Singapore stock market and companies daily report (United Fiber System ,Yangzijiang Shipbuilding,Sri Trang Agro-Industry ) (September 02, 2010)
United Fiber System (UniFiber) has proposed to raise $178m through the issue of subscription shares to Falcon Capital Global Holding (Falcon) at an issue price of $0.05 apiece. This will lead to Falcon taking a majority stake of 51.5% of the enlarged share capital of UniFiber.Yangzijiang Shipbuilding (Hldgs) is issuing 240m underwritten Taiwan Depository Receipts (TDRs) at NT$18.8 apiece. This translates to about $1.585 for every share since every 2 TDRs represent 1 share of the firm. Thailand-listed Sri Trang Agro-Industry Public Company (Sri Trang) is delaying its dual primary listing in Singapore due to recent volatility in the equity markets globally. The firm is conditionally eligible to list on the mainboard of Singapore Exchange (SGX) based on the eligibility-to-list letter from SGX.
Singapore stock market and companies daily report (Ezra Holdings, OSIM International ,Yongnam Holdings ) (September 01, 2010)
Ezra Holdings (Ezra) is proposing a 1-for-5 rights issue to raise about $155.3m in gross proceeds. The offshore service provider said that its fully underwritten renounceable rights issue will offer 131.6m new shares at an issue price of $1.18 each.OSIM International (OSIM) intends to focus its expansion plans in China, which has been a key growth market for over 10 years. There are currently 228 OSIM outlets in China, which will increase to 270 by the end of the year.Yongnam Holdings (Yongnam), a well established structural steel contractor and specialist civil engineering solutions provider, has been awarded its first contract for the MRT Downtown Line 2 (DTL 2) valued at $25m.
Singapore stock market and companies daily report (Yangzijiang Shipbuilding,United Industrial Corp,Sinotel Technologies ) (August 31, 2010)
Yangzijiang Shipbuilding (Hldgs) has entered into 28 shipbuilding contracts with a total value of about US$915m since July 1. The new contracts will see Yangzijiang building mostly dry bulk carriers and 8 container vessels, which will be scheduled for deliveries from 2011 to 2013.United Industrial Corp (UIC) has paid a development charge of $160.1m to the Urban Redevelopment Authority (URA) for the redevelopment of UIC Building at 5 Shenton Way.Sinotel Technologies has launched a 1-for-4 rights issue to raise gross proceeds of up to $23.6m, which will involve up to 84.35m new shares at an issue price of $0.28 each. The issue price represents a 23.3% discount to the stock’s closing price of $0.365 on Aug 27.
Singapore stock market and companies daily report (Guocoland, Qingmei Group holdings, Transcu Group’s) (August 30, 2010)
Guocoland returned to the black, posted a FY10 net profit of $134.3m, reversing the $70.2m net loss in the previous year, mainly due to recognition of profit from strong sales in China, where its Ascot Park, a 1,112 unit development in Nanjing, had been fully sold.Qingmei Group holdings (Qingmei), the producer of high-end sports shoe soles reported a FY10 net profit of Rmb249.99m ($49.8m), up from Rmb182.47m a year back, due mainly to savings from economies of scale.Transcu Group’s Japan-based skincare cosmetics unit has significantly ramped up sales through Japanese multi-brand stores. Meanwhile, the firm said it is in final negotiation with a major Japanese pharmaceutical company for a licensing agreement under its pharmaceutical business.
