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Stocks In Focus SG (OSIM Int’l, SIA Engineering, Starburst Hldgs) – 04/02/15
Daily Bulletin | 04 February 2015
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Singapore’s Purchasing Managers’ Index (PMI) came in at 49.9 for January 2015. Despite showing a contraction in manufacturing activities (a reading of below 50 indicates a contraction while a reading above 50 represents an expansion), the index has made gentle improvements compared to the previous month’s reading of 49.6.  The contraction in PMI was due to a continue slide in new orders and inventory which was led by the softer manufacturing data from China and the US.

OSIM International posted flattish revenue and earnings of $177.7 million and $27.4 million respectively for the fourth quarter ended 31 December 2014, mainly attributed to a weaker economic environment. For the full year, revenue was up 6.7 percent to $691.1 million, while earnings were flat at $102.2 million mainly as a result of higher employee benefits expenses. The company has a declared a final dividend per share of $0.02.

SIA Engineering Co saw a 6.5 percent decline in turnover to $265.3 million for the third quarter ended 31 December 2014, as work content was lower with fewer heavy checks. Despite a 6.8 percent reduction in operating expenses, earnings was down 23.5 percent to $46.3 million as a result of lower contributions from the company’s joint venture and associate companies. For the nine months, revenue was down 2.6 percent to $844.6 million and earnings dropped 29.2 percent to $141.9 million.

Sim Lian Group proposed the acquisition of a freehold commercial property located at 59 Albany Highway, Perth, Australia, for AUD72.8 million. Apart from office units, the Grade A two-tower commercial office complex also comes with retail units and two upper levels of carpark space. The property is located four kilometres East from the Perth central business district (CBD) and is well-connected by a major expressway and bus services into the CBD. The group intends to finance the acquisition via a combination of internal resources and bank borrowings.

Soilbuild Construction Group has been awarded a contract worth $26 million by the Housing & Development Board. The contracts comprise the design and build of upgrading projects at Paya Lebar Way / Aljunied Road Blocks 120 to 124, 125 to 126, and Tampines Street 42 Blocks 444 to 460. The construction period is expected to last for approximately 18 months.

Starburst Holdings has been awarded a contract worth $11.8 million for the Marina One project at Marina Way in Singapore. Under the contract, the company’s unit, Starburst Engineering will undertake the supply, fabrication, delivery, installation and warranty of facade steelworks. The contract also comes with an option worth $1.7 million for additional works.  The project will commence in February 2015 and is expected to be complete in August 2016.



SIA Engineering Co  2.540 -0.03 -1.17%   
Business: A leading aircraft maintenance, repair and overhaul (MRO) company providing total maintenance solutions to a client base of international airlines. [FY18 Turnover] Airframe and Line Maintenance (97.5%), Engine and Component (2.5%).

Insight: May-19, FY19 revenue was 6.8% lower at $1b largely... Read More
Soilbuild Construction Group  0.060 +0.008 +15.38%   
Business: Co provides general construction services to various projects in the private and public sectors. [FY17 Geographical] Singapore (89.4%), Myanmar (10.6%).

Insight: Jul-18, 1H18 revenue fell 22.3% to $89.3m mainly d... Read More
Starburst Hldgs  -- -- --   
Business: Co engages in the design and engineering of firearms-training facilities. [FY18 Turnover] Maintenance services & others (94.4%), firearm shooting ranges (5.6%).

Insight: May-19, 1Q19 revenue remained flat at $1.6b which ... Read More

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