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Stocks In Focus SG (Fortune REIT, Genting Singapore, Vicom) – 12/11/14
Daily Bulletin | 12 November 2014
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Boardroom’s revenue advanced 19.3 percent to $17.1 million for the third quarter ended 30 September, led by higher growth at its share registry and accounting and payroll services business segments. Consequently, net earnings soared 94.7 percent to $1.9 million. As the company has changed its financial year from 30 June to 31 December, FY14 will cover an 18 months period. For the 15 months, revenue was up 7.2 percent to $81.2 million while net earnings rose 3.3 percent to $9.6 million.

Bumitama Agri posted a 50.8 percent gain in revenue to IDR1.4 trillion for the third quarter ended 30 September, underpinned by increased selling price and aggregate sales volume of crude palm oil and palm kernel. Subsequently, earnings were up 69.1 percent to IDR285.4 billion. For the nine months, revenue grew 51.5 percent to IDR4.2 trillion while net earnings accelerated 86.6 percent to IDR886.6 billion.

Fortune REIT posted a 32.8 percent growth in NPI to HK$867.7 million for the nine months ended 30 September, attributable to strong rental reversions, satisfactory returns from completed asset enhancement initiatives and additional income contribution from Fortune Kingswood which was acquired in October 2013. Subsequently, distributable income advanced 26.8 percent to HK$583.6 million.

Hotung Investment Holdings’ revenue fell 24.1 percent to NT$129.7 million for the third quarter ended 30 September, mainly led by lower gains on sale of available-for-sale investments. However, total impairment losses shrank 96.5 percent, which helped to mitigate the impact on the company’s bottom line. Subsequently, net earnings came in flat at NT$75.7 million.

Genting Singapore PLC’s revenue fell 17 percent to $644.8 million for the third quarter ended 30 September, mainly attributed to a decline in gaming revenue contribution. Coupled with a $3.3 million of losses contributed from the company’s joint ventures and associate, compared to a $32.4 million profit in the corresponding period last year, net earnings sank 49.5 percent to $97.4 million. For the nine months, revenue saw a 3.3 percent rise to $2.2 billion while net earnings were down 4.7 percent to $428.2 million.

Saizen Real Estate Investment Trust’s (REIT) net property income (NPI) fell 3.7 percent to JPY675.3 million for the first quarter ended 30 September, mainly as a result of a decrease in occupancy rates and the sale of two properties. Subsequently, net earnings jumped 36.3 percent to JPY435.4 million on the back of unrealised fair value gain on interest rate swap.

Thakral Corporation registered a 15.2 percent decline in revenue to $91.3 million for the third quarter ended 30 September, due to improved contributions from the investment division. Subsequently, net losses shrank 20.7 percent to $0.9 million mainly due to a 26.3 percent reduction in finance cost.  For the nine months, revenue rose 32.9 percent to $383.2 million while net losses expanded 60.1 percent to $2.4 million.

Vicom’s revenue gained 3.5 percent to $27 million for the third quarter ended 30 September, driven by higher business volume. Consequently, net earnings improved 5.6 percent to $7.2 million. For the nine months, revenue gained 3.1 percent to $81.2 million and net earnings saw a 6.2 percent growth to $22.4 million.

Wilmar International saw a 2.7 percent decline in revenue to US$11.5 billion, mainly stemmed from lower contribution from the sale of consumer products. However, as the performance of the company’s associates registered a gain of almost four folds, net earnings edged up 1.5 percent to US$422.4 million. For the nine months, revenue was flat at US$32.3 billion and net earnings dropped 20.5 percent to US$755 million mainly due to higher overall expenses.

Bumitama Agri  0.580 +0.005 +0.87%   
Business: Co produces and trades in crude palm oil (CPO), palm kernel (PK), and related products for refineries in Indonesia.

Insight: Feb-19, FY18 revenue increased 3.1% mainly due to ... Read More
Fortune REIT  9.360 -0.25 -2.60%   
Business: Engages in the ownership and investment of retail shopping malls in Hong Kong.

Insight: Jan-19, FY18 revenue and NPI were stable at HK$1.9... Read More
Genting Singapore  0.885 -0.005 -0.56%   
Business: Develops, operates & mkts casinos & IRs globally, including Australia, M'sia, Philippines & UK. [FY18 Turnover] Gaming (66.1%), non-gaming (33.8%), others & invs (0.1%).

Insight: May-19, 1Q19, despite Co's non-gaming business reg... Read More
VICOM  7.140 +0.03 +0.42%   
Business: Co is a leading provider in technical testing and inspection svcs.

Insight: Feb-19, FY18 revenue inched up 3.1% to $100.1m due... Read More
Wilmar Int'l  3.830 +0.02 +0.52%   
Business: Co's integrated agribusiness model encompasses the entire value chain of the agricultural commodity processing biz, from origination and processing to branding, merchandising and distribution of a wide range of agricultural pdts.

Insight: May-19, 1Q19 revenue fell 6.2% to US$10.4b driven ... Read More


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