Singapore stock market and companies daily report ( The Dow, Fraser and Neave, Ying Li International Real Estate ) (August 27, 2010)
The Dow lost its grip on 10,000, ending near session lows on Thursday as trading was light and investors braced for two events on Friday: the latest reading on second-quarter GDP and a speech by Fed Chairman Ben Bernanke.Fraser and Neave (F&N)’s Bursa-listed subsidiary is buying a 23.1% stake in Cocoaland Holdings Berhad (CHB) for RM54.6m ($23.6m), in a bid to strengthen its food products portfolio.Ying Li International Real Estate has acquired a commercial development site in China’s Chongqing city for Rmb697m ($139.5m). It added in a separate announcement that it has obtained credit facilities of up to US$200m from Standard Chartered Bank (China).Eu Yan Sang International posted a 47% yoy increase in its FY10 net profit to $19.2m, boosted in part by a $1.17m fair value gain on investment properties and a $331,000 revaluation gain on property, plant and equipment
Singapore stock market and companies daily report ( Dow Jones Industry, Tiong Woon Corp Holdings ,China Minzhong Food Corp ) (August 26, 2010)
The Dow Jones Industrial Average gained 0.2% to close at 10,060.06, snapping a four-day losing streak after a late rally as investors speculated that recent declines in equities overshot the potential damage from a slowdown in the economy.Tiong Woon Corp Holdings (Tiong Woon) recorded a full-year net profit of $23.9m – a 43% dive from the $42.3m made a year ago. The drop in net profit was partly due to losses in marine transport, resulting from a lower gain on disposal of tugs and barges and low fleet utilisation.China Minzhong Food Corp (China Minzhong) registered a 27.6% jump in net profit to Rmb367.5m for FY10. Revenue grew 34.5% to Rmb1.42b on the back of higher sales, in both processed products and fresh vegetable produce, and higher selling prices as the group continued to shift towards higher-value products in both segments.
Singapore stock market and companies daily report (Dow Jones Industry,Raffles Education Corp,Time Watch Investments ) (August 25, 2010)
The Dow Jones Industrial Average lost 1.3% to 10,040.45, after a dismal report showing home sales plunged 27.2% in July stoked worries about the economic recovery. The fall was more than double the percentage forecast of most analysts.Raffles Education Corp lifted its net profit for FY10 2.8% to $52.6m on the back of a fair-value gain, as revenue dipped.Time Watch Investments (Time Watch) posted a near tripling of its 4Q10 net profit, thanks to a big boost in fair value of investment properties and higher sales.
Singapore stock market and companies daily report (Wilmar International, Tai Holdings, C&O Pharmaceutical ) (August 24, 2010)
Wilmar International (Wilmar), the world’s No.1 listed palm oil firm, said it will buy an Indonesian sugar refinery and a Singapore sugar trading firm, Windsor & Brook Trading to complement the development of plantations in Papua. Property group Wing Tai Holdings’ FY10 net profit rose more than 7-fold on the back of a 64% jump in revenue, mainly contributed from the development properties sold in Belle Vue Residences as well as the progressive sale recognized from The Riverine by the Park in Singapore.C&O Pharmaceutical (C&O) has reported a 62.6% jump in its 4Q10 net profit to HK$60m ($10.5m), as revenue rose 16% to HK$189.3m. FY10 net profit on the other hand increased 44% on the back of a 18.7% jump in revenue, buoyed mainly by higher sales of exclusive and own-brand products, which carry high margins
Singapore stock market and companies daily report (Dow Jones Industrial, Mapletree Logistics Trust , HupSteel ) (August 23, 2010)
The Dow Jones Industrial Average ended down 0.9% to 10,213.62 as a jump in jobless claims and an unexpected slump in Philadelphia-area manufacturing suggested a rebound in corporate profit growth won’t be sustained.Mapletree Logistics Trust (MapletreeLog) is investing $32m to acquire a second warehouse in South Korea.HupSteel’s net profit for 4Q10 rose 62% to $4.14m while revenue slipped 15% to $57.18m on the back of lower sales of plates. Gross profit margins improved to 17.5% from 11.7% in 4Q09 as the group had been running down its higher cost stocks in the earlier quarters and replenishing them with lower cost stocks. For FY10, net profit was down 27% YoY to $10.32m while revenue dropped 45% to $177.7m.
