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Stock Headliners You Need To Know
Headliners | 04 June 2015
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T09
By: Joey Ho
Articles (30) Profile

8Telecom International has entered into a conditional sale and purchase agreement to acquire 51% of the issued and paid up capital of Arete M, an information-communications services company, for a total consideration of $2.2m. The agreement will include a put option granted to 8Telecom, which gives the group the right to require each of the vendors to purchase the acquired shares for a total consideration of $2.2m, should Arete M fail to achieve the agreed net profit levels. The put option lasts 20 months from the date of completion. The acquisition is complementary and ancillary to 8Telecom’s existing business, and also part of the group’s strategy to expand its presence in Singapore.

Artivision Technologies announced a 300.2% increase in FY15 revenue to $8m, attributed to revenue contribution from the group’s contract manufacturing subsidiary, Colibri Assembly (Thailand) (CAT). Operating expenses increased by $1.4m to $6.8m due to the consolidation of CAT’s expenses and the increase in amortisation of intangible assets arising from the acquisition of CAT. Other expenses increased to $1.7m due to losses on available-for-sale financial assets. Consequently, the group remained in the red with a net loss of $5.6m.

Global Logistic Properties has signed new lease agreements totalling 146,000 square metres with 6 leading third-party logistics providers in China, of which 5 of the new leases are signed with repeat customers. The group said that repeat customers continue to drive demand for its modern logistics facilities, boosted by growing domestic consumption.

Hiap Tong Corporation announced a 44.5% fall in FY15 net profit to $2.2m. Revenue decreased 16.2% to $38.3m due to a decrease in leasing income. An oversupply of cranes in the industry led to increased competition and lower leasing rates. The impact was partially cushioned by a $1.4m increase in other income due to net gains on disposal of equipment and insurance claims. Going forward, the group expects the business environment to remain competitive due to the current over supply of cranes coupled with a general decline in demand from customers. The group’s trading business is also expected to be weak for the current financial year.

Hyflux’s wholly owned subsidiary, Hydrochem Saudi, has been awarded a contract worth US$48m from the state-owned Saline Water Conversion Corporation to design, build and supply a containerised desalination system with a total designed capacity of 30,000 cubic metres per day to the Kingdom of Saudi Arabia. The project is expected to be completed in approximately 8 months.

TT International plunged further into the red with a net loss of $86m for FY15, from a net loss of $26.5m in FY14. Revenue fell 16% to $267.4m due to soft market conditions in Indonesia and Australia. The group’s performance was further impacted by an increase in pre-operating and setting-up expenses for the Big Box megastore, as well as an increase in depreciation charge upon the project obtaining temporary occupation permit in January 2015.

WE Holdings bounced back into the black with a net profit of US$0.5m for FY15, from a net loss of US$6.6m in FY14. Revenue fell 13.7% to US$49.7m due to a pro-rate of 10 months results of a subsidiary which was disposed on 31 January 2015. Other income increased to US$5.6m from US$2.4m a year ago mainly due to a bargain purchase of an associate and proceeds received in relation to the disposal of a subsidiary. Operating expenses decreased 28% to US$9.8m as a result of tighter measures to control entertainment and travelling expenses. Going forward, the group is transforming its business to focus on resources and are exploring opportunities in the exploration, extraction, mining and trading of energy and metal resources assets management.

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.

Artivision Technologies  -- -- --   
Business: Co provides contract manufacturing of disk drive technology.

Insight: Aug-18, 1Q19, Co does not have any business follow... Read More
Hiap Tong Corp  -- -- --   
Business: Co provides hydraulic lifting and haulage services to marine, petrochemical, and construction industries.

Insight: May-19, FY19 revenue jumped 25.4% due to increase ... Read More
Hyflux  -- -- --   
Business: Provides integrated water management & environmental solutions. [FY17 Turnover] Municipal (82.5%), industrial (16%), others (1.5%).

Insight: Mar-19, 9M18 revenue sank 75% due to lower enginee... Read More
TT Int'l  -- -- --   
Business: Engaged in electrical & electronics products & operating of warehouse facilities & logistics services. [FY18 Turnover] Retail (83.6%), distribution & trading (11.9%), warehousing & logistics services (4.1%), others (0.4%).

Insight: May-19, 9M19 revenue and gross profit fell 48.7% a... Read More


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