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Stocks In Focus SG (Singapore GDP, Keppel Corp, Spackman Entertainment Grp) – 02/01/15
Daily Bulletin | 02 January 2015
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By:

The Singapore economy grew 1.5 percent year-on-year in 4Q14, because of a shrinkage in the manufacturing sector. A median forecast by Bloomberg estimated gross domestic product to come in at 2.2 percent. Manufacturing contracted by 2 percent year-on-year, and an annualised 5.8 percent quarter-on-quarter, due to a decline in transport engineering, electronics and general manufacturing output. The 1.5 percent growth in the last quarter means a 2.8 percent growth in the economy for 2014. The government is expecting a growth in economy of 2 to 4 percent this year.

Abterra has entered into a non-binding memorandum of understanding with Full Winner Industrial (Overseas) in relation to acquiring Smart Harmony Investment, which indirectly owns a commercial property in Beijing. The acquisition is part of the company’s effort to diversify its business into the property investment, holding and development business, also presenting Abterra an opportunity to enter into China’s property market.

China Minzhong Food Corporation (CMFC) was informed by China Minzhong Holdings (CMZ) that CMZ is looking to acquire 52.9 percent of CMFC. CMZ is solely owned by CMFC’s executive director and chief financial officer Siek Wei Ting. The 347 million shares are priced at $1.20 per share. As of current, CMZ only owns 0.8 percent share in CMFC.

Japfa has signed a strategic five-year milk supply agreement with Inner Mongolia Yili Industrial Group Co, China’s second largest dairy producer by revenue. Under the deal, Japfa will supply to Yili 500 tons of raw milk daily from 2015 to 2019. This contract came hot on the heels of a recent off-take contract to supply China Mengniu Dairy Company, China’s leading dairy producer, with 100 tons of milk daily for 2015. Japfa’s farms in China have a milk production capacity of more than 750 tons per day, and are expected to increase to 1,000 tons daily by the end of 2015.

Keppel Corporation has secured a US$705 million contract from Golar Gimi Corporation, to convert a second moss liquefied natural gas carrier into a floating liquefaction vessel. This has been Keppel’s second conversion contract for Golar Gimi Corporation, with its first conversion of the moss liquefied natural gas carrier  “HILLI”. Construction will commence upon notice to proceed, expected to be no later than November 2015, and will be completed around 33 months after the notice to proceed is received.

Spackman Entertainment Group released news of acquiring 51.4 percent stake in UAA Korea Co, a Korean talent management company managing renowned artists. Spackman’s subsidiary, Spackman Entertainment Group (HK), had exercised its US$2 million ($2.6 million) worth of convertible notes in UAA, purchased on 17 January and 12 May 2014. UAA reported a net profit of KRW97 million ($0.1 million) based on its consolidated financial statements for FY13. Coupled with the recent merger of UAA and United Pictures Co, Spackman will have a well-established proprietary brand for its future film presenting and distribution endeavors.

Abterra  -- -- --   
Business: Co operates as a supply chain manager in the natural resources business in Singapore, China, Macau, India, Indonesia, and Australia.

Insight: Aug-18, 1H18, Co reported revenue of $104.9m mainl... Read More
Japfa  0.650 -- --   
Business: Co is an agri food company that produces multiple types of protein foods. It is headquarterd in Singapore and has operations in China, India, Myanmar and Vietnam.

Insight: Feb-19, FY18 revenue rose 10.8% mainly driven by h... Read More
Keppel Corp  6.220 -0.03 -0.48%   
Business: [FY18 Turnover] Infrastructure (44.1%), offshore & marine (O&M) (31.4%), property (22.5%), investments (2%).

Insight: Jan-19, FY18 revenue was largely unchanged at $6b,... Read More
Spackman Entertainment Group  0.024 -- --   
Business: A Korean theatrical film production group. [FY17 Turnover] Film production (41.9%), distribution of films (42.8%), others (15.3%).

Insight: May-18, 1Q18 revenue increased 30.9% to US$10.5m m... Read More


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