Singapore stock market and companies daily report (Dow Jones Industrial, Jaya Holdings , Rotary Engineering, Singapore Mercantile Exchange) (August 20, 2010)
The Dow Jones Industrial Average ended down 1.4% to 10,271.21 after falling sharply most of the day, accelerated by a weak report on manufacturing out of the Mid-Atlantic region. Both the S&P 500 and the Nasdaq fell 1.7%, breaking a 3-day winning streak for both indexes.Jaya Holdings (Jaya) has posted a surge in net profit to $103.72m for FY10, up from just $1.2m for FY09. The huge jump was mainly due to impairment losses and provisions for associated costs of $99.4m made in FY09 for certain projects after the group reconfigured its shipbuilding programme under its restructuring exercise.Rotary Engineering (Rotary) said it is expanding its horizon to building, owning and operating oil storage terminals in South-East Asia (SEA) and the Middle East.
Singapore stock market and companies daily report (Soilbuild Group, UK Casinos, CSC Holding) (August 19, 2010)
US stocks gained on Aug 18 as a strong showing by retailers offset the impact of high oil inventories that’s weighed on major energy stocks. Integrated property developer Soilbuild Group Holdings is divesting Penjuru Logistics Hub, a purpose-built logistics warehouse located near Jurong Island and Jurong Port, for $60m. Shareholders of Genting Singapore have approved the sale of its UK casinos, including Crockfords, the world’s oldest private gaming club to parent Genting Malaysia for £340m ($716m) during an extraordinary general meeting (EGM) on Aug 18. CSC Holdings’ subsi, CS Construction & Geotechnic (CSCG) faces a $10.34m claim from Penta-Ocean Construction (POC). CSCG was sub-contracted to carry out certain piling and foundation works under Exxon-Mobil’s Singapore Parallel Train Project at Jurong Island.
Singapore stock market and companies daily report (Olam International, Pine Agritech) (August 18, 2010)
The Dow Jones Industrial Average ended 1.01% higher, closing at 10,405.85, ending a 5-day losing streak, on the back of encouraging economic data and positive quarterly earnings from retail giant Wal-Mart and home improvement chain Home Depot. Olam International will be investing US$43.5m to set up a greenfield cocoa processing facility, as well as a primary processing and warehousing facility in the Ivory Coast. Pine Agritech’s major shareholder Link Crest (LC) has launched a mandatory conditional offer to take the mainboard-listed company private.
Singapore stock market and companies daily report (Olam International, Neptune Orient Lines) (August 17, 2010)
Stocks ended a quiet trading session largely flat, with the Dow closing with a slight loss on Aug 16. Technology stocks gave a modest boost to the Nasdaq, which ended higher. Olam International’s bid for NZ Farming Systems Uruguay (NZFSU) at NZ$0.55 per share has been upstaged by the Uruguayan-based Union Agriculture Group, which threw in a bid of NZ$0.60 per share yesterday. Neptune Orient Lines (NOL) said yesterday that it has finalised an order for two new 10,700-TEU container ships valued at $1.2b, on a day when it also reported higher container shipping volumes.
Singapore stock market and companies daily report (Wilmar International, SC Global) (August 16, 2010)
Stocks fell sharply last week after a sluggish day of trading marked by thin volume. Wilmar International (Wilmar) has confirmed that it would buy a 20% stake in Kencana Agri for $80.36m or 35 cents a share. Property developer SC Global posted a 5-fold jump in net profit to $40.4m for 2Q10. Revenue was also up 18% at $267.7m.
Singapore stock market and companies daily report (Noble Groups, Wilmar) (August 13, 2010)
Stocks closed lower on Aug 12, continuing a losing streak amid light volume and continued worries over the state of the economy. Noble Group’s earnings for the second quarter tumbled 65% from a year ago after costs rose and as last year’s income was inflated by a revaluation gain. Wilmar posted an unexpected 15% decline in its 2Q10 net profit, hit by losses on convertible bonds and weaker margins.
