect further earnings recovery in FY25. Maintain BUY. Singapore Technologies Engineering (STE SP/BUY/S$4.03/Target: S$4.50): 1Q24: Strong 1Q24 revenue performance bodes well for the fu...
- John Cheong Ming Chern
UMS Holdings (UMSH SP) - 1Q24: Earnings Miss Expectations; Expect Near...
1Q24 earnings of S$10m (-44% yoy) were below expectations, meeting only 14% of our full-year estimate. Revenue fell 33% yoy due to softness in the semiconductor integrated systems and components businesses. UMS sees a brighter outlook as its existing and new customers have given upbeat guidance for the coming months. We cut our 2024 and 2025 EPS forecasts by 38-39% due to the earnings miss. Downgrade to SELL with a 46% lower target price of S$0.95, based on 15x 2024 EPS.
- Roy Chen Chengzhi
SIA Engineering (SIE SP) - FY24: Core Net Profit In Line; Expect Furth...
SIAEC’s FY24 core net profit of S$121m (+135% yoy) was spot on against our forecast. We expect SIAEC’s earnings to move close towards a full recovery in the upcoming year (FY25), driven by a further increase in business volume, although cost pressure could still be a near-term drag on margins. SIAEC’s valuation is palatable, trading at 17.0x/15.1x FY25/26F PE (or 12.7x/11.4x if excluding net cash) and offering 5.2%/5.4% dividend yields by our estimates. Maintain BUY. Target: S$2.70.
- Roy Chen Chengzhi
Singapore Technologies Engineering (STE SP) - 1Q24: Strong 1Q24 Revenu...
STE’s 1Q24 revenue of S$2.70b is in line, accounting for 24.6% of our full-year projection. Group revenue rose 18% yoy, driven by strong revenue growth in CA (+32%, backed by strong demand) and DPS (+14%). USS posted yoy marginally lower revenue due to project timing. A strong orderbook of S$27.7b as of end-1Q24 provides good revenue visibility in the medium term. Maintain BUY on STE for its strong organic core earnings growth (2024-26 CAGR: 10.2%). Target price: S$4.50.
- Adrian Loh Tzum Yung
RH Petrogas (RHP SP) - 1Q24: A Lot To Like – Higher Oil Production And...
RHP reported a strong set of 1Q24 results that were above expectations. Net profit rose 18% yoy on the back of slightly higher oil production, better realised oil prices and very commendable cost control. Planning for the company’s two exploration wells for 2H24 remains on track. We highlight RHP’s inexpensive 2024E PE and EV/EBTIDA of 6.3x and 2.5x respectively. Maintain BUY. Target price: S$0.242.
Moody's Ratings revises outlook on 412 US local government issuers fro...
Moody's Ratings (Moody's) has revised the outlook on 412 US local government issuers from stable to no outlook (NOO). The issuer and long-term underlying debt instrument ratings have been affirmed. RATINGS RATIONALE Please click on this link /viewresearchdoc.aspx?docid=PBM_P...
Timbercreek Financial announces Voting Results from Annual Meeting of ...
Timbercreek Financial announces Voting Results from Annual Meeting of Shareholders TORONTO, May 13, 2024 (GLOBE NEWSWIRE) -- Timbercreek Financial Corp. (the "Company") (TSX:TF) announced the voting results for the election of its board of directors, which took place at the Company’s annual meeting of shareholders held on May 13, 2024 (the “Annual Meeting”). The Annual Meeting was originally scheduled to be held on May 8, 2024 but was adjourned to May 13, 2024 due to a lack of quorum. The nominees listed in the management information circular dated March 15, 2024 were elected as directors...
Moody's Ratings affirms KIPP Indianapolis, Inc. Project, IN's Ba1 reve...
Moody's Ratings (Moody's) has affirmed the Ba1 revenue bond rating on the Educational Facilities Multipurpose Revenue Bonds, Series 2020A and Series 2020B of KIPP Indianapolis, Inc. Project, IN. KIPP Indianapolis has $11 million in debt outstanding, which consists entirely of the Series 2020 bonds. ...
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