New York: 06:56 || London: 11:56 || Mumbai: 15:26 || Singapore: 17:56

Reports » Singapore

Singapore stock market and companies daily report (GLP, AIMSAMPI Reit, Rex Int’l Hldg) (February 17, 2014)

February 17, 2014, Monday, 09:27 GMT | 04:27 EST | 13:57 IST | 16:27 SGT
Contributed by Shares Investment


- Global Logistic Properties’ 3Q14 revenue remained flat, mainly due to the spinning of properties in Japan to GLP J-REIT coupled with the weakening of Japanese Yen against the US Dollar. Despite the lacklustre revenue performance, the company was able to recognise a 56.3 percent increase in earnings to US$176.2 million. For the nine months, revenue declined 13.4 percent to US$447.9 million, while earnings soared 14.1 percent to US$525.2 million.

- Aims Amp Capital Industrial Real Estate Investment Trust proposed a 7 for 40 rights issue to all eligible unitholders of the trust. Gross proceeds of $100 million is expected to be raised from the rights issue and these proceeds will be used to finance the Trust’s asset enhancement initiatives, development projects, third party acquisitions in Singapore, and an unannounced portion will be used to pay down debt, working capital purposes and equity issuance costs.

- Artivision Technologies’s 3Q14 revenue rose 167.9 percent to $0.4 million, as a result of higher contribution from a newly acquired subsidiary, Colibri Assembly (Thailand). Despite better revenue performance, company’s loss grew 7.2 percent quarter-on-quarter to $1.2 million, in the face of higher expenses. For the nine months, revenue and losses increased 87.2 percent and 15.5 percent to $0.4 million and $4.2 million respectively.

- Hankore Environment Tech Group posted a more than two-fold increase in revenue to Rmb197.9 million for the quarter ended 31 December 2013, as a result of higher contributions from its construction and contract segments. Subsequently, earnings in 2Q14 soared 19.7 percent to Rmb29.4 million. For the six months, revenue soared more than 1-fold to Rmb332 million and earnings jumped 62.5 percent to Rmb59.8 million.

- Renewable Energy Asia saw a 21.5 percent reduction in revenue to Rmb60 million for the quarter ended 31 December 2013, mainly due to lower business activity in the manufacturing segment arising from softer demand for steel structures. In tandem with the recognition of gross loss and higher administration expenses, losses in 3Q14 expanded 12.4 percent to Rmb18.3 million. For the nine months, revenue declined 30.9 percent to Rmb170.3 million, while the company sank deeper into the red.

- Rex International Holding subscribed for NOK24 million (approximately US$3.8 million) worth of North Energy shares at NOK4 per share, under a NOK285 million private placement by North Energy. Upon completion, Rex will hold 6 million North Energy shares, representing approximately 5.35 percent interest in the enlarged issued and paid-up share capital of North Energy. The move is a vote of confidence on the potential of North Energy’s exploration assets which are profiled by Rex’s proprietary Virtual Drilling technology.