Dear Readers, due to the coming Chinese New Year holiday. The next issue of Shares Investment (582) will be published on 26 February 2018.

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Headliners | 21 May 2015
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By: Joey Ho
Articles (30) Profile

Boustead Projects has been awarded a $34m contract to design and build an integrated commercial and logistics facility located at Sungei Kadut Industrial Estate for World Furnishing Hub. The facility is expected to be completed in 3Q16 and the contract will increase the group’s order book backlog to $296m.

Centurion Corporation’s indirect wholly-owned subsidiary Westlite Dormitory’s tender bid to operate a student hostel located at 1A Short Street, has been accepted by the Singapore Land Authority. The property, which will be renovated to house 400 students with commercial spaces for businesses, is a 10-storey building with a lease term of 8 years. The property is expected to be operational in the second half of this year.

City Developments announced a 2.8% increase in 1Q15 net profit to $123m. Revenue increased 11% to $814.9m due to higher contributions from the property development and hotel operations segments. In light of the subdued domestic property market and its persistent headwinds, the group has been embarking on accelerating its diversification strategy by expanding its real estate business overseas and by developing an unlisted fund management business.

Indiabulls Properties Investment Trust has announced revenue of $102.7m for FY15, an increase of 9.5% from the previous year. Property expenses decreased 11.5% due to lower advertisement expenses as well as legal and professional fees. Finance costs increased 19.2% offsetting a large portion of earnings. As a result, the trust registered a net loss of $3m.

Genting Singapore PLC reported a 22.9% and 72.6% fall in revenue and net profit to $639.2m and $62.7m respectively. A 26.4% decline in gaming revenue weighed on the group’s performance, as its premium gaming business continues to be under pressure, with no respite expected in the medium term. Management noted that the year ahead will be challenging and will take a cautious approach in granting credit. The group is optimistic on its non-gaming business, as more visitors are expected to visit the country to join in the SG50 celebrations.

Midas Holdings’ subsidiary Jilin Midas Aluminium Industries Co has secured a series of contracts worth Rmb328.9m for the supply of high-speed train car body components in the People’s Republic of China. Slated for delivery in 2015, the contracts are expected to contribute positively to Midas’ financial performance for FY15.

Olam International posted a net profit of $194.3m for 9M15, a 66.3% fall year-on-year. For the latest quarter ended 31 March 2015, the group also recorded a steep 92.1% drop in net profit, attributed to a loss of $97.2m incurred from the buyback of all outstanding US$750m 6.75% bonds due 2018. The buyback is expected to generate interest savings of $55m to $60m per annum over the next 3 years. Turnover was down 10.7% in the quarter, underpinned by a drop in sales volume, as the firm reduced volumes or exited from lower-margin businesses, and instead focused on growing its prioritised platforms.

Singapore Airlines announced a 2.3% growth in FY15 net profit to $367.9m, backed by savings from lower oil prices and an increase in passenger carriage and yields. Revenue edged up 2.1% to $15.6b, attributed to revenue from airline operations gaining 3.3%. The group warns that market conditions remain challenging amid an uncertain global economic outlook. Cost savings from lower fuel prices in the current quarter could be limited due to fuel hedges already locked in.

Singapore Telecommunications FY15 net profit grew 3.5% to $3.8b, driven by revenue growth from the group’s consumer segment and higher associates’ contributions. Revenue from group consumer segment increased 1.4% while share of associates’ post-tax profits grew 19.7%. Going forward, the group expects increased capital expenditure in the current year, reflecting multi-year investments to support the transformation in its core business.

Equipped with a bachelor in banking and finance, Joey covers the finance, technology and healthcare industry in Singapore.

Please click here for more information about this author.

Boustead Projects  0.880 -0.005 -0.56%   
Business: Engages in the development of real estate projects. [FY17 Turnover] Design & build (85.5%), leasing (14.5%).

Insight: Feb-18, 9M18 revenue was 24% lower mainly due to l... Read More
Centurion Corp  0.515 -0.005 -0.96%   
Business: Co engages in the accommodation and optical storage media manufacturing businesses. [FY16 Turnover] Workers accommodation (71.3%), students accommodation (26.8%), optical (1.9%).

Insight: Nov-17, 9M17 revenue increased 21.1% largely attri... Read More
City Developments  12.600 -0.19 -1.49%   
Business: Co is an international property & hotel conglomerate. [FY16 Turnover] Ppty devt (44.7%), hotel ops (41.8%) rental ppties (9.4%), others (4.1%).

Insight: Nov-17, 9M17 revenue dipped 8.7% leading to a 14.2... Read More
Genting Singapore PLC  1.290 -0.010 -0.77%   
Business: Develops, operates & mkts casinos & IRs globally, including Australia, M'sia, Philippines & UK. [FY16 Turnover] Gaming (71.3%), non-gaming (28.6%), others & invs (0.1%).

Insight: Nov-17, 9M17 revenue grew 8.5% to $1.8b driven by ... Read More
Midas Hldgs  -- -- --   
Business: Manufacturer of aluminium alloy extrusion products for China's rail transportation sector. [FY16 Turnover] Aluminium alloy (99.3%), polyethylene pipe (0.7%).

Insight: Jan-18, Co announced that its JV company, CRRC Nan... Read More
Olam Int'l  2.240 -0.05 -2.18%   
Business: Co is engaged in sourcing, processing, packaging and merchandising agricultural products. [FY16 Turnover] Confectionery & beverage ingredients (37.5%), food staples & packaged foods (29.7%), edible nuts, spices & vegetable ingredients (19.3%), industrial raw materials, ag logistics & infrastructure (13.5%).

Insight: Nov-17, 9M17 revenue rose 31.5% on the back of hig... Read More
Singapore Airlines  11.160 -0.13 -1.15%   
Business: Co provides air transportation services to destinations spanning a network spread over 6 continents. [FY17 Turnover] Airline ops (83.8%), cargo ops (13.1%), engrg svcs (2.6%), others (0.5%).

Insight: Nov-17, 1H18 net profit 32.2% to $425m as revenue ... Read More
Singtel  3.350 -0.02 -0.59%   
Business: Asia's leading communications group. [FY17 Turnover] Mobile Comm (35.5%), Data & Internet (19.9%), Infocomm Technology (17.6%), Sale of Eqmt (11.4%), National Telephone (6.4%), digital biz (3.4%), Int'l Telephone (2.9%), Pay-TV (1.8%), others (1.1%).

Insight: Feb-18, 9M18 operating revenue rose by 6.5% to $13... Read More

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