Singapore Daily Bulletin – 07/02/13

RELATED QUOTES

SymbolPriceChange
D05.SI15.27+0.06
M01.SI0.910.00
5EN.SI0.235-0.005

DBS Posts Record Profit In FY12
DBS Group Holdings posted a record earnings of $3.8 billion, up 26 percent from $3 billion for its full year ended 31 December 2012, which included divestment gains of $450 million. Excluding the gains from the partial divestment of its stake in the Bank of Philippines Islands, net profit rose 11 percent from the previous year to $3.4 billion. The improvement was attributed to total income hitting over $8 billion and lower allowances. Return on equity for 2012 before the one-off rose to 11.2 percent, the best in five years. However, on a quarterly basis, its 4Q12 core net profit of $760 million increased only 4 percent from $731 million a year ago as margins fell faster than expected and the lagging effect of China’s turnