Reports » Singapore

Singapore stock market and companies daily report (Biosensors, Raffles Education) (February 09, 2012)

Singapore¡¯s tourism industry delivered a stellar performance last year, registering significant growth in both visitor arrivals and tourism receipts, said Singapore Tourism Board (STB) in a statement. Tourism industry revenue jumped 17 percent to a record $22.2 billion ¨C meeting STB¡¯s target of $22 billion-24 billion. Biosensors International Group¡¯s 9M12 earnings jumped more than 13-fold to US$337 million in tandem with a 82 percent jump in revenue to US$204 million, attributable to full quarter consolidation of the results of JW Medical Systems from 3Q12, higher product revenue & licensing revenue as well as gain from the remeasurement of interest in the joint venture company.

Singapore stock market and companies daily report (SATS, OSIM, Tiger Airways) (February 08, 2012)

SATS reported a net profit of $120.8 million, 14.1% lower than a year ago even as revenue rose 31% to $1.25 billion. SATS was a beneficiary of the growth in flights and cargo handled at Changi Airport in addition to higher revenue contribution from SATS HK. OSIM International, the well-being and healthy lifestyle products group recorded an 8.8% increase in FY11 revenue over FY10 to $553.7 million. Net profit surged 37.9% to hit a record of $69 million. The broad based growth for FY11 was supported by increased sales and better margins from increased productivity per outlet and per employee.

Singapore stock market and companies daily report (Eu Yan Sang, Noble Group, Sembcorp) (February 07, 2012)

Eu Yan Sang International’s (EYS) earnings sank into the red for the second quarter ended December 2011, recording a loss of $2.8 million compared to a gain of $4.1 million in 2Q11. Noble Group has appointed Yusuf Alireza – the former co-president of Asia, excluding Japan, for Goldman Sachs – as chief executive officer (CEO). Sembcorp Marine has won a US$792.5 million contract from Sete Brasil, marking its first drillship construction for Brazil.

Singapore stock market and companies daily report (Artivision, Swiber Holdings, Sembcorp Marine) (February 06, 2012)

Artivision Technology (Artivision) has signed a memorandum of understanding (MOU) with Intel Corp to incorporate its front-end in-video advertisement serving technology into Intel’s Software Development Kit (SDK). The MOU is expected to last 4 months, of which, the first working SDK with Artivision’s front-end and back-end technology will be deployed on a demo mobile device. Swiber Holdings (Swiber), an integrated construction and support services provider to the offshore industry announced that it has been awarded contracts worth US$216 million ($269 million) for offshore construction projects and vessel chartering services in Southeast Asia and South Asia.

Singapore stock market and companies daily report (Singapore Airlines, StarHub, GLP) (February 03, 2012)

Persistently high jet fuel prices have eaten into Singapore Airlines’ (SIA) 3Q12 profit as the national carrier registered a 53% slump in earnings figures. StarHub recorded steady growth in most of its business segments as earnings for FY11 grew to $315.5m, up 19.9% from FY10. Global Logistics Properties (GLP) plans to commence developing a 79,023 square metre facility in Okayama, Japan in June this year.

Singapore stock market and companies daily report (STATS ChipPAC, Mercator Lines) (February 02, 2012)

The latest Purchasing Managers’ Index released by the Singapore Institute of Purchasing & Materials Management (SIPMM) on 1 Febuary, pointed to a rosier picture for the local electronics sector. STATS ChipPAC plunged into the red as it suffered from a fall in gross margins as well as impairment losses arising from the Thai Floods last year. Mercator Lines (Singapore) (Mercator) registered a 77% slide in net profit for 3Q12 to US$1.17 million ($1.46 million).

Singapore stock market and companies daily report (SMRT, CDLHT) (February 01, 2012)

Singapore’s unemployment rate encouragingly fell to a 14-year low in 2011. Preliminary estimates show that total employment grew by 36,300 in 4Q11, bringing growth in the whole of 2011 to 121,300. This was higher than the gains of 115,000 in 2010. SMRT Corporation (SMRT)’s 3Q12 earnings fell 13.9% to $37 million despite a 10% jump in revenue to $268.2 million, mainly due to a 14.8% jump in repairs and maintenance costs as well as a 30.6% increase in electricity and diesel costs.

