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Stocks In Focus SG (HPH Trust, Jardine C&C, Singapore Airlines) – 09/02/15
Daily Bulletin | 09 February 2015
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Cache Logistics Trust proposed the acquisition of three warehouse properties located in Australia for their valuations of AUD70 million (approximately $73.4 million). The freehold properties have an aggregate net lettable area of 56,601 square metres and are located in the major cities of Melbourne, Sydney and Brisbane in Australia. The trust intends to finance the acquisition through bank borrowings. The properties will be fully leased for a weighted average lease to expiry of 9.7 years with fixed annual escalations of 3 to 3.5 percent.

COSCO Corporation (Singapore) via its subsidiary, COSCO (Zhoushan) Shipyard Co, secured a contract to build a 152,000 deadweight tonnage (DWT) shuttle tanker. Separately, an option has been exercised for a contract which was previously awarded to the group’s subsidiary, COSCO (Dalian) Shipyard Co, involving the building of a 21,000 DWT module carrier. Both vessels are scheduled for delivery in 1Q17.

Hutchison Port Holdings Trust’s revenue moved up 2.2 percent to HK$3.2 billion for the fourth quarter ended 31 December 2014, driven mainly by higher container throughput at Yantian International Container Terminals. However, due to a HK$19 billion impairment of goodwill, the trust sank into a net loss of HK$18.6 billion. For the full year, revenue grew 1.9 percent to HK$12.6 billion while the company posted a net loss of HK$17.2 billion. The trust declared a distribution per unit of HK$0.223 for the six-month period ended 31 December.

Jardine Cycle & Carriage (JCC) via its subsidiary, Platinum Victory, acquired 8 million shares in Refrigeration Electrical Engineering Corporation (REE), a diversified business group, for US$12.3 million. Post acquisition, JCC’s shareholding in REE will be lifted to 21.6 percent where REE will be an associated company to JCC. The acquisition will be funded by internal resources.

LCD Global Investments posted a 6.4 percent decline in revenue to $14 million for the second quarter ended 31 December 2014, amid weaker demand for contributions across all business segments except hotel. However, a multi-fold gain registered from a joint venture company in Xuzhou, China, the company returned to the black and recognised earnings of $10 million. For the six months, revenue dipped 3.6 percent to $26.6 million while the company booked earnings of $6.7 million.

Singapore Airlines booked a 5.8 percent gain in revenue to $4.1 billion for the third quarter ended 31 December 2014, underpinned by higher yield on passenger revenue despite a dip in traffic. Subsequently, earnings soared in excess of three-fold and came in at $202.6 million. For the nine months, revenue was flat at $11.7 billion while earnings dipped 1.3 percent to $328.3 million.

Soilbuild Construction Group has been awarded a contract worth $25.9 million for the design and build of an 8-storey single-user e-commerce hub at Tampines North. The construction is expected to last approximately 17 months.

TEHO International entered into a memorandum of understanding with Hotel Okura Co for the proposed appointment of Okura as the operator of a hotel in Cambodia which will be constructed and owned by TEHO Cambodia.

Cache Logistics Trust  0.715 +0.005 +0.70%   
Business: Principally invest in income-producing real estate used for logistics purposes in Asia-Pacific, as well as real estate-related assets.

Insight: Oct-18, 9M18 gross revenue and net property income... Read More
COSCO Shipping Int'l (S)  0.350 -- --   
Business: Engaged in shipping and other logistics services. [FY17 Turnover] Ship repair (71.9%), ship repair and marine related activities (26.6%), others (1.5%).

Insight: Aug-18, 1H18 turnover increased by 263.3% mainly d... Read More
Hutchison Port Hldgs Trust US  0.265 +0.005 +1.92%   
Business: Co invests in, develops, operates and manages deep-water container ports in the Pearl River Delta.

Insight: Oct-18, 9M18 revenue dipped 2.4% as combined conta... Read More
Jardine Cycle & Carriage  35.990 +0.98 +2.80%   
Business: Co is mainly engaged in the mfr, assembly, distribution, and retailing of motor vehicles and motorcycles in S'pore, M'sia, Indonesia, and Vietnam.

Insight: Nov-18, 9M18 revenue rose 9.9% supported by strong... Read More
AF Global  -- -- --   
Business: [FY17 Turnover] Hotel & service residence (90.6%), leisure & others (9.3%), property (0.1%).

Insight: Nov-18, 9M18 revenue increased by 1% to $42m suppo... Read More
Singapore Airlines  9.370 -0.02 -0.21%   
Business: Co provides air transportation services to destinations spanning a network spread over 6 continents. [FY18 Turnover] Airline ops (82.7%), cargo ops (14%), engrg svcs (3.1%), others (0.2%).

Insight: Nov-18, 1H19 revenue edged up 2.5% to $7.9b. Passe... Read More
Soilbuild Construction Group  0.084 +0.004 +5.00%   
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
Teho Int'l  -- -- --   
Business: Co is a supplier of rigging and mooring eqmt as well as related svcs to customers mainly in the marine & offshore oil & gas industries. [FY17 Turnover] Marine, offshore oil & gas (82.7%), property development (17.3%).

Insight: Feb-18, 1H18 net loss widen to $2.4m mainly due to... Read More


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