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Stock Headliners You Need To Know
Headliners | 15 July 2015
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By: Tan Jia Hui
Articles (82) Profile

Singapore’s economy expanded 1.7% y-o-y in 2Q15, falling short of economists’ estimates of 2.7%. Weak manufacturing output, which contracted 4% on a y-o-y basis, extended its 2.7% drop in the previous quarter, weighing down on the economy. The construction sector expanded 2.7% y-o-y, supported by a stronger expansion in public sector construction activities. Service sector growth slowed to 3% y-o-y from 4.2% in 1Q15, as a result of slower expansion in the wholesale, retail trade and business services sectors, as well as the transportation and storage sector.

CapitaLand’s serviced residence arm, The Ascott (Ascott), has established a 50:50 joint venture company with Qatar Investment Authority (QIA) to set up a US$600m serviced residence fund with an initial focus on the Asia Pacific and Europe regions. Including the new fund, CapitaLand has 17 real estate private equity funds under management and aims to launch 6 new funds with total assets under management of up to $10b by 2020 in its efforts to grow its fund management business, which is seen as central to the active capital management strategy of the group.

CNA Group’s net loss widened 83.6% to $46.1m for FY14, while revenue fell 57.6% to $30.2m, attributable to weak property market in China and Vietnam. Additionally, the group made total impairment provisions of $31.8m following a re-assessment of its assets, dragging it deeper into the red. In a separate filing, an application has been filed in the High Court of Singapore to place the company under judicial management. CNA has also been served a statutory demand for winding-up dated 2 Jul-15 by Kele & Associates for the sum of $175,148.

Ezra Holdings recorded a 50.6% surge in net profit in 9M15 to US$51.5m, despite a net loss of US$3m for the latest quarter. 9M15 turnover inched down 2.8% to US$1b due to decreased contributions from the subsea services division and offshore support and production services division, partially offset by better performance from the marine services division. Overall, earnings for the 9-month period were lifted by a US$73.2m increase in other income mainly due to recognition of one-off gain on bargain purchase from the acquisition of subsidiaries and favourable foreign exchange conditions.

Heeton Holdings has led a consortium of developers – KSH Holdings, Lian Beng Group and Ryobi Kiso Holdings (via its 75%-owned Leeds Investment & Development) – in a second venture in UK, for the acquisition of an approximately 106,722 sqft site strategically-located within Leeds City Centre. Heeton will have an effective interest of 55% in the project while the other partners will have effective interests of 15% each. The consortium is performing extensive studies on the site, which is approved for over 1m sqft of mixed-use space, before finalising its development plan.

Keppel Corporation’s wholly-owned unit, Keppel FELS, has secured an order for a high specification liftboat worth US$85m from Crystal Heights Holdings, which is scheduled for delivery in 4Q17.

Oxley Holdings’ wholly-owned subsidiary, Oxley Deanston, has entered into an agreement to acquire a property in London from Iron Mountain (UK) Services for GBP35m. The property, known as Units 1 – 8 Deanston Wharf, Canning Town, London, has a leasehold tenure of 999 years from 24 Jun-87 and has a total land area of 22,830 sqm. The group intends to redevelop the property into a residential development comprising private units and affordable units.

Vallianz Holdings has secured a time charter valued at up to US$300m with an existing customer for the supply of 2 self-elevating platforms which will be used to perform well servicing for offshore platforms and well structures. Both vessels are expected to be deployed from 3Q15 for a period of 5 years, with the customer having a 2-year extension option.

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.

CapitaLand  3.530 +0.02 +0.57%   
Business: Co develops, owns, and manages real estate properties. [FY18 Geographical] China (41.2%), S'pore (38.5%), Europe & others (18.6%), Vietnam & Others (1.7%).

Insight: Apr-19, 1Q19 revenue fell 23.8% while net profit d... Read More
CNA Group  -- -- --   
Business: Specialist in the provision, design, implementation & maintenance of open, integrated building & facility management solutions.

Insight: Mar-17, Co has been placed under judicial manageme... Read More
Ezra Hldgs  -- -- --   
Business: Co is a provider of integrated offshore solutions to the oil & gas industry. [FY16 Turnover] Marine Services (68.9%), offshore support and production services (25.7%), subsea services (5.4%).

Insight: Oct-17, The US Bankruptcy Court approved the appli... Read More
Heeton Hldgs  0.440 -- --   
Business: Co is engaged in the ppty devt & invs activities in S'pore.

Insight: May-19, 1Q19 revenue slid 6.1% due to decreased sa... Read More
KSH Hldgs  0.465 +0.005 +1.09%   
Business: [FY19 Turnover] Construction (97.1%), property development and investment (2.9%).

Insight: May-19, FY19 revenue rose 51.4% largely due to sig... Read More
Lian Beng Group  0.500 -0.010 -1.96%   
Business: A construction co with integrated civil engineering & support service capabilities. [FY18 Turnover] Construction (43.6%), mfg of concrete (24.4%), ppty development (14.5%), dormitory (9.1%), investment holding (8.3%), engineering & leasing of machinery (0.1%).

Insight: Apr-19, 9M19 revenue dipped 1% due to decreased re... Read More
Keppel Corp  6.080 -0.02 -0.33%   
Business: [FY18 Turnover] Infrastructure (44.1%), offshore & marine (O&M) (31.4%), property (22.5%), investments (2%).

Insight: Apr-19, 1Q19 revenue rose 4.1% underpinned by high... Read More
Oxley Hldgs  0.305 -0.005 -1.61%   
Business: Co is a ppty developer specialising in residential cum commercial devts.

Insight: May-19, 9M19 revenue slid 38.7% due to lower reven... Read More


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