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Stocks In Focus SG (AP Oil International, Falcon Energy Group, Low Keng Huat (S’pore) ) – 12/12/14
Daily Bulletin | 12 December 2014
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AP Oil International announced its decision to divest its 38.2 percent stake in Systematic Laundry & Uniform Services through a sale and purchase agreement with Systematic Holdings, for a cash consideration of $2 million and $0.3 million subsequently in a separate tranche. Systematic Laundry is a locally incorporated associate of AP Oil International, dealing in the laundry and dry cleaning business.

Datapulse Technology has reported a higher profit of $1.5 million for the 1Q15. The company recorded a 10.3 percent fall in revenue from $10.6 million to $9.5 million this quarter, mainly due to a reduction of revenue from its DVD media storage products and services, but was partially offset by an increase in sales of Blu Ray products and services. A 16.5 percent fall in total operating expenses to $8 million helped the company to achieve the 57 percent jump in net profit, despite lower business activities and sales.

Falcon Energy Group disclosed that its subsidiary Energian will make a voluntary conditional cash offer to acquire all the shares of CH Offshore, an offshore service provider in the oil and gas industry, at a price of $0.495 per share. The offer will allow Falcon Energy Group statutory control of the acquired company, and make it a subsidiary to unlock synergistic value while maintaining its listing on the Singapore Exchange.

Hwa Hong Corporation announced that its subsidiary Vantagepro Investment has acquired 70 percent of shares in Capital Eagle. The corporation will indirectly have ownership of Capital Eagle’s recent acquisition of freehold properties at the Eagle House, London. The acquisition will allow the corporation to add the UK-based investment into their portfolio, and is believed to complement Hwa Hong’s other investments in the country.

Low Keng Huat (Singapore) reported an increase in its nine month net profit by 101.7 percent to $83.5 million. The company boasted a 700 percent jump in revenue to $459.3 million for the first nine months of the fiscal year, due to an increase in its construction and development revenue. Gross profit margin fell from 36.1 percent previously to 21.6 percent in the current period as there was higher cost of sales. However the higher revenue allowed the company a higher net profit, despite an increase in costs generally because of an increase in its operations.

Sitra Holdings (International) announced on behalf of its subsidiary E-Timberhub, an acceptance of terms to a binding letter of intent from Timor Capital Partners Asia to develop a hotel in Timor Leste in a project valued at US$17.5 million. The project will be undertaken by Timor Capital Partners Asia. Under the letter of intent, the proposal is to have Sitra Dove Construction & Logistics, an investee company 18 percent-owned by Sitra Holdings, to carry out building, back-of-home and fitting out works, while E-Timberhub will be responsible for planning offshore logistical arrangements and advice.

WE Holdings disclosed an acquisition of 3 million shares of Jubilee Industries Holdings for a cash consideration of $0.2 million. The company now owns 97.4 million shares, representing 28.8 percent of Jubilee’s capital as of 10 December. The acquisition was funded by internal resources and is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the company for the current financial year of the company ending 31 March 2015.

AP Oil Int'l  -- -- --   
Business: Co manufactures and sells a range of lubricating oils and fluids, and specialty chemicals for industrial, automotive, and marine applications. [FY18 Turnover] Manufacturing (39.9%), trading (48.2%), franchising (11.9%).

Insight: Feb-19, FY18 revenue decreased 15% mainly due to l... Read More
Falcon Energy Group  -- -- --   
Business: Leading regional player in the offshore marine, & oil & gas sectors. [FY17 Turnover] Oilfield and drilling services (52.4%), marine (40.1%), oilfield projects (7.5%).

Insight: May-18, Keppel FELS has served termination notice ... Read More
Hwa Hong Corp  -- -- --   
Business: [FY18 Turnover] Rental (83.5%), investment (16.5%).

Insight: Apr-19, 1Q19 revenue inched up 1.6% due to increas... Read More
Low Keng Huat (S)  -- -- --   
Business: [FY19 Turnover] Development (78.8%), hotels (11%), investments (10.2%).

Insight: Apr-19, FY19 revenue jumped 135.9% due to increase... Read More
Sitra Hldgs (Int'l)  0.017 +0.003 +21.43%   
Business: Distributor of quality wood-based products & lifestyle outdoor furniture. [FY17 Turnover] Wood-based products (96%), lifestyle outdoor furniture and others (4%).

Insight: Feb-18, FY17 revenue declined by 5.3% to $16.7m ma... Read More

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