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Headliners (Cordlife Group, KS Energy, Jaya Holdings, Fraser and Neave (F&N))
Headliners | 30 August 2013
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By: Wilfred Ng
Articles (6) Profile

Cordlife’s FY13 Records 94.7% Jump In Net Profit To $13.5m
Cordlife Group announced that the group recorded a 94.7% y-o-y surge in its net profit of $13.5m in FY13 from $6.9m in FY12. The surge is mainly due to an increase in revenue of 14.6% to $34.7m and an improvement of net profit margin excluding one-off items to 34%.  The group maintains a healthy balance sheet with a strong cash position of $23.3m and a low gearing ratio of 0.08. The group realised a compound annual growth rate (CAGR) of 15.7% and 12.7% for its increased profitability including and excluding one-off items respectively, and a 43.9% y-o-y growth in earnings per share to $0.058. A report by Deloitte & Touche Financial Advisory Services which expects the private cord blood banking segment’s incremental cord blood storage growth is projected at a CAGR of 9% from 2011 to 2015.

KS Energy To Set Up Joint Venture With PDSI Worth Around US$130m
KS Energy announced a joint venture (JV) with PT Pertamina Drilling Services Indonesia (PDSI) to own and operate drilling rigs in Indonesia. The new JV company intends to take over the contracts held by the existing joint operations and tender for new contracts in Indonesia, thereby further reinforce the group’s position in the Indonesian oil and gas market. The jointly operated drilling rigs are valued at around US$130m. KS Energy and PDSI currently jointly operate two high specification land rigs for a major oil company under a contract worth approximately US$98m and an offshore jack-up rig in the West Madura oilfield under a contract worth US$87.6m. The partnership between PDSI and KS Energy will release many opportunities for the company to participate in the drilling activities in the country.

Jaya Wins US$20m Contract In East Africa
Leading offshore energy services group, Jaya Holdings, announced that it has signed a contract to charter its new build DP2 platform supply vessel, named Jaya Vigilant, for a long term operation in the Indian Ocean, offshore Mozambique. The contract, which will span 2 years, has a value of more than US$20m including the charterer’s options. The work scope includes remotely operated vehicle (ROV) support, survey work and core sampling in water depths up to 2km and others. Notably, with the delivery of Jaya Vigilant in Sep-13, Jaya would have 7 new builds remaining its current shipyard order book. 2 of these new builds slated for delivery from Jaya’s yard in Batam are purpose build ROV support vessels with large subsea cranes and diesel electric propulsion, which will offer even greater opportunities for its clients.

F&N To List Property Arm And Unlock Shareholder Value
In a move to break up one of Singapore’s largest conglomerate, Fraser and Neave (F&N) proposed to list its property arm, Frasers Centrepoint (FC) by undertaking a dividend in-specie distribution of FC’s shares to F&N shareholders. The group will distribute 2 shares of FC for every F&N share held at zero cost and FC will be listed on the Main Board of the Singapore Exchange by introduction, targeted for Nov- or Dec-13. TCC Assets, holding 61.7% of F&N shares, intends to vote in favour of the in-specie distribution. Lim Ee Seng, CEO of FC said that the listing will enhance the company’s profile and allow it to pursue independent strategies. FC may also consider the establishment of a hospitality real estate investment trust to further unlock value. The in-specie distribution and listing exercise is an effective way to release value to F&N shareholders and it provides a distinction between F&N’s food and beverage and properties businesses, thereby paving the way for a more focused growth approach for both sectors.

Cordlife Group  0.415 -0.005 -1.19%   
Business: Co is in the business of cord lining banking and holds the largest market share of private cord blood banks in Singapore, Indonesia and the Philippines.

Insight: Feb-19, 18M18 revenue increased 13% to $12.1.m mai... Read More
KS Energy  -- -- --   
Business: An integrated oilfield supply & services providers. [FY18 Turnover] Drilling (98.4%), engineering (1.6%).

Insight: May-19, 1Q19 revenue slid 58.7% due to decreased r... Read More
Fraser & Neave  1.720 +0.010 +0.58%   
Business: [FY18 Turnover] Dairies (60%), beverages (25.4%), printing & publishing (14.6%).

Insight: Apr-19, 1H19 revenue inched 1.9% to $931.8m underp... Read More

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