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Headliners (Global Tech, Keppel Corp, Albedo, Wilton Resources)
Headliners | 19 December 2013
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By: Shane Goh
Articles (99) Profile

Global Tech FY13’s Earnings Return To Black
For the year ended 30 Sep-13, Global Tech (Holdings) saw a 9.9% jump in revenue to HK$110.5m from HK$100.6m last year. This was attributed to the provision of repair services on the back of an expanding product portfolio. Losses from operations expanded further, mainly due to an increase in both administrative and other operating expenses by HK$25.8m, which were partially offset by a HK$1.2m decrease in selling and distribution expenses. Despite losses incurred from operations in FY13, the company was able to recognise a net profit of HK$12.9m, as compared to a HK$20.6m loss in FY12, which was in light of the one-off written back of provision for taxation previously made during the year. The Hong Kong economy expanded moderately, while major advanced economies around the world remained generally sluggish which have impacted the operating results of Global Tech generated in FY13. In view of this, the company has taken further steps to tighten controls on its business and financial management, and will remain vigilant for economic headwinds ahead.

Keppel Secures $150m In Contracts
Keppel Corporation’s Keppel Offshore & Marine (Keppel O&M) via its subsidiaries, Keppel Shipyard and Keppel Nantong Shipyard, has secured 5 contracts worth $150m. The first 2 contracts from Armada C7 and Apache Energy, scheduled to be completed in 3Q14 and 1Q14 respectively, involve mainly the upgrade of a floating production storage and offloading vessel. The third contract involving the fabrication of an external turret for a floating storage and offloading vessel, is awarded by EMAS AMC, and is scheduled to be delivered in 2Q14. The remaining 2 contracts were secured with Smit Shipping Singapore to undertake the construction of 2 submersible barges, Giant 5 and Giant 6, are slated to be completed in end 2014 and early 2015 respectively. With the latest 5 contracts secured by Keppel O&M, this represents almost $7b in new orders year-to-date for Keppel Corporation.

Albedo To Buy More Iskandar Land In $1.9b RTO
Further to the reverse takeover (RTO) announcement made in Sep-13 where Albedo agreed to buy 7 parcels of land in Iskandar, Johor Bahru, Malaysia, the firm has consented to purchase an additional 6 parcels of land, measuring approximately 520 acres. The total purchase consideration for all 13 land parcels is $1.9b, representing a 16.6% discount to the aggregate market valuation of all the land parcels, more than double the original consideration of $774m for the initial 7 land parcels. The 13 parcels of land includes a prime waterfront commercial site called Lido Waterfront, within a 10-minute drive from the Johor Causeway and walking distance to the popular and upcoming Country Garden @ Danga Bay residential project. Upon completion of the RTO, Albedo will be transformed into a major property developer in Malaysia. The additional 6 land parcels will bring Albedo’s Iskandar land bank to 13 parcels of about 1,182.6 acres.

Hartawan Becomes Wilton Resources Corporation Through RTO
Following a successful $300m RTO, Hartawan Holdings has changed its name to Wilton Resources Corporation. Wilton will retain Hartawan’s stock code – 5F7.SI – on the Singapore Exchange. The RTO transforms the firm from its property leasing/management and hospitality businesses into a gold exploration and mining company in Indonesia. Wilton owns 2 concession blocks in the West Java province containing proved and probable ore reserves estimated at 557,000 ounces (17,333 kilograms) of gold and measured and indicated resources estimated at 656,000 ounces of gold as at 31 May-13. Wilton intends to continually carry out exploration works such as drilling, to further discover and upgrade its gold resources estimates.

Currently pursuing his Chartered Financial Analyst qualification, Shane provides coverage on the property, consumer and environmental sectors at Shares Investment.

Please click here for more information about this author.

Guoan Int'l  -- -- --   
Business: Co sells & distributes cellular handsets & related accessory products, as well as provide repair services for telecom products. [FY18 Turnover] Provision of repair services (59%), trdg of telecom pdts (39.6%), money lending business (1.1%), investments in financial assets (0.3%).

Insight: Mar-19, FY18 revenue slid 5.4% as revenue generate... Read More
Keppel Corp  6.570 -0.02 -0.30%   
Business: [FY18 Turnover] Infrastructure (44.1%), offshore & marine (O&M) (31.4%), property (22.5%), investments (2%).

Insight: Apr-19, 1Q19 revenue rose 4.1% underpinned by high... Read More
Wilton Resources Corp  -- -- --   
Business: Co is engaged in the business of exploration and mining of gold, and production of gold dore.

Insight: May-19, Co processed a further 4,000 tonnes of ore... Read More

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