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Stocks In Focus SG (City Developments, First Resources, SingTel) – 13/11/14
Daily Bulletin | 13 November 2014
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City Developments saw a 58.3 percent gain in revenue to $1.3 billion for the third quarter ended 30 September, boosted mainly by the completion of the 602-unit executive condominium, Blossom Residences. However, an expansion in overall operating expenses led by a 19.8 percent hike in other operating expenses, caused the group to recognise lower net profit growth. Subsequently, net profit was up 4.7 percent to $127.2 million. For the nine months, revenue soared 20.3 percent to $2.9 billion while net profit was down 17.1 percent to $384.7 million, led by a 92.6 percent decline in other operating income.

First Resources posted a 2.8 percent decline in revenue to US$148.8 million for the third quarter ended 30 September, underpinned by lower average selling prices. Further impacted by a 12.3 percent expansion in cost of sales, net profit dropped 16.1 percent to US$43.1 million.  For the nine months, revenue slid 1.9 percent to US$438.9 million while earnings fell 25.2 percent to $114.2 million.

Frasers Centrepoint registered a 33.2 percent growth in revenue to $2.7 billion for the year ended 30 September, contributed by overseas development property sales in Australia, China and the United Kingdom. However, the incurrence of a $119.8 million in exceptional items which mainly stemmed from an $88.1 million in transaction costs on acquisition of subsidiaries, dragged net profit down by 30.7 percent to $500.7 million. The group has declared a final dividend per share of $0.062.

SBS Transit saw a 13.6 percent rise in revenue to $248.6 million for the third quarter ended 30 September, in tandem with growth in both its bus and rail segments. Despite a 12.8 percent rise in total operating expenses, net profit pranced up 62.2 percent to $5.7 million. For the nine months, revenue posted gains of 11.6 percent to $706.5 million, accompanied with a 47.1 percent acceleration in net profit to $14 million.

Singapore Telecommunications’ revenue advanced 3.5 percent to $4.3 billion for the second quarter ended 30 September, driven by growth in its consumer and enterprise core businesses. Helped further by a 22.2 percent increase in contributions from the company’s associates and joint ventures, net profit jumped 19.3 percent to $1 billion. For the six months, revenue and net profit came in flat at $8.5 billion and $1.9 billion respectively.

First Resources  1.580 -0.020 -1.25%   
Business: Co engages in the cultivation and maintenance of oil palm plantations. [FY18 Turnover] Refinery and processing (95.5%), plantations & palm oil mill (4.5%).

Insight: Feb-19, FY18 revenue dipped 2.1% due to lower aver... Read More
City Developments  8.330 +0.03 +0.36%   
Business: Co is an international property & hotel conglomerate. [FY18 Turnover] Property development (48.4%), hotel operations (39.8%), rental properties (8.5%), others (3.3%).

Insight: May-19, 1Q19 decreased 29.5% to $746.2m compared t... Read More
Frasers Property  1.800 +0.020 +1.12%   
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
SBS Transit  3.990 +0.02 +0.50%   
Business: Public transport operator in S'pore. [FY18 Turnover] Public transport svcs (95.8%), other commercial svcs (4.2%).

Insight: Feb-19, FY18 revenue jumped 16.1% to $1.4b mainly ... Read More
Singtel  3.150 +0.03 +0.96%   
Business: Asia's leading communications group. [FY19 Turnover] Mobile Comm (31.1%), Data & Internet (19.2%), Infocomm Technology (17.5%), Sale of Eqmt (16.5%), Digital Biz (7.2%), Fixed Voice (5.2%), Pay-TV (2.1%), Leasing (0.8%), others (0.4%).

Insight: May-19, FY19 operating revenue remained flat at $1... Read More

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