Singapore stock market and companies daily report (Yangzijiang Shipbuilding, HTL International Holdings) (August 12, 2010)
The Dow Jones Industrial Average fell 2.5% to 10,378.83 as investors lost confidence in the global economic recovery following the Federal Reserve’s grimmer outlook and softening growth in China. Yangzijiang Shipbuilding posted Rmb800.5m in net profit for 2Q10 – a quarterly record – as it delivered more vessels during the period. Lifting net profit by 32%, Yangzijiang’s 2Q10 revenue grew 23% YoY to Rmb3.07b with the progressive rise in the new yard’s productivity. HTL International Holdings (HTL) has reported a 66.9% YoY increase in 2Q10 net profit to $7.8m.
Singapore stock market and companies daily report (United Overseas Bank’s, KSH Holdings) (August 11, 2010)
The Dow Jones Industrial Average fell 0.5% to 10,644.25, after being down nearly 150 points earlier, after the Federal Reserve said it plans to buy government debt in an effort to buoy the economy. United Overseas Bank’s (UOB) net profit grew 28% YoY to $602m in 2Q10 due to a sharp drop in bad-loan charges. But revenue from its main lending business dropped, as the group took a cautious approach to making new loans, while loan margins were hurt by intensifying competition among banks. KSH Holdings (KSH) posted a 54% YoY leap in net profit to $4.2m for 1Q11. Revenue was also up 21% at $72.4m, propelled by its construction segment.
Singapore stock market and companies daily report (Olam International, Ntegrator International, Cerebos Pacific) (August 09, 2010)
Olam International (Olam) has issued US$250m ($337m) in unsecured bonds, the leading global, integrated supply chain manager of agricultural products and food ingredients said in a statement on the Singapore Exchange. Ntegrator International (Ntegrator), a leading regional communications network specialist and systems integrator, has secured another four contracts worth $15.5m. Mainboard-listed Cerebos Pacific (Cerebos), a leading food and health supplements company, has outsourced the management of its network infrastructure to Australian giant Telstra International, a division of Australian giant Telstra Corp.
Singapore stock market and companies daily report (GIC, STATS ChipPAC, Hyflux, Tiger Airways) (August 09, 2010)
Singapore sovereign wealth fund Government of Singapore Investment Corporation (GIC) has added three banks as joint bookrunners for the upcoming IPO of its logistics unit that could raise as much as US$3b. Demand for STATS ChipPAC US$600m Bonds was strong when they went on sale this week. On Wednesday, the 83% Temasek-owned unit was mobbed by investors when it sold its 7.5% five-year bonds. Water company Hyflux reported its 2Q10 net profit rose 5% to $27.3m. Revenue rose 4% to $140.4m from $134.5m a year ago. Tiger Airways posted a $1.9m net profit for its first quarter ended June 30, reversing a loss of $6m a year earlier.
Singapore stock market and companies daily report (STATS ChipPAC, Hyflux, Tiger Airways) (August 06, 2010)
Singapore sovereign wealth fund Government of Singapore Investment Corporation (GIC) has added three banks as joint bookrunners for the upcoming IPO of its logistics unit that could raise as much as US$3b. The three bookrunners – UBS, China International Capital Corp (CICC) and DBS – will help in the listing of Global Logistic Properties (GLP), which owns warehouses in China and Japan.
Singapore stock market and companies daily report (CapitaLand, Roxy-Pacific Holdings, Innovalues) (August 08, 2010)
The Dow Jones Industrial Average rose 0.4%, to close at 10,680.43, while the S&P 500 gained 0.6% to close at 1,127.24, as encouraging reports on jobs and the services sector fueled hopes for a recovery. CapitaLand reported a 2Q10 net profit of $476.1m, reversing from a net loss of $156.9m in Q209 due to a net fair value loss of $212.6m arising from the valuation of properties in Singapore and Australia. Roxy-Pacific Holdings announced a 37% rise in its 2Q10 net profit to $12.8m on the back of a 27% growth in revenue to $55.4m. Innovalues has returned to profitability, with its latest quarterly earnings ended in June show that the firm made a net profit of $1.54m, reversing a $1.02m loss it incurred over the same period last year.