Singapore stock market and companies daily report (Olam International, Cerebos Pacific, Tiger Airways) (January 31, 2012)

Olam International (Olam) intends to acquire a 75% stake in Rusmolco, a Russian dairy farm player for US$75 million ($94.2 million). Rusmolco comprises nine livestock farms in seven areas of the Penza region in Russia, specializing in dairy husbandry and crop production. Cerebos Pacific (Cerebos) announced FY11 net profit of $100.1 million on a turnover of $977 million. Tiger Airways (Tiger) recorded a loss of $17.4 million for 3Q12, compared to a $22.5 million profit for 3Q11.

Singapore stock market and companies daily report (ST Aerospace, PLife REIT, CRCT) (January 30, 2012)

Singapore Technologies Aerospace, the aerospace subsidiary of Singapore Technologies Engineering (ST Engg), ended 2011 on a high note, winning a total of $350 million worth of contracts in the final quarter. ST Engg said that the contracts will be carried out at its network of facilities in the Americas, Asia Pacific and Europe. ParkwayLife Real Estate Investment Trust (PLife REIT), one of Asia’s largest listed healthcare REITs by asset size registered a 9.2% increase to $58.1 million for its FY11 distributable income ended 31 December-11. Accordingly, distributable income per unit (DPU) grew from $0.0879 in FY10 to $0.096 in FY11. 

Singapore stock market and companies daily report (United Fiber System, Berlian Laju) (January 27, 2012)

Industrial production soared 12.6% in December over last year – close to double that of market consensus of 6.4%. United Fiber System (UFS) had entered into a heads of agreement with FT Dian Swastika Sentosa for the purchase of an approximately 67% stake of PT Golden Energy Mines (GEMS). Indonesia’s largest oil and gas shipping company, PT Berlian Laju Tanker said that it will stop servicing its debt in a move that will affect US$418m ($526.3m).

Singapore stock market and companies daily report (CAC, Jaya Holdings) (January 26, 2012)

According to the Department of Statistics, Singapore’s Consumer Price Index (CPI) edged up 5.5% on a year-on-year (y-o-y) basis in December. China Auto Corporation’s (CAC) unit has won a multi-million dollar contract from a wholly-owned subsidiary of Neptune Orient Lines (NOL). Shares of Jaya Holdings was buoyed by buyout speculation and closed up at $0.55 yesterday, representing a 13.4% jump against the $0.485 closing on 20 January.

Singapore stock market and companies daily report ( ) (January 25, 2012)

Boustead Singapore (Boustead) has made a critical first step in the resources sector through the purchase of an 8.6% in Sydney-listed manganese producer, OM Holdings (OMH). A joint venture (JV) between Singapore Press Holdings (SPH) and United Engineers (UE) has been awarded the tender for a commercial site in Sengkang West by the HDB. CapitaCommercial Trust (CCT) has registered drops in its 4Q11 and FY11 distribution per unit (DPU) figures.

Singapore stock market and companies daily report (Keppel Land, MLT, Ascott) (January 20, 2012)

Keppel Land filed its full year ended 31 December 2011 report on 20 January showcasing an almost 30% jump in net profits to $1.37 billion. This was lifted mainly by a $508.1 million gain from the sale of the firm’s 87.5% stake in Ocean Properties to K-Reit Asia and a $549.8 million fair value gain on investment properties. Mapletree Logistics Trust (MLT) announced total amount distributable of over $41 million for 4Q11, representing a 12.2% improvement compared with 4Q10. However, distribution per unit (DPU) grew at a lower rate due to a large number of units from an equity fund-raising exercise back in 2Q10.

Singapore stock market and companies daily report (CMT, Delong, Keppel) (January 19, 2012)

CapitaMall Trust (CMT) is delivering a distribution per unit (DPU) of $0.023 for the fourth quarter ended 31 December, represents a 2.5% year-on-year dip. Gross revenue was 4.3% higher at $157.9 million while net property income (NPI) slid 2.6% to $98.8 million, leading distributable income to come in little changed at $75.5 million. Delong, a chinese steel manufacturer, has set eyes to acquire an 80%-stake in Laiyuan County Aoyu Steel for Rmb264 million ($53.6 million). Similarly based in China, the target is a maker of pig iron and steel billets, with an annual production capacity of 1.2 million tonnes.

