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Stock Headliners You Need To Know
Headliners | 07 May 2015
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By: Tan Jia Hui
Articles (82) Profile

Far East Orchard has acquired a portfolio of 4 student accommodation properties in Shieldfield, Newcastle upon Tyne, UK for GBP40.9m ($83m), marking its move into the nation’s student housing space in a bid to push deeper into Europe and diversify its property development portfolio. The freehold properties are within walking distance of educational institutions such as Northumbria University, Newcastle University, Newcastle University Business School, Newcastle College and comprise 2 land sites for purpose-built student housing to be developed by 2018, an existing student accommodation and another undergoing development for completion by 2H15.

mm2 Asia saw a 85.4% jump in FY15 net profit to $5.1m, on the back of a 50.7% growth in turnover to $24.3m. The better performance was attributable to growth in both of the firm’s production and distribution arm. In the coming year, the group has plans to undertake 2 to 3 projects in Hong Kong, Taiwan and China, making further expansions out of the Singapore and Malaysia region.

Nera Telecommunications’ 1Q15 turnover inched up 3.6% to $42.1m, underpinned by improved contribution from its infocomm business segment. However, net profit fell 33.8% to $3m, due to a decline in gross margin (1Q15: 33.5%, 1Q14: 38.2%), partially attributable to a low margin project in the payment solutions segment. In the quarter, the group secured $57.6m in order intakes, due to significant orders received from the telecommunications business.

Noble Group’s net profit dropped 30% to US$106.6m for 1Q15, while revenue for the quarter fell 7.3% to US$16.6b despite an increase in the group’s tonnage from 39.3m tonnes to 65.8m tonnes, as a result of lower commodity prices. Underperformance of 2 of its major operational associates Yancoal Australia and Noble Agri further compounded the situation.

OSIM International registered a 13.2% drop in revenue to $149.8m for 1Q15, while net profit fell 53.1% to $13.5m. The weaker performance comes on the back of a slowdown in its core massage products business across geographical markets. The group has remained optimistic, viewing the drop in business as temporary and expects sales recovery with the successful launches of newer products.

Oversea-Chinese Banking Corporation posted a 10.5% increase in net profit to $993m for 1Q15, boosted by contributions from its Hong Kong subsidiary. The results were driven by diversified earnings growth from all of its key markets; Singapore, Malaysia, Indonesia and Greater China after including the consolidation of OCBC Wing Hang Bank, which became a subsidiary in 3Q14. Net interest income expanded 14.9% mainly from robust asset growth, while net interest margin (NIM) fell from 1.7% to 1.6% due to lower loans to deposit ratio and weaker income from the low yielding money market gapping activities.

Riverstone Holdingsreported a 68.6% jump in 1Q15 net profit to RM27m, as demand rose for its rubber gloves. Revenue increased 44.8% to RM127.2m, driven by the expanded annual production capacity to 4.2b gloves by end-2014. While its second expansion is underway for completion by end-2015, the company acknowledges the increasingly competitive landscape for the glove manufacturing sector and continues to remain cautious about fluctuations in commodity prices and US dollar.

Tiger Airways posted a 5% rise in total revenue in 4Q15, while net loss narrowed 80.3% to $18.8m, attributable to better performance from its Singapore operations. For FY15, net loss accumulated to $264.2m and the firm also recorded its third consecutive financial year with pre-tax losses. The group believes that surplus capacity remains in the industry, exerting downward pressure on yields, but expects to make headway in its turnaround effort through fleet size optimisation as well as making improvements in yields and loads.

Armed with a bachelor in mathematics, Jia Hui keeps close tabs on the oil & gas, and manufacturing sectors in Singapore.

Please click here for more information about this author.

Far East Orchard  1.160 -0.020 -1.69%   
Business: Co engages in the investment and development of real estate properties.

Insight: Feb-19, FY18 net profit jumped 51.4% to $32.9m, li... Read More
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
Oversea-Chinese Banking Corp  10.630 -0.06 -0.56%   
Business: [FY18 Turnover] Global corporate/investment banking (35%), global consumer/private banking (34.8%), OCBC Wing Hang (11.5%), insurance (11%), global treasury & mkts (7.7%).

Insight: May-19, 1Q19 total income rose 14.7% driven by str... 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

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