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Headliners (China Aviation Oil, Dyna-Mac Hldgs, Genting Singapore, Oxley Hldgs)
Headliners | 07 November 2013
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By: Nicholas Tan
Articles (71) Profile

CAO Posts 65% Rise In 3Q13 Net Profit
China Aviation Oil (CAO) reported 3Q13 net profit of US$21.8m, a 65% y-o-y increase, amid higher share of profits from its associates. Comparing to 2Q13, the company’s net profit has registered a 62.9% jump of US$8.4m. The share of profits from associates excluding one-off gains from tax-related claims, was up 67.6% to US$12.1m, as compared to the same quarter in the previous year. This was mainly attributed to high refuelling volume in Pudong and Oilhub Korea Yeosu’s better performing results arising from realising gains in financial derivatives. However, the company’s revenue declined 3.1% in 3Q13 y-o-y to US$3.7b, from US$3.8b as a result of lower trading volume and product mix. Coupled with a 2-fold jump in administrative expenses, operating profit sank into the red. CAO will continue to focus on building up its jet fuel supply and trading business outside the PRC while keeping a close eye on the impact of import volume into the PRC from the recent extension of indirect tax regime to include the nation-wide transportation service industry.

Dyna-Mac Secures US$117m Worth Of New Orders
Dyna-Mac Holdings has secured 2 new fabrication orders for an aggregate amount of US$117m. The first order is for Daewoo Shipbuilding & Marine Engineering, a world premium shipbuilding and offshore contractor. It consists of the fabrication of 14 units of pre-assembled modules for the island surface drilling facilities on the artificial islands located in the Arabian Gulf and is scheduled for delivery in 3Q16. The second order was obtained from OneSubsea Malaysia Systems, a company formed by 2 subsea leaders, Cameron and Schlumberger. The order is for the fabrication of subsea piping and its supporting structures which form part of a subsea system for 1 of OneSubsea’s projects and is slated to be completed by the end of 2013. Following these order wins, Dyna-Mac’s total new contract wins for FY13 come in at $318m as of 1 November while its order backlog stands at $392m.

Genting 3Q13 Earnings Up 74.9%
Genting Singapore reported a 74.9% y-o-y increase in net profit for the quarter ending 30 September 2013. This was mainly attributed to a one-off gain after disposing off properties in the United Kingdom. Furthermore, Genting’s revenue for the quarter was up 16.4% to $776.8m from $667.1m but flat between 9M13 and 9M12. As gaming and non-gaming business segments of the company continue to perform better, revenue from Resort World Sentosa (RWS) has increased by 17.3% for the quarter as compared to 3Q12. In conjunction to the better performance, the gaming segment continues to yield higher volume in the premium player business while non-gaming segment has recorded strong average daily visitation exceeding 18k and hotel occupancy rate of 94%. Genting will continue to focus and enhance on its non-gaming business segments by launching Dolphin Island Interaction programme and add more room inventory at RWS.

Oxley To Acquire London Properties Worth £200m
Oxley Holdings’ subsidiary, Oxley Wharf, has entered into a contract with Clearstorm, Heracles and East London Haulage to purchase properties located in North Woolwich Road, London, United Kingdom (UK) worth £200m ($397.1m). The parcels of land, collectively known as Royal Wharf, measure a total gross effective area of approximately 363k sqm. Royal Wharf is a residential led mixed-use development with extensive transport links into the heart of London via the Docklands light railway, international connections from London city airport and boat links from a proposed new pier. The firm plans to develop the properties into more than 3k residential units and an array of commercial, retail, leisure as well as educational facilities. The acquisition is scheduled to be completed on 20 December. According to findings from Europe’s Centre for Economics and Business Research, London is facing a housing shortage and cheap credit scheme offered by the UK government could potentially push the average price of London home above £566k by 2018

Well trained in aspects of finance and business, Nicholas oversees the finance and manufacturing sectors at Shares Investment.

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China Aviation Oil  1.240 +0.020 +1.64%   
Business: Co engages in trading jet fuel and other petroleum products. [FY18 Turnover] Middle distillates (59.9%), other oil products (40.1%).

Insight: Feb-19, FY18 net profit increased 10.5% mainly att... Read More
Dyna-Mac Hldgs  0.102 -- --   
Business: Provides engineering, procurement & construction services to the offshore oil & gas, marine construction & others. [FY17 Turnover] Module business (96.3%), ad hoc project (4.7%).

Insight: Aug-18, 1H18 revenue surged to $59.8m mainly due t... Read More
Genting Singapore  0.905 +0.005 +0.56%   
Business: Develops, operates & mkts casinos & IRs globally, including Australia, M'sia, Philippines & UK. [FY18 Turnover] Gaming (66.1%), non-gaming (33.8%), others & invs (0.1%).

Insight: May-19, 1Q19, despite Co's non-gaming business reg... Read More
Oxley Hldgs  0.310 +0.005 +1.64%   
Business: Co is a ppty developer specialising in residential cum commercial devts.

Insight: May-19, 9M19 revenue slid 38.7% due to lower reven... Read More

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