Singapore stock market and companies daily report (NODX, OCBC, Noble Group) (January 18, 2012)

Singapore’s key non-oil domestic export (NODX) notched upwards by 9% as it continued to confound economists who had predicted a 1.2% drop. OCBC bank (OCBC) chief executive officer David Connor has announced on 17 January, that he will be retiring on 14 April after almost 10 years at its helm. Noble Group (Noble) has dismissed the idea that a lack of risk management as the cause of the surprise loss in its 3Q11 results.

Singapore stock market and companies daily report (M1, SGX) (January 17, 2012)

Weighed by the introduction of the additional buyer’s stamp duty (ABSD), private home sales in December plunged to the lowest level in two years. M1 has reported a marginal 0.4% increase in profit to $37.6 million for the fourth quarter ended 31 December. Singapore Exchange (SGX) reported an 11.8% fall in profit to $65.4 million for the second quarter ended 31 December, impacted by a 14% decline in revenue to $148.1 million.

Singapore stock market and companies daily report (S i2i, Hiap Seng) (January 16, 2012)

The Department of Statistics’s latest figures on retail sales registered a 0.6% month-on-month fall. Locally listed handset maker and Internet telephony company, S i2i, has launched two smart-feature phone models in a bid to cater to the masses for whom the latest iPhone or Blackberry is too expensive to. Hiap Seng Engineering (Hiap Seng), a specialist integrated engineering group for the oil and gas, petrochemical and pharmaceutical industries, announced on 13 January that its 87%-owned subsidiary, HS Compression & Process (HSCP), has entered into a strategic alliance agreement with COSCO (Shanghai) Shipyard.

Singapore stock market and companies daily report (CapitaLand Group, Sembcorp, Ezra) (January 13, 2012)

CapitaLand and its subsidiaries, CapitaMalls Asia (CMA) and CapitaMall Trust (CMT) commenced construction works at Westgate on 12 January, marking a milestone in the government’s attempt to transform the Jurong Lake District into a key regional business hub. Westgate, a shopping mall and office tower development will be a new icon in the Jurong Gateway. Sembcorp Industries (Sembcorp) hopes to grow its utilities presence in Vietnam with a deal to study the feasibility of developing a 1,200 megawatt power plant.

Singapore stock market and companies daily report (Qian Hu, China Titanium, Ascott Lands) (January 12, 2012)

Qian Hu Corporation (Qian Hu), an ornamental fish service provider, registered its 4Q11 net profit of $886,000, 40% higher than a year ago, largely aided by gains in the sale of its Guangzhou factory. The sale of the Guangzhou factory by Qian Hu’s subsidiary reaped about $952,000 in gains due to its negative net assets position. The independent directors (IDs) of China Titanium have stepped down in an announcement made late in the night of 11 January. CapitaLand’s serviced residence business unit, The Ascott (Ascott), has secured a new management contract for its first Citadines aparthotel in Surabaya, Indonesia.

Singapore stock market and companies daily report (SPH, CapitaLand, DTAC) (January 11, 2012)

Singapore Press Holdings​’ (SPH) profit edged down 4.7% to $97.5 million for the first quarter ended 30 November. CapitaLand has led a consortium, established with CapitaMall Asia and Singbridge Holdings, to seal a cooperation agreement with the Chongqing government. Total Access Communication (DTAC), Thailand’s second-largest mobile phone operator by subscribers, is set to invest THB40 billion ($1.62 billion) over the next three years.

Singapore stock market and companies daily report (Keppel, Ezra Holdings, KSH Holding) (January 10, 2011)

Keppel AmFELS, a subsidiary of Keppel Offshore & Marine and a wholly-owned company of Keppel Corporation​ (Keppel Corp), has secured a US$150 million ($195 million) contract to start the year off. Ezra Holdings (Ezra)’ subsea unit, EMAS AMC, has won two contracts from Statoil, worth about 450 million krone ($97 million). KSH Holdings has secured a $110.28 million condominium contract from Precious Sand, a joint venture company between a Far East Organisation company and a Frasers Centrepoint, for the construction of Seastrand- a condominium development in Pasir Ris.

