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Reports » Singapore

Singapore stock market and companies daily report (Olam Int’l, IHH Healthcare, GuoccoLand) (August 29, 2014)

August 29, 2014, Friday, 05:16 GMT | 00:16 EST | 08:46 IST | 11:16 SGT
Contributed by Shares Investment

GuoccoLand’s turnover jumped 192.4 percent to $492.9 million for the fourth quarter ended 30 June 2014, stemmed from units sold for Goodwood Residence in Singapore and Seasons Park in Tianjin, China. Other income rose almost three times due to fair value gains from the firm’s investment properties. As a result, earnings grew 477.7 percent to $186.1 million. For the full year, revenue advanced 84.7 percent to $1.3 billion, while earnings jumped in excess of seven-fold to $304.2 million.

IHH Healthcare’s top line climbed 11 percent to RM1.9 billion for the second quarter ended 30 June 2014, underpinned by higher contributions from Parkway Pantai. Helped further by a 92.4 percent reduction in finance cost, earnings gained 33.4 percent to RM209.1 million. For the six-month period, revenue grew 9.6 percent to RM3.6 billion and earnings jumped 29.6 percent to $368.2 million.

IPS Securex Holdings bagged a contract worth $4.5 million for the installation, leasing and maintenance of Alert Alarm Systems (AAS) in several blocks of residential housing across Singapore. The installation of the AAS is expected to commence from September 2014, while the tenure for maintenance and leasing is for a period of seven years from the date of completion of installation. The latest contract win will lift the company’s order book to $24.6 million.

Olam International posted an 11.4 percent decline in revenue to $5.8 billion for the fourth quarter ended 30 June 2014. The decrease was largely attributed to weaker sales in food staples and packaged foods and industry raw materials. Along with losses registered from its jointly controlled entities and associates, earnings fell 43.9 percent to $31.8 million. For the full year, revenue dropped 6.6 percent to $19.4 billion, while earnings expanded 67.8 percent to $608.5 million.

Yoma Strategic Holdings proposed the acquisition of a 70 percent interest in a piece of land located in Yangon, Myanmar, and a 20 percent interest in YSH Finance. The land piece measures 20.3 acres and comes with a purchase price of US$5.6 million, which the company intends to develop into an international school. When the acquisition of YSH Finance is completed, YSH Finance will be a wholly-owned subsidiary of Yoma.