Singapore stock market and companies daily report (Sembcorp Marine, Jade Technologies, Singapore Technologies Engineering) (August 04, 2010)
Stocks retreated on 3 Aug-10, led by consumer discretionary and materials, amid disappointment in the latest round of earnings and economic reports. Sembcorp Marine reported a 28% yoy rise in net profit to $176.1m in 2Q10. Catalist-listed Jade Technologies Holdings (Jade Technologies) returned to the black and announced a 2-for-3 rights issue. Singapore Technologies Engineering (ST Engineering) reported a 14.1% increase in its 2Q10 net profit, lifted mainly by higher revenue from the sale of land vehicles and equipment.
Singapore stock market and companies daily report (Oversea-Chinese Banking Corp’s, COSCO Corp) (August 03, 2010)
The Dow Jones Industrial Average gained 2% as all 30 Dow components finished higher, after a better-than-expected manufacturing reading and some strong bank earnings out of Europe. Oversea-Chinese Banking Corp’s (OCBC) net profit rose 8% YoY to $503m in 2Q10, missing analysts’ estimates, as the group struggled to boost its lending income amid low interest rates, while investment income halved due to turbulent financial markets. COSCO Corp (S) reported an 85% YoY surge in net profit to $68.4m for 2Q10, resulting in a 43% rise in 1H10 net profit to $100.1m.
Singapore stock market and companies daily report (SMRT Corp, Pan Hong Property Group) (August 02, 2010)
Stocks ended relatively flat on 30 Jul-10 after a disappointing GDP report but the Dow logged its best month in a year, rising more than 7%. SMRT Corp registered a 20.7% fall in net profit to $38.24m for its fiscal first quarter ended June 30, has cautioned that it may not be able to maintain FY10’s profitability for FY11. Pan Hong Property Group, a residential developer in China, expects to sell more homes this year amid a rebound in the real estate market.
Singapore stock market and companies daily report (Singapore Shipping Corporation, GMG Global, Stamford Land ) (July 30, 2010)
Singapore Shipping Corporation (SSC) recorded a 66% dive in net profit to $450,000 for the first quarter ended June 30 despite a surge in revenue. Natural rubber producer GMG Global (GMG) generated a net earnings of $9.5m in 2Q10 compared to a net loss of $3.8m in 2Q09. Revenue for 2Q10 was $80.7m from 19,069 tonnes sold, 109.5% higher compared to $38.5m from 18,342 tonnes. Property group Stamford Land lifted its earnings more than 10 times to $38m, from $3.2m a year earlier, for the first quarter ended June 30. This was despite flat topline revenue of $52m.
Singapore stock market and companies daily report ( Dow Jones Industrial, Singapore Post’s,Frasers Commercial Trust ) (July 29, 2010)
The Dow Jones Industrial Average fell 0.4%, after orders for durable goods suffered the biggest drop in almost a year in June, on weaker demand for airplanes and electronic goods. Singapore Post’s (SingPost) net profit grew 3.2% to $40.7m for 1Q11 while revenue over the period came in at $138.2m, a 13.5% increase YoY.Frasers Commercial Trust (FCOT) reported a 39% increase YoY to $7.7m in income distributable to unit-holders for 3Q10. Distribution per unit (DPU) for the quarter also rose 39% to 0.25 cent, taking DPU for 9M10 to 0.81 cent, an increase of 21% YoY.
Singapore stock market and companies daily report (Dow Jones Industrial, Biosensors International Group, Indonesian Noodle Maker) (July 28, 2010)
The Dow Jones Industrial Average rose 0.1% to close at a 2-month high, pulling off its fourth-straight gain, built on solid company earnings.Biosensors International Group (Biosensors) has reported net profit of US$3.24m for 1Q11, down 23% YoY, mainly due to restructuring and impairment charges relating to the planned closure of its US operations. Excluding the restructuring charges, its net profits would have been US$9.2m in the quarter.Consciencefood Holdings, an Indonesian maker of instant noodles, launched an IPO to raise $18.8m.