Singapore stock market and companies daily report (Petrobras, Cosco Corporation, SGX) (January 09, 2011)

Singapore rig builders, Keppel Corp​ and Sembcorp Marine have taken in record number of orders for 2011 and are seen to add to those numbers this year. Cosco Corporation (Singapore) (Cosco) has appointed Ma Ze Hua as its new chairman as of 6 January as Liu Guo Yuan retired from the post he had held since September 2010. The Singapore Exchange (SGX) has resorted to applying for a court order to enforce its directive on a defiant S-chip company, China Sky Chemical Fibre (China Sky).

Singapore stock market and companies daily report (CDL, STATS ChipPac, CapitaMalls Asia) (January 06, 2012)

Local property group, City Developments (CDL), announced that it had secured a site in Chongqing for Rmb540 million ($110 million). The acquisition, the third in slightly more than a year, is part of the firm’s strategy in actively expanding in China. STATS ChipPac, a semiconductor test and packaging service provider said on 5 January that its new factory in Singapore will be operational by 4Q12. The new facility, next to its current factory in Yishun, will raise the company’s manufacturing space by 33%.

Singapore stock market and companies daily report (SGX, Lucrum Capita, Yoma) (January 05, 2012)

Trading activity on the Singapore Exchange (SGX) hit a trough as persistent issues such as the eurozone crisis and the global economy slowdown caused investors to shy away from risky assets. Data released by the SGX showed that total securities market turnover plunged 40% in December from a year ago to 15.1 billion shares, while the value of trades done during the month dropped 41% to $16.7 billion. Singapore-based private equity group Lucrum Capital (Lucrum) has agreed to boost the Big Box project by TT International (TTI) by injecting at least $200 million.

Singapore stock market and companies daily report (SMRT, Keppel Corp, CMA) (January 04, 2012)

SMRT has commissioned an internal investigation team to look into the train service disruptions on the North-South Line (NSL). On 15 and 17 December, train service of the NSL was interrupted for five and seven hours respectively, affecting more than 100,000 commuters. Keppel Corp (Keppel) is acquiring a 49.9%-stake in Norwegian offshore wind turbine foundation designer OWEC Tower (OWEC) for NOK61 million ($13.2 million). Under the terms of the deal, Keppel’s indirect wholly-owned subsidiary KV Ventus will subscribe to 812,591 new OWEC shares for about NOK37.3 million as well as acquire 519,511 shares from existing shareholders for NOK23.9 million.

Singapore stock market and companies daily report (MTI, Mewah) (January 03, 2012)

According to the advance gross domestic product (GDP) estimates released by the Ministry of Trade and Industry (MTI), Singapore’s economy experienced a slowing pace of growth in the fourth quarter of 2011. On a year-on-year (y-o-y) basis, GDP expanded by 3.6% compared to the 5.9% in the third quarter. Bank lending rose 2.3% in November, following the muted 0.3% growth in October. The total Singapore-dollar bank loans rose over the month to $415.8 billion in November, mainly underpinned by business loans which turnaround from the decline in the previous month.

Singapore stock market and companies daily report (Fortune Reit, Yoma, Keppel) (December 30, 2011)

Fortune Real Estate Investment Trust (Fortune Reit) is eyeing two retail properties in Hong Kong for a HK$1.9 billion ($319 million) acquisition. Independent financial adviser CIMB has backed the proposed deals, saying that they are fair and reasonable, and in the interests of Fortune Reit and its unitholders. Mainboard-listed Yoma Strategic Holdings’ (Yoma) share price shot up about 30% over the past week, drawing a query from the Singapore Exchange before reaching a three-year closing high at the end of trading on 29 December. In a filing on 29 December, Yoma said it did not know of any information that could affect its share price.

