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Stocks In Focus SG (CapitaLand, GSH, Keppel Land) – 10/11/14
Daily Bulletin | 10 November 2014
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CapitaLand posted a 4.3 percent fall in revenue to $919.9 million for the third quarter ended 30 September, mainly due to lower value of units handed over from development projects held by subsidiaries in CapitaLand China. However, net profit was up 1.3 percent to $130 million, helped by reductions in cost of sales and finance costs. For the nine months, revenue fell 7.5 percent to $2.4 billion and earnings gained 7.7 percent to $751.5 million.

Frencken Group’s revenue edged up 1.1 percent to $120.9 million for the third quarter ended 30 September, led by higher contribution from its mechatronics division.  However, an 84.7 percent decline in other income dragged earnings down by 66.5 percent to $2.2 million. For the nine months, revenue posted a 6.6 percent gain in revenue to $357.5 million while earnings sank 23.9 percent to $10.6 million.

GSH Corporation saw a 37.7 percent jump in revenue to $31.8 million for the third quarter ended 30 September, due to contributions made from its hospitality segment which was absent in the corresponding quarter last year. However, as expenses outpaced the growth in revenue, the company sank into losses of $6.3 million. For the nine months, revenue was up 7.7 percent to $92.7 million while earnings gained multiple folds to $64.1 million led by negative goodwill arising from the company’s acquisition.

Keppel Land proposed the disposal of its 30 percent interests in two 30-year leasehold properties known as S25 and T25, that are located at the Serangoon and Tampines districts in Singapore. The sale price for the properties of S25 and T25 are $262.8 million and $162 million respectively. Keppel Land is expected to receive net proceeds of $96 million and realise a gain of $65.9 million.

Pharmesis International saw a 5.5 percent growth in revenue to Rmb17.7 million due to higher sales registered from its non-prescribed drug, ErDing granules. However, an overall expansion in operating expenses, selling and distribution and administrative costs, led the company to incur a loss of Rmb0.1 million. For the nine months, revenue slipped 2.9 percent to Rmb45.7 million while losses shrank 45.7 percent to Rmb0.7 million helped by a larger gain in finance income.

Singapore Reinsurance Corporation’s revenue came in flat at $36 million for the third quarter ended 30 September. Helped by a 31.4 percent increase in net investment income from the company’s reinsurance operations, earnings accelerated 17.1 percent to $3.7 million. For the nine months, revenue was up 16.4 percent to $110.4 million while earnings posted a gain of 10.1 percent to $13.5 million.

Trek 2000 International’s revenue accelerated in excess of 100 percent to US$35.6 million for the third quarter ended 30 September, led by higher contribution from its interactive consumer solutions division. Subsequently, earnings pranced up multiple folds to US$1 million. For the nine months, revenue saw a 55.4 percent growth to US$77 million accompanied by a 160.8 percent gain in earnings to US$1.7 million.

Venture Corporation’s revenue edged up 1.7 percent to $598.7 million for the third quarter ended 30 September, led by growth in contribution from its test and measurement/medical/others segment. Subsequently, earnings gained 3.1 percent to $36.1 million. For the nine months, revenue rose 4.9 percent to $1.8 billion while earnings grew 7.9 percent to $100.5 million.

CapitaLand  3.090 -0.03 -0.96%   
Business: Co develops, owns, and manages real estate properties. [FY17 Geographical] S'pore (38.8%), China (38.5%), Europe & others (11.9%), Other Asia (10.8%).

Insight: Aug-18, Co and joint venture partner City Developm... Read More
Venture Corp  14.550 -0.12 -0.82%   
Business: Co provides technology services, products and solutions. [FY17 Turnover] Electronic services provider (76.6%), retail store solution & industrial (20%), components technology (3.4%).

Insight: Aug-18, 1H18 revenue fell marginally by 2.6% to $1... 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
Singapore Reinsurance Corp  -- -- --   
Business: Co operates as a general reinsurance company. [FY17 Geographical] Singapore (36%), Malaysia (35.8%), China (14.3%), others (13.9%).

Insight: Aug-18, 1H18 net earned premium from reinsurance o... Read More
Frencken Group  -- -- --   
Business: Co operates as a capital and consumer equipment service provider worldwide. [FY17 Turnover] Mechatronics (72.5%), integrated manufacturing services (35.3%).

Insight: May-18, 1Q18 revenue increased by 3.2% underpinned... Read More


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