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Stocks In Focus SG (Achieva, Keppel Corp, SIA Engineering) – 05/11/14
Daily Bulletin | 05 November 2014
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Achieva posted a modest 2.7 percent gain in revenue to $21.1 million for the third quarter ended 30 September as a result of higher sales volume. Coupled with an overall reduction in operating expenses, the company’s losses shrank 71.6 percent to $0.3 million. For the nine months, revenue dropped 8.4 percent to $62.8 million while losses declined 15.4 percent to $2.4 million.

Advanced Integrated Manufacturing Corporation registered a 22.4 percent growth in revenue to US$19.3 million for the third quarter ended 30 September. Most expenses remained tamed except for a 58.7 percent rise in finance cost as the company has undertaken loans to finance investment properties. Nevertheless, earnings pranced up more than two folds to US$0.9 million. For the nine months, revenue moved up 11.1 percent to US$55 million accompanied by a 73.5 percent surge in earnings to US$1.6 million.

BreadTalk Group’s revenue rose 8.3 percent to $154.5 million for the third quarter ended 30 September, driven by growth across all its business divisions. Subsequently, earnings surged 15.6 percent to $3.9 million. For the nine months, revenue was up 11.6 percent to $434.8 million while earnings registered a lower growth of 3.8 percent to $8.3 million due to an 11.8 percent expansion in distribution and selling expenses.

Jardine Cycle & Carriage’s revenue declined 6.2 percent to US$14.1 billion for the nine months ended 30 September, which was attributed to unfavourable foreign exchange movements. Consequently, earnings decreased 4.2 percent to US$646.4 million. For the third quarter, revenue dropped 0.7 percent to US$4,610 million and earnings fell 4 percent US$213.2 million.

Keppel Corporation inked an agreement with Petronas LNG to purchase up to 1 million tonnes of liquefied natural gas per annum for ten years. The move is expected to bolster Keppel’s portfolio of natural gas, and allow the company to provide competitive gas supply options to its customers in Singapore.

OUE’s revenue spiked down 10.8 percent to $106.3 million for the third quarter ended 30 September, mainly due to lower contribution from its hospitality and property development divisions. However, as overall expenses incurred by the company decelerated sharply and share of results of associates and jointly controlled entity rose significantly, earnings grew 23.1 percent to $16.5 million. For the nine months, revenue was down 6.9 percent to $313.4 million while earnings registered a multi-fold growth to $966.5 million mainly due to the disposal of subsidiaries.

Perennial China Retail Trust posted a net property income of $2.1 million for the third quarter ended 30 September, compared to expenses of $2 million in the corresponding period last year. Subsequently, net earnings accelerated 13.2 percent to $7.3 million. For the nine months, net property income came in at $3.1 million (9M13: -$3.4 million) and earnings more than doubled to $29.1 million. The trust has declared a distribution per unit of $0.0095 for the quarter.

Serial System saw a 31.6 percent jump in revenue to US$293.1 million for the third quarter ended 30 September, mainly attributable to higher business growth in the North Asia markets. Consequently, net profit pranced up in excess of 50 percent to US$4.3 million. For the nine-month period, revenue grew 28 percent to US$768.4 million and earnings gained 40.4 percent to US$11.4 million.

SIA Engineering Company posted a 3 percent fall in revenue to $285.2 million for the second quarter ended 30 September, led by lower contribution from airframe and component overhaul revenue. Additionally, reduced contributions from its associates and joint ventures further affected the company’s profitability, as earnings tanked 40.7 percent to $42.1 million. For the six months, revenue was flat at $579.3 million and earnings sank 31.7 percent to $95.6 million.

Valuetronics Holdings’ revenue stood flat at HK$627.6 million for the second quarter ended 30 September, underpinned by higher contribution from its industrial and commercial electronics segment while partially offset by reductions in consumer and electronics segment. Consequently, earnings fell 8.4 percent to HK$36.3 million. For the six months, revenue remained flat at HK$1.3 billion and earnings slid 3.7 percent to HK$70.2 million.

Jardine Cycle & Carriage  35.640 +0.40 +1.14%   
Business: Co is mainly engaged in the mfr, assembly, distribution, and retailing of motor vehicles and motorcycles in S'pore, M'sia, Indonesia, and Vietnam.

Insight: Nov-18, 9M18 revenue rose 9.9% supported by strong... Read More
Keppel Corp  6.120 -- --   
Business: [FY17 Turnover] Infrastructure (37%), offshore & marine (O&M) (30.2%), property (29.9%), investments (2.9%).

Insight: Oct-18, 9M18 revenue dipped 3% as revenue recognit... Read More
OUE  1.500 -- --   
Business: An integrated property developer with real estate portfolio located in prime locations in the US & Asia. [FY17 Turnover] Inv ppties (35.9%), hospitality (29.2%), development ppties (27.8%), healthcare (4.5%) dividend & others (2.6%).

Insight: Nov-18, 9M18 revenue slid 15.2% mainly due to shar... Read More
Serial System  -- -- --   
Business: Co engages in the business of semiconductor components distribution and consumer appliances. [FY17 Turnover] Electronic components distribution (96%), consumer products & others (4%).

Insight: Nov-18, 9M18 revenue rose 8.8% to US$1.2b due to h... Read More
SIA Engineering Co  2.330 +0.02 +0.87%   
Business: A leading aircraft maintenance, repair and overhaul (MRO) company providing total maintenance solutions to a client base of international airlines. [FY18 Turnover] Airframe and Line Maintenance (97.5%), Engine and Component (2.5%).

Insight: Nov-18, 1H19 revenue was 7% lower at $509m mainly ... Read More
Valuetronics Hldgs  0.690 +0.005 +0.73%   
Business: Provides integrated electronics manufacturing services. [FY18 Turnover] Industrial & commercial electronics (51%), consumer electronics (49%).

Insight: Aug-18, 1Q19 revenue edged up 1.2% to HK$704m attr... Read More


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