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Stocks In Focus SG (Frasers Centrepoint, Parkway Life Reit, OUE) – 04/08/14
Daily Bulletin | 04 August 2014
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COSCO Corporation (Singapore) reported a 8.8 percent year-on-year increase in revenue to $1.1 billion in 2Q14, underpinned by an increase in shipyard revenue. As a result of lower margin at shipyard operations, gross profit fell 4 percent year-on-year to $92 million.  However, due to higher sale value of scrap materials, a foreign exchange and fair value gains registered on forward currency contracts, net profit rose 18.8 percent year-on-year to $14.3 million.

Frasers Centrepoint announced the development of Northpoint City, an integrated development located in the Nee Soon district. This will include the development of the largest shopping mall in northern Northern Singapore along with North Park Residences comprising of 920 residential units. Northpoint City will be directly connected to Yishun MRT via an underpass.

KLW Holdings secured a new Singapore residential project valued at $3 million for the supply and installation of doors for a private residential development. The contract is awarded by Keong Hong Construction with date of completion by 24 July 2016.

Parkway Life Real Estate Investment Trust recorded a 12.2 percent growth in gross revenue to $25.3 million in 2Q14, primarily due to rental income contributed from the Japan properties acquired in 2H13 and 1Q14. As a result, net property income rose 12 percent to $23.6 million and subsequently, distributable income to unit holders and distribution per unit grew 10.2 percent each, to $17.5 million and $0.029 respectively in 2Q14. For the six-month period, distribution per unit increased 8.5 percent to $0.0572.

OUE’s 2Q14 revenue fell 10.6 percent year-on-year to $100.2 million, underpinned by lower contribution from the hospitality and development property divisions. Net profit for the quarter dropped 69.6 percent to $4.4 million due to lower contribution from Mandarin Gallery and Mandarin Orchard Singapore held via the group’s equity interest in OUE H-TRUST, partially offset by lower finance expenses.

R H Energy’s revenue fell 7.9 percent year-on-year to US$5.9 million in 2Q14, underpinned mainly by fewer deliveries of completed equipment integration projects and a decrease in the recognition of revenue from consultancy and inspection services as most of the existing projects are near completion. Consequently, due to lower revenue, gross profit fell 6.6 percent year-on-year to US$1.5 million in 2Q14. Coupled with higher financing costs incurred from the utilisation of financial facilities for working capital requirements, net profit fell 34 percent year-on-year to US$1.1 million.

United Industrial Corporationreported a 10.4 percent year-on-year increase in revenue to $167.7 million in 2Q14, underpinned by higher trading property sales and contribution from its hotel operations. Consequently, as a result of an increase in cost of goods sold, gross profits rose 7.3 percent year-on-year to $71 million. Net profit came in 26.8 percent higher at $171.5 million mainly attributed to lower profit attributable to non-controlling interests.


							
Parkway Life REIT  2.910 -- --   
Business: Invs REIT specialising in healthcare ppties.

Insight: Jul-18, 1H18 gross revenue rose 2.3% to $55.9m lar... Read More
OUE  1.520 -0.010 -0.65%   
Business: An integrated property developer with real estate portfolio located in prime locations in the US & Asia. [FY18 Turnover] Inv ppties (43.7%), hospitality (37.7%), development ppties (10.5%), healthcare (4.6%), fund management & others (3.5%).

Insight: May-19, 1Q19 revenue rose 1.2% due to higher contr... Read More
OUE Hospitality Trust  0.675 +0.005 +0.75%   
Business: A stapled group comprising OUE H-REIT & OUE H-Biz Trust with a portfolio primarily focused in the hospitality &/or hospitality-related purposes.

Insight: May-19, 1Q19 revenue slid 3% due to lower revenue ... Read More
Frasers Property  1.800 -- --   
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
United Industrial Corp  3.040 -0.04 -1.30%   
Business: Core business in property development & investment. [FY17 Turnover] Property trading (58.8%), property investment (21.8%), hotel ops (11.5%), tech (7.7%), others (0.2%).

Insight: Nov-18, 9M18 revenue slumped 51.4% to $500m mainly... Read More
KLW Hldgs  0.004 +0.001 +33.33%   
Business: Engaged in the manufacture and distribution of engineered doors. [FY18 Turnover] Door business (99.7%), property business (0.3%).

Insight: Feb-19, 9M19 revenue fell 9.6% due to lower export... Read More
COSCO Shipping Int'l (S)  0.300 -- --   
Business: Engaged in shipping and other logistics services. [FY18 Turnover] Logistics (69.7%), property management (11.9%), Shipping (9.5%), ship repair and marine related activities (8.9%).

Insight: Mar-19, FY18 revenue jumped 340% to $163.7m and gr... Read More


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