Forget Password?
  1. Indices
  2. Commodities
  3. Currencies
Straits Times 3,183.00 -20.93 -0.65%
Hang Seng 26,790.24 -334.31 -1.23%
Dow Jones 27,076.82 -142.70 -0.52%
Shanghai Composite 2,978.12 -52.64 -1.74%
Daily Bulletin – 02/02/09
Daily Bulletin | 02 February 2009
Related stocks:

US Sell-Off Marks Worst January On Record
The worst January on record for US stocks drew to a close with another widespread sell-off on Friday after data showed the biggest contraction in US output since 1982. The decline took the S&P 500’s loss for the month following its worst annual sell-off since the Great Depression to 8.6%, worse than the 7.7% fall in the benchmark index during January 1970. The S&P 500 closed down 2.3% at 825.88, the Dow 1.8% lower at 8,000.86 and the Nasdaq Composite off 2.1% at 1,476.42.

Contel Corporation Sells Its Entire Business To Good Idea
Contel Corporation has inked a sale and purchase agreement to dispose of its entire business to Good Idea for US$22.5m. Part of the proceeds will be used to pay off its existing US$8m bond liability and other miscellaneous costs, resulting in a net cash gain of US$12.9m. Following the deal, the company shall be delisted from the SGX. The company has cited poor business conditions and difficulties in getting refinancing as the major sources for its exit.

CDL Hospitality Posts 26.5% Revenue Growth For FY08
CDL Hospitality Trusts has reported an increase of 26.5% in gross revenues for FY2008 amounting to $114.7m. Total income available for distribution for the year jumped 33.9% to $92m, resulting in an increase of 2.6% in distributions per stapled security to $0.0473 for 2H08. The strong operating performance was from both organic growth across portfolio and a full year’s contribution from the Novotel Clarke Quay.

Company Profit Warnings And Updates
AVJennings expects to report an estimated after tax loss of $10m for 1H09 ended 31 December 2008 compared to an after tax profit of $6.1m for 1H08, mainly due to an unrealised loss of $3.5m on interest rate hedging contracts.

Jadason Enterprises Chairman, Sung Poon Chung, has taken ill and will be taking medical leave for three months. CEO Fung Chi Wai will assume the Chairman’s duties in his absence.

EnGro Corporation expects to report a net loss for its 4Q08 results ended 31 December 2008 due to impairment losses and fair value adjustments on the company’s investments. FY08 results are expected to remain profitable though.

G.K. Goh Holdings expects to report losses for both 4Q08 and FY08 ended 31 December 2008 due to impairment write downs in the fair value of its long term investments.

Transcu Group expects to incur net losses for 3Q09 ended 31 December 2008 due to one-off, non-cash expenses relating to its reverse take-over exercise as well as impairment charge on goodwill.

CDL Hospitality Trusts  1.630 -- --   
Business: A stapled group comprising CDL Hospitality REIT and CDL Hospitality Business Trust.

Insight: Apr-19, 1Q19 gross revenue and NPI dropped 10.6% a... Read More
AVJennings  -- -- --   

Insight: ... Read More
Jadason Enterprises  0.035 +0.001 +2.94%   
Business: Distributes machines and materials for the printed circuit board and semi-conductor industries. [FY18 Turnover] Manufacturing & support services (64.6%), equipment & supplies (35.4%).

Insight: May-19, 1Q19 revenue slid 21.7% as both of Co's tw... Read More
EnGro Corp  -- -- --   
Business: Co manufactures and sells cement and building materials, and specialty polymers. [FY18 Turnover] Cement and building materials (81.9%), specialty polymer (15.8%), food & beverage (1.3%).

Insight: Feb-19, FY18 revenue rose 1.8% to $144.3m due o pr... Read More
GK Goh Hldgs  0.830 +0.010 +1.22%   
Business: Co is an investment company owning operating businesses and a diverse portfolio of investments including optic fibre networks in Europe, aged care in Australia and a real estate investment trust operating in Japan.

Insight: Feb-19, FY18 total revenue slid 16.4% because of $... Read More

Join The Conversation
The Shares Investment editorial team welcomes constructive feedback on our coverage and content. We would also be delighted to answer any questions on the above article. Leave us a comment below, and we'll get back to you shortly!

All Rights Reserved. Pioneers & Leaders (Publishers) Pte Ltd. Best viewed with Mozilla Firefox 3.5 and above.