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Stocks In Focus SG (Keppel Land, SPH REIT, TEHO) – 14/10/14
Daily Bulletin | 14 October 2014
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Duty Free International posted a 4.9 percent gain in revenue to RM136.7 million for the second quarter ended 31 August 2014, on the back of higher contribution from the duty free goods and non-dutiable merchandise trade segment. There was a 37.4 percent downward normalisation of inventories purchase and materials consumed compared to the corresponding quarter last year. Consequently, earnings soared in excess of 60 percent to RM12 million.

Keppel Land proposed the expansion of the SM-KL project to strengthen its commercial portfolio in the Philippines. The project would be expanded via a phase two development, comprising a 42-storey office building and retail podium to be completed by 2019 and 2016 respectively. The development of phase two will offer a net leasable area of over 89,000 square metres (sqm) of office space and 50,000 sqm retail space. The total expected construction costs for phase two is $336 million.

SPH REIT registered a 2.6 percent year-on-year rise in gross revenue for the fourth quarter ended 31 August 2014. This was attributed to higher rental income generated from the trust’s two properties, Paragon and The Clementi Mall. Consequently, distributable amount to unitholders climbed 7.3 percent to $34.9 million. For the period from 24 July 2013 (listing date) to 31 August 2014, gross revenue saw a modest gain of 2.8 percent to $222.9 million while distributable amount to unitholders climbed 5.3 percent to $150.3 million. The trust declared a distribution per unit of $0.0139 for the quarter.

TEHO International entered into a non-binding letter of intent to fully acquire the share capital in Liha Shipservice and Store Rijnmond for an undisclosed amount as at the time of the announcement. The proposed acquisition will complement the core business of the group where the target companies are engaged in the supply of rigging and mooring products. Further details will be set out after the signing of a definitive sale and purchase agreement.

Trek 2000 International has sold its 45 percent stake in Tracer Technology and 20 percent stake in Tracer Technology (Suzhou) for $0.8 million. The divestment is a part of the group’s restructuring efforts to streamline its core business.

Duty Free Int'l  0.155 -- --   
Business: Co engages primarily in the trading of duty free goods & non-dutiable merchandise.

Insight: Jan-19, 3Q19 revenue increased 19.3% to RM25.4m ma... Read More
SPH REIT  1.090 -- --   
Business: S'pore-based REIT with a portfolio of assets primarily for retail purposes in Asia-Pacific.

Insight: Apr-19, 1H19 gross revenue rose 4.5% to $111.9m du... Read More
Teho Int'l  0.012 -0.001 -7.69%   
Business: Co is a supplier of rigging and mooring eqmt as well as related svcs to customers mainly in the marine & offshore oil & gas industries. [FY18 Turnover] Marine, offshore oil & gas (73.4%), property development (26.6%).

Insight: Feb-19, 1H19 revenue fell marginally by 0.4% to $2... Read More
Trek 2000 Int'l  -- -- --   
Business: Co is engaged in the ownership of a portfolio of intellectual property [FY17 Turnover] Interactive consumer solutions (97.5%), customised solutions (2.3%), licensing (0.2%).

Insight: Aug-18, 1H18 revenue fell 69% to US$22.2m due to u... Read More

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