Singapore stock market and companies daily report (Raffles Medical,First Ship Lease Trust,Singapore Airlines ) (July 27, 2010)
Raffles Medical registered a 20.3% rise in its 2Q10 earnings, mainly contributed by improvement in operating efficiencies, recruitment of more specialists, higher patient loads, and a wider range of clinical services and medical specialties.First Ship Lease Trust (FSL) registered a 2Q10 net loss of US$6.11m, compared with a US$2.35m net profit a year earlier.Singapore Airlines (SIA) reported a 1Q10 profit of $252.5m, reversing a loss of $307.1m in the April-June 2009 period. Revenue on the other hand jumped 20.7%, boosted by the recovery in passenger numbers and improved yields.
Singapore stock market and companies daily report (The Dow Jones Industrial, MapleTree Logistics Trust,Raffles Medical Group ) (July 26, 2010)
The Dow Jones Industrial Average gained 1% on Friday, led by industrials, after better-than-estimated earnings from companies lifted confidence the economy is recovering. For the week, the Dow finished 3.2% higher. MapleTree Logistics Trust (MapleTreeLog) posted improved results for 2Q10 on the back of lower property and other expenses as well as borrowing costs. Amount distributable to unitholders in 2Q10 was $30.9m, up 8% YoY. Raffles Medical Group registered a 20.4% increase in net profit at $10.6m for 2Q10, boosted by stronger contributions from its hospital and healthcare segments.
Singapore stock market and companies daily report (Dow Jones, Capitamall Trust,Suntec REIT’s,COSCO Corporation ) (July 23, 2010)
Stocks logged their best day in two weeks on 22 Jul-10 as a strong batch of earnings reports revived optimism about the economic recovery.Capitamall Trust (CMT) posted a 7.5% yoy increase in 2Q10 distributable income and unveiled plans to invest about $150m in asset enhancement works at The Atrium @ Orchard.Suntec REIT’s 2Q10 distribution income dropped 3.7% to $45.9m, while distribution per unit (DPU) fell 15.1% to 2.528 cents.COSCO Corporation (S)’s 51% owned subsidiary Cosco Shipyard Group, has secured a contract worth more than US$500m to build a deepwater drillship.
Singapore stock market and companies daily report (Wilmar International, Midas Holdings, Keppel Offshore & Marine, Kreuz Holdings) (July 22, 2010)
Wilmar International (Wilmar) is buying 91.38% of Natural Oleochemicals, a unit of Malaysia’s Kulim group, for RM450m ($192.3m) in cash. Midas Holdings’s Aluminium Alloy Division, Jilin Midas Aluminium Industries unit has won two contracts worth a combined Rmb130m ($26.4m) to supply aluminium alloy extrusion profiles for 480 railway cars. Keppel Offshore & Marine (Keppel O&M), through Keppel Shipyard and Keppel FELS Brasil SA, has secured two contracts totalling $170m from repeat customers for the conversion of a Floating Production Storage and Offloading (FPSO) vessel and repair of a semisubmersible drilling rig respectively.
Singapore stock market and companies daily report (Keppel Land, Singapore Technologies, OSIM International) (July 21, 2010)
US stocks rose, erasing an early slide, amid speculation the Federal Reserve will take steps to spur the economy. Keppel Land (KepLand) registered a 20.3% rise in its net profit, largely driven by strong residential sales in Singapore and China, and growth in its fund management and property investment businesses. Singapore Technologies Engineering’s unit, ST Aerospace, will partner Guangdong Airport Management Corporation (GAMC) to set up a commercial aircraft heavy maintenance facility in China.
Singapore stock market and companies daily report (Yangzijiang Shipbuilding, Viking Offshore and Marine) (July 20, 2010)
US stocks rose, rebounding from the biggest drop this month, as optimism about earnings from technology and energy companies overshadowed a drop in financial shares. Yangzijiang Shipbuilding (Holdings) chalked up 10 shipbuilding contracts worth US$234.2m in the second quarter of this year, lifting its outstanding order book to 124 vessels worth about US$5.2b as at June 30. Viking Offshore and Marine (Viking) has bought controlling stakes in 2 offshore-related companies for nearly $29.8m.
