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Stocks In Focus SG (Sembcorp Marine, Capitacommercial Trust, Perennial) – 22/04/15
Daily Bulletin | 22 April 2015
Related stocks:
40S
S51
K29
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By:

Asia Enterprises has issued a profit warning that it is expecting to report a loss in 1Q15 due to the significant slowdown in market demand for steel products during 4Q14, which dripped into the current quarter. Company expects substantially lower revenue for 1Q15 to be expected due to contraction in sales volume. The company expects to report a loss of less than $1 million in 1Q15.

Capitacommercial Trust reported a 6.5 percent rise in 1Q15 revenue, and a 6.4 percent increase in net property income to around $54 million. Distribution income to unitholders, as a result, rose 4.7 percent to $62.8 million for 1Q15. Distribution per unit also rose some 4 percent to 2.12 cents for 1Q15. Positive rent reversions and higher occupancies resulted in higher gross revenue in 1Q15 versus 1Q14, thereby resulting in higher net property income.

Karin Technology’s subsidiary, Karin Electronic Supplies, has secured the distributorship in Hong Kong for IT products by Huawei Tech Investment. Karin will, under the agreement, distribute Huawei’s full range of IT products including an impressive range of servers, storage systems, cloud computing products, and data center solutions. Company believes that this is a significant development for Karin’s brand and product portfolio.

Perennial Real Estate holdings announced a 50:50 joint venture with IJM Land to acquire and develop an approximately 1.4 million square feet freehold waterfront site into a large-scale integrated mixed-use development in Gelugor town located on the eastern coastline of Penang, Malaysia. The total development cost for the project is estimated to be over RM3 billion. The JV in Penang marks the group’s first foray into a new market which will augment its existing business in core markets of China and Singapore, which should help to diversify its investment portfolio to generate sustainable returns over the longer term.

Sembcorp Marine’s wholly owned subsidiary Sembawang Shipyard has secured a Floating Storage and Offloading (FSO) conversion contract worth $56 million from Teekay for the Gina Krog Field in the North Sea. The vessel is expected to arrive at Sembawang Shipyard in June 2015, with compleƟ on in 11 months, aŌ er which the FSO Gina Krog will head towards the Norwegian North Sea under a charter contract between Teekay and Statoil.

CapitaLand Commercial Trust  1.870 +0.010 +0.54%   
Business: Co is a real estate investment trust.

Insight: Oct-18, 9M18 gross revenue was 17.4% higher at $29... Read More
Perennial Real Estate Hldgs  0.645 +0.005 +0.78%   
Business: Co develops & owns properties in S'pore & China.

Insight: Aug-18, 1H18 revenue fell 13.1% to $33.1m mainly d... Read More
Sembcorp Marine  1.600 -0.010 -0.62%   
Business: Co is a leading global marine & offshore engineering group. [FY17 Turnover] rigs & floaters, repairs & upgrades, offshore platforms (96.4%), others activities (3.6%).

Insight: Oct-18, 9M18 revenue surged 87.2% to $4b attribute... Read More
Karin Technology Hldgs  0.335 -0.005 -1.47%   
Business: [FY18 Turnover] IT infrastructure (46.6%), Components distribution (43.2%), consumer electronics products (10.2%).

Insight: Aug-18, FY18 revenue rose 7.8% with increased reve... Read More
Asia Enterprises Hldg  -- -- --   
Business: Distributes steel products and provides value-added steel processing services. [FY17 Turnover] Steel Distributions (85.9%), provision of steel processing (13.9%), corporate (0.2%).

Insight: Aug-18, 1H18 net profit increased significantly to... Read More


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