Singapore stock market and companies daily report (SMB, Hafary, FirbreChem) (December 29, 2011)

SMB United’s (SMB) mystery bidder was unveiled yesterday, as Osaka Electric (Osaka) revealed its $0.40 per share offer. Despite the late entrance, the Japanese manufacturer introduced a lucrative twist to the tussle as its offer is 25% more than that of the rival. Hafary Holdings (Hafary) is likely to book a $22.35 million gain, arising from the sale of all units at its freehold Aljunied property. Specifically, the tiles and building materials supplier had entered into 59 sale and purchase agreements with 49 purchasers for all the units at a collective consideration of $65.28 million.

Singapore stock market and companies daily report (Sembcorp, Hyflux, Midas) (December 28, 2011)

Sembcorp Utilities is reportedly vying to build Oman’s latest desalination plant, the US$350-400 million ($454-519 million) Ghubrah independent water project (IWP) in the country. Sembcorp is among 16 other companies, including another Singapore company, Hyflux, who are contending for the licence to develop, own, finance, and operate the gas fired, water-only project which will produce 42 million gallons of water daily. Hyflux has injected two China water-treatment plants into its 50-50 joint venture (JV) with Mitsui & Co for a consideration of US$41.2 million ($53.4 million).

Singapore stock market and companies daily report (WCL Holdings, Singapore Exchange, Hiap Seng) (December 27, 2011)

Wilmar International’s unit, WCL Holdings (WCLH) has secured a deal with Kuok Group to buy the remaining 1.61% interest in Wilmar China not held by WCLH for a total of about HK$1.93 billion ($320.8 million). Singapore Exchange (SGX) will soon add 15 new American Depositary Receipts (ADRs), bringing the total of ADRs provided by SGX to 42, and offering more international investment opportunities for market participants. Hiap Seng Engineering has entered a strategic alliance with China’s Offshore Oil Engineering Company, a unit of China National Offshore Oil Corporation (CNOOC) to expand its presence in China.

Singapore stock market and companies daily report (SATS, Keppel, Olam) (December 23, 2011)

SATS and its Spanish cruise terminal partner, Creuers Del Port de Barcelona are poised to be joint operators of the $500 million International Cruise Terminal (ICT). Keppel Corporation’s (Keppel) offshore and marine unit has clinched a US$809 million ($1 billion) contract from Brazilian firm Sete Brasil Participacoes. Olam International (Olam) is acquiring a 75.2% interest in Spain’s Macao Commodities Trading (MCT) for 15 million euros ($25.3 million), with an option to take over the remaining 24.8% stake in five years time.

Singapore stock market and companies daily report (NOL, Dukang Distillers, IEV) (December 22, 2011)

Neptune Orient Lines (NOL) has entered a new alliance on the unprofitable Asia-Europe trade with five other shipping lines – Hapag-Lloyd, Hyundai Merchant, Mitsui OSK Lines​, Nippon Yusen KK and Orient Overseas Container Line​ – in an effort to stem the decline in rates. Dukang Distillers Holdings (Dukang Distillers), which has been traditionally focus on baijiu production, is adding sake to its product range. The group has appointed Taiwan Tobacco & Liquor Corp to produce sake at the latter’s breweries in Taiwan, marking its first major corporate activity on the island since the listing of its Taiwan depository receipts on the Taiwan Stock Exchange.

Singapore stock market and companies daily report (Noble Group, SembMarine) (December 21, 2011)

Rent for prime Orchard Road retail space remained stable for 4Q11 as limited supply of space kept rents firm. Prime Orchard Road retail space rents remained unchanged at $31.60 per square foot (sq ft)per month in the 4Q11 and grew marginally by 4.6% year-on-year. Noble Group’s (Noble) Australian coal mining subsidiary, Gloucester Coal could be sold approximately US$2 billion ($2.6 billion) to China’s Yanzhou Coal Mining​ (Yanzhou). Talks are currently ongoing as Gloucester said that it expects to make “an announcement in connection with a possible change of control transaction”.

Singapore stock market and companies daily report (Global Logistic Properties, China International, Sembcorp Marine) (December 20, 2011)

Global Logistic Properties (GLP) has joined hands with Chinese sovereign wealth fund China Investment Corp​ (CIC) to acquire 15 logistics facilities in Japan for 122.6 billion yen ($2.1 billion). The properties comprise a gross floor area of 770,989 square metres, of which 90% is located in Greater Tokyo and Osaka. China International Holdings (China International) has raised its stake in a petroleum exploration project in Papua New Guinea. This came after a second fund injection of US$3.5 million, bringing its total investment in the project to US$9.5 million.

