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Stocks In Focus SG (Ellipsiz, Riverstone, Tigerair) – 05/05/15
Daily Bulletin | 05 May 2015
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Ellipsiz doubled its net profit in 3Q15 to $1.2 million. The 123 percent jump in net profit happened despite a 22 percent drop in revenue to $25.6 million. For 9M15, however, the company’s net profit fell 42 percent to $4.7 million while revenue fell 21 percent to $85.1 million. The company stated that the decline in revenue was attributable to the 45 percent drop in revenue of the distribution and services (DSS) business, after the divestment of facilities and communication activities.

Nera Telecommunications reported a 33.8 percent drop in net profit to $3 million as telecommunications sales fell and payment solutions margins shrank for 1Q15. The drags offset the company’s revenue growth 3.6 percent to $42.1 million. Nera secured approximately $57.6 million in order intake due to significant orders received from the telecommunications business. Nera believes that the growth in the network infrastructure products and services will continue as a result of rapid increase in internet traffic, web services, mobile data and security threats.

Riverstone Holdings reported a 68.6 percent jump in 1Q15 net profit to RM27 million as revenue increased 44.8 percent to RM127.2 million driven by higher demand for its rubber gloves. This was made possible with the completion of the firm’s first phase of capacity expansion to expand annual production capacity to 4.2 billion gloves. While its second expansion is underway for completion by end-2015, the company acknowledged the increasingly competitive landscape for the glove manufacturing sector and continues to remain cautious about fluctuations in commodity prices and US currency. The group stays optimistic about growth prospects.

Sing Holdings warned that it will report a loss for 1Q15, attributable to higher sales and marketing expenses incurred for the group’s development properties, without corresponding revenue recognition from sales of units in Waterwoods. Further details will be disclosed when the company announces its unaudited financial statements for the quarter.

Tiger Airways Holdings posted a loss of $18.8 million for 4Q15 while revenue inched 5 percent to $172.2 million. For FY15, losses accumulated to $264.2 million, its third consecutive financial year to record losses. The group revised its aircraft depreciation policy following a review of its fleet plan, re-assessing the maintenance provisions for leased aircraft.  The group believes that surplus capacity remains in the industry, and that will have downward pressure on yields. Still, it expects to make headway in its turnaround effort by optimising fleet size and improving yields and loads. The group will also benefit progressively from lower oil prices as the proportion of older fuel hedging contracts undertaken before the fall in price decreases.

Nera Telecommunications  0.270 -0.005 -1.82%   
Business: Co engages in sales, distributn & servicing of transmission networks, satellite comm, & IT networks.

Insight: May-19, 1Q19 revenue slid 11.4% with both the netw... Read More
Riverstone Hldgs  0.925 +0.010 +1.09%   
Business: Glove manufacturer specialised in production of nitrile & natural rubber clean room gloves. [FY18 Geographical] M'sia (92.4%), Thailand (3.6%), China (3.3%), others (0.7%).

Insight: May-19, 1Q19 revenue rose 14.6% to RM240.5m due to... Read More
Sing Hldgs  -- -- --   
Business: Co is a S'pore ppty dvlpr.

Insight: Feb-19, FY18 revenue jumped 84.8% to $76.2m due to... Read More

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