Singapore stock market and companies daily report ( ) (July 19, 2010)
Stocks ended the week down 1% on disappointment in earnings and economic news. Rokko Holdings expects to reverse a pre-tax loss for the first half of the year in the range of $3m to $3.5m as compared to a loss of $1.2m a year ago. Olam International said it would offer NZ$0.55 a share for full control of a New Zealand-listed dairy farming company.
Singapore stock market and companies daily report ( Jackspeed Corporation,CapitaLand’s Australian unit,Tat Hong Holdings’s ) (July 16, 2010)
M1 registered a 10% rise in net profit to $40.8m for 2Q10 due to improved operating revenue and larger customer base. Jackspeed Corporation has entered into a sale and purchase agreement with Mil-Com Investments to purchase 800,000 Mil-Com Aerospace shares representing an 80% stake for $6.3m. Mil-Com Aerospace is in the business of the provision of aerospace engineering support services, aviation training and consultancy services. CapitaLand’s Australian unit, Australand, has established a A$1.3b unsecured debt facility. This replaces existing secured facilities totalling A$1.15b.Tat Hong Holdings’s subsidiary, Tat Hong International, has agreed to buy all the remaining shares of Tutt Bryant Group (TBG) that it does not already own at 92 Aussie cents ($1.12) a share.
Singapore stock market and companies daily report (The Dow Jones Industrial , First Ship Lease Trust) (July 15, 2010)
The Dow Jones Industrial Average closed 0.04% higher, clinching a 7-day positive streak, after Intel delivered strong earnings. The Nasdaq climbed 0.35% while the S&P lost 0.02%. The market was up in early trades as investors shrugged off weak retail sales. China reported a slowdown in 2Q gross domestic product growth which indicated the nation’s rapid expansion was beginning to cool as it withdrew some of its expansionary policies. First Ship Lease Trust (FSL Trust) has received US$6m, following the non-fulfilment of contracts by FSL Trust’s client Groda Shipping & Transportation (Groda) of 2 vessels.
Singapore stock market and companies daily report (The Dow Jones Industrial , PLife Reit ,Miyoshi Precision) (July 14, 2010)
The Dow Jones Industrial Average closed 1.4% higher as 2Q earnings season kickoff with a positive start and Greece’s sale of debt bolstered optimism in the economic outlook. The Nasdaq gained nearly 2%, while the S&P climbed 1.5%. It was the market’s first 6-day winning streak since late April. This was despite a downgrade on Portugal after Moody’s Investors Service cut the nation’s bond ratings to A1 from Aa2. Oil prices rose above US$76 a barrel as rising equities markets helped traders shrug off a report showing the pace of crude demand slowing next year. Gold prices jumped nearly 2% to above US$1,215 an ounce while the euro hit a 2-month high against the US dollar.
Singapore stock market and companies daily report ( ) (July 13, 2010)
Singapore Press Holdings (SPH) posted a 47.4% jump in its 9M10 net profit boosted mainly by the strong rebound in advertising sales and higher contribution from its property segment. Sembcorp Marine’s subsidiary, Jurong Shipyard has inked a deal to sell a US$356m jack-up drilling rig to a unit of Seadrill, a Norwegian company. Thomson Medical Centre (Thomson Medical) posted a 39% jump year-on-year in net profit to $4.8m for the third quarter ended May 31, 2010.
Singapore stock market and companies daily report ( TMC ,ES Group ) (July 12, 2010)
Stocks logged their best week in nearly a year, led by commodity and bank stocks, as investors looked to earnings season, which kicks off this week. The Dow Jones Industrial Average gained 59.04, or 0.6%, on 9 July-10 to close at 10,198.03. That brings the Dow’s total gain for the week to 5.1% and marked the best performance since the week ended 17 Jul-09, when the Dow gained 7.3%. Commodity stocks rallied amid signs of global growth and ahead of earnings from Alcoa, due out on Monday. Banks rebounded after being the biggest decliners at the start of Friday’s session.