Singapore stock market and companies daily report (K-Reit Asia, Ascendas) (December 19, 2011)

A collective sigh of relief has been made by manufacturers and importers as commodity prices fall sharply across the board from their peaks this year. The decline, however, could unnerve producers like Olam and Noble. K-Reit Asia’s (K-Reit) 50% owned office tower in Sydney has found its first anchor tenant for 40% of its net lettable area. The tenant, Australian law firm, Corrs Chamber Westgarth, has pre-committed to about 87,000 square feet of space for a 12-year term, over nine levels of the 30-storey building.

Singapore stock market and companies daily report (Nodx, Bank of Singapore, Singapore Airlines) (December 16, 2011)

Non-oil domestic exports (Nodx) rose 1.6% on a year-on-year basis, in contrast to the 16% drop in October. Both electronic and non-electronic domestic exports grew in November by 0.1% and 2.4% respectively. After a 31% decline in October, growth in exports of telecommunications equipment (+42%) and other computer peripherals (+68%) helped pushed electronics exports up. Bank of Singapore, OCBC’s private banking arm, has been recruiting in the past year to keep pace with its rapid growth amid a tumultuous global economic background. In a statement on 15 December, OCBC said that it has added 150 more staff in addition to boosting its management team to better manage its growth.

Singapore stock market and companies daily report (CNMC, Beyonics) (December 15, 2011)

Swiss bank, Credit Suisse, remains bullish on Asia equities, advising investors that they should add to stock holdings ahead of an eventual global recovery. It substantiates such a claim with the attractively low valuations of Asian equities. Fan Cheuk Wan, head of research for Asia-Pacific at the bank’s private banking division said that equity prices in Asia already reflect “overly pessimistic” expectations of a slump in corporate earnings. CNMC Goldmine Holdings (CNMC), a recently listed company, narrowed its net loss to US$136,439 for 3Q11. It had previously booked a substantially higher quarterly loss in 3Q10 at US$522,808. CNMC reported 3Q11 revenue that was up by nearly 9 times to US$1.95 million.

Singapore stock market and companies daily report (UOB-Kay Hian, Hyflux Forays) (December 14, 2011)

UOB-Kay Hian Holdings (UOB-Kay Hian), the local largest stockbroking group, has entered a share purchase agreement to acquire Malaysian licensed broker Innosabah Securities (Innosabah). Under the proposed deal, UOB-Kay Hian will purchase Innosabah’s entire paid-up capital of 51.1 million shares from Kretam Holdings. Hyflux has commissioned a power plant for its Tuaspring project, the company’s second and largest desalination plant in Singapore.

Singapore stock market and companies daily report (Fitch Ratings, FibreChem, Sembcorp) (December 13, 2011)

Credit rating agency, Fitch Ratings (Fitch), is predicting a slimmer 2012 for all three telecommunication companies (telcos) here. Fitch notes that people are texting and talking less but consume more data which carry lower margins. The cause of this change in consumer behaviour stems from the smartphone revolution that is gripping the local populace. Creditors have come knocking on beleaguered FibreChem Technologies’ door after an attempt to rescue the firm by Indonesian firm, Prima Andalan, fell through. FibreChem had previously struck a deal with Prima Andalan for the latter to invest up to US$50 million via new shares subscription and had planned to use part of the proceeds to restructure or settle all liabilities. 

Singapore stock market and companies daily report (DBS, Global Investment, Yangzijiang) (December 12, 2011)

The private banking business is proving to be more valuable to local banks in the midst of today’s tight liquidity environment. As European banks retreat from the trade finance arena, local banks such as DBS, UOB and OCBC have stepped in to fill the gap. In announcements made on the morning of 12 December, mutual fund company, Global Investments, said that it would be selling two Boeing 757-200​ aircraft to Federal Express Corporation​ (FEDEX) in the United States. Both aircraft are currently leased to Thomson Airways​ which is scheduled to expire in 30 April 2013.