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Stocks In Focus SG (F&N, Guoccoleisure, Frasers Centrepoint) – 12/05/14
Daily Bulletin | 12 May 2014
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Fraser & Neave posted a 3.8 percent gain in revenue to $589.4 million for the second quarter ended 31 March 2014, boosted by better business performance across the board. Given the absence of contribution from its discontinued operations that was present in 2Q13 and pulled down further by a $17.7 million loss on distribution of discontinued operations, earnings sank 64.5 percent to $16.7 million. For the six-month period, revenue grew 4.4 percent to $1.2 billion, while earnings fell 96.5 percent to $173.5 million.

GuocoLeisure reported a 23.1 percent year-on-year increase in revenue to US$90.5 million in 3Q14, underpinned by higher revenue generated by the gaming, hotel and property development segment. This has led to net losses narrowing by 95.4 percent , from US$6.5 million in 3Q13 to US$0.3 million in 3Q14.

Frasers Centrepoint has fully acquired LaSalle 61 Philip Sub Trust, a unit trust incorporated in Australia. As well as a 100 percent stake of Ananke Holding, the master lessee of the LaSalle’s owned hotel known as Sofitel Sydnet Wentworth for a collective amount of $237.2 million.

Overseas Education’s revenue edged up 1.1 percent to $25.5 million for the first quarter ended 31 March 2014, mainly due to higher tuition fees. With all else remaining relatively flat, earnings grew 6.1 percent to $5.5 million.

Wee Hur Holdings’ revenue expanded 49.5 percent to $77.9 million for the first quarter ended 31 March 2014, underpinned by higher contributions from residential development projects. Along with an 11.9 percentage points jump in gross profit margin as residential development projects command higher gross profit margins, earnings was fourfold higher at $7.1 million.

Advanced Holdings registered a 19.5 percent rise in revenue to $22.1 million for the first quarter ended 31 March 2014. The stellar performance was due to an increase in sales to the petrochemicals and chemicals industry in China. Dragged down by higher distribution, marketing and administrative expenses as a result of more aggressive marketing efforts, and depreciation expense incurred as its new factories, earnings went north by 18.8 percent to $0.6 million.

TalkMed Group recorded a 13.5 percent year on year increase in revenue to $14.4 million, underpinned by increase in patient visits and revenue from patients requiring higher intensity care. Consequently, net profit increased by 24.6 percent to $9.2 billion, mainly due to higher revenue and lower operating expenses.

IFS Capital registered a 1.8 percent year on year decline in operating income to $8.6 million in 1Q14, due to lower net interest income, mitigated by higher net earned premium revenue and non interest income. Consequently, the group registered a 38 percent year-on-year dip in earnings to $870,000  underpinned by higher staff cost, higher net claims, higher allowances for net loan losses and impairment of investments.

Fraser & Neave  1.860 -- --   
Business: [FY18 Turnover] Dairies (60%), beverages (25.4%), printing & publishing (14.6%).

Insight: Nov-18, FY18 revenue increased 1.5% to $1.9b due t... Read More
Overseas Education  0.325 -- --   
Business: Co operates a private foreign system school in Singapore. [FY18 Turnover] Tuition (96.7%), registration (1.4%), school shop (0.7%), enrichment programme (0.7%), interest & other (0.5%).

Insight: Feb-19, FY18 revenue dipped 4.3% due to weaker stu... Read More
Wee Hur Hldgs  0.235 -- --   
Business: Engages in the development of real estate projects. [FY17 Turnover] Building construction (74.3%), investment property (25.7%)

Insight: Aug-18, 1H18 revenue tripled to $214.4m as a resul... Read More
Frasers Property  1.870 -0.050 -2.60%   
Business: Co operates as a real estate company. [FY18 Geographical] Australia (41.1%), Singapore (33.2%), Europe (14.1%), China (7.2%), others (4.4%).

Insight: Feb-19, 1Q19 revenue surged 44.7% and net profit j... Read More
TalkMed Group  0.525 +0.005 +0.96%   
Business: Co is a provider of medical oncology & palliative healthcare svcs in the private sector in S'pore & in the region.

Insight: Feb-19, FY18 revenue was flat at $61.3m due to low... Read More
IFS Capital  0.215 -- --   
Business: Co provides commercial, alternative, structured, and real estate financial services.

Insight: Nov-18, 9M18 net interest income grew 3.5% due to ... Read More
GL  0.825 +0.020 +2.48%   
Business: Co holds a portfolio of hotels, as well as a range of other investments. [FY18 Turnover] Hotels (92.2%), oil & gas (7%), ppty devt (0.8%).

Insight: Feb-19, 1H19 revenue rose 3.2% due to higher reven... Read More


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