Singapore stock market and companies daily report (Dow Jones,Leader Environmental Technologies,Singapore Exchange ) (July 09, 2010)
The Dow Jones Industrial Average rose 1.2%, putting it on track for its best week in over a year, as sentiment was lifted by a drop in the number of Americans registering for jobless benefits and the IMF’s upward revision of global growth forecast. China-based environmental protection solutions provider, Leader Environmental Technologies (LET) has launched its IPO, hoping to raise $16m in net proceeds from a listing on the mainboard. The Singapore Exchange (SGX) signed a memorandum of understanding (MOU) with China’s Suzhou Industrial Park (SIP) to promote the listing of companies from SIP and other parts of its province on SGX.
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US stock market daily report (September 01, 2010, Wednesday)
Stocks rallied in the first trading session in September, with the Dow being up triple digits. Thanks to a better than expected report on manufacturing, all three major indexes were on the rise. Typically in September, stocks post losses for the month. Investors say that maybe this year's September was in August. Stocks took a big hit in August; all three major indexes reported pretty significant losses. Coming in first was the Nasdaq; the index lost 6.2% in August, the Standard & Poor's 500 index is down 4.7% and the Dow Jones Industrial Average lost 4.3%. Recently when economic reports are released and they are better than expected stocks rise. Investors are looking for any positive news on the economy. They have feared throughout the summer that the economic recovery is headed towards a stand still. Analysts believe that the market will more than likely continue to fall overall. Despite the weary report from ADP stocks continued to rise. ADP is a payroll processing firm whose report is used as a way to tell what kind of report we will get from the Labor Department in their weekly report on the job market. ADP reported that employers cut 10,000 jobs in August, down from the 37,000 jobs added in July.
US stock market daily report ( August 31, 2010, Tuesday)
It was reported today that the amount of U.S. Banks in trouble is at a high that hasn't been seen since 1993. In a government report, the number of banks that have a possibility of filing doubled since last year. In the Federal Deposit Insurance Corp's quarterly survey, it showed an increase by 53 banks, taking the overall number to 829 banks being watched to fail. Just because the FDIC is watching these banks doesn't necessarily mean the financial institution will fail, it is just struggling. Few banks on the list actually get to that point; only 13% of banks on the list close. Last year the FDIC list reached 416, but in the first quarter of 2010 it rose to 775. In the report, it showed that 118 financial institutions have closed this year, and 45 of them were closed just in the second quarter.
US stock market daily report (August 30, 2010, Monday)
Today's stock market news wasn't the news investors were looking for to continue the rallies of Friday. Investors remained cautious in the first trading day of the week; stocks were headed lower after a positive report on consumer spending. This morning the Commerce Department reported that consumer spending rose 0.4% in July, up from the 0.1% it rose in June. Analysts' were looking for spending to rise by 0.2%, so were pleasantly surprised. Personal incomes rose in July; there was a rise by 0.2%, unchanged from the previous month. Analysts' were expecting to see spending rise by 0.3%. Analysts' say without a steady rise in personal income that the rise in consumer spending will only be temporarily
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Intel Corp. (Nasdaq:INTC) is poised to top estimates over the next two quarters, 8 September 2009
Intel Corp. (Nasdaq: INTC) is a cyclical company. That is, its stock does extremely well when the economy is ready to accelerate, and does poorly when the economy decelerates. So it’s no wonder that last year the stock fell more than 50% from the record-high of $27.78 a share it reached December 2007. However, the company has rallied more than 50% from its Feb. 23 low of $12.08 a share. It closed Friday at $19.64.
Verint Systems price target reduced, 7 December 2007
RBC Capital Markets reduced its price target on Verint Systems from $34 to $25.
Thomas Weisel upgraded Intel to "overweight", 6 December 2007
Thomas Weisel Partners analyst Kevin Cassidy lifted price target on Intel shares from $28 to $33 per share, citing an expected jump in computer demand during 2008.
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Nitty Gritty Details of the Labor Market Make Headlines, 31 August 2010
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Bernanke’s Speech on August 27 – What to Look For, 27 August 2010
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