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Stocks In Focus SG (Sembcorp Marine, Capitacommercial Trust, Perennial) – 22/04/15
Daily Bulletin | 22 April 2015
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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  2.080 -- --   
Business: Co is a real estate investment trust in the office space.

Insight: Apr-19, 1Q19 gross revenue and NPI rose 3.5% and 3... Read More
Perennial Real Estate Hldgs  0.555 -0.015 -2.63%   
Business: Co develops & owns properties in S'pore & China.

Insight: Feb-19, FY18 revenue rose 5% to $78.3m mainly due ... Read More
Sembcorp Marine  1.290 -0.050 -3.73%   
Business: Co is a leading global marine & offshore engineering group. [FY18 Turnover] rigs & floaters, repairs & upgrades, offshore platforms (98.8%), ship chartering (1%), others activities (0.2%).

Insight: May-19, 1Q19 revenue fell 31.3% to $810.6m due to ... Read More
Karin Technology Hldgs  -- -- --   
Business: [FY18 Turnover] IT infrastructure (46.6%), Components distribution (43.2%), consumer electronics products (10.2%).

Insight: Feb-19, 1H19 revenue inched up 0.6% attributable t... Read More
Asia Enterprises Hldg  -- -- --   
Business: Distributes steel products and provides value-added steel processing services. [FY18 Turnover] Steel Distributions (90.8%), provision of steel processing (9.2%).

Insight: Jan-19, FY18 revenue increased 23% to $37.8m attri... Read More

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