Stocks In Focus SG (Libra Grp, Sarine Tech, SG Medical Grp) – 23/02/15

Libra Group via its subsidiary, Kin Xin Engineering, obtained a registration from the Building and Construction Authority (BCA) pertaining to an upgrade of the company’s BCA grading from category L5 to L6 for workhead ME15 (integrated building services). The L6 category which will expire on 1 May 2017, would enable Kin Xin to tender for an unlimited amount of government projects under the approval of BCA.

Sarine Technologies posted a 9.9 percent growth in revenue to US$18.3 million for the fourth quarter ended 31 December 2014, mainly attributable to higher sales of the recently released laser cutting system and increased recurring revenue from a broader installed base of the Galaxy product line. However, as the company has incurred a net finance expense of US$0.4 million compared to a net finance income of US$0.1 million in FY13, profit slumped 12.8 percent to US$3.9 million. The company has declared a final dividend per share of US$0.02 for the year.

Singapore Medical Group saw a 15.9 percent gain in revenue to $26.5 million for the year ended 31 December 2014, driven by higher revenue contributions from its oncology, obstetrics and gynaecology clinics. Helped further by a fall in overall expenses, in particular to a 97 percent decline in financial expenses, the group has recognised a profit of $79,000 compared to a loss of $6.4 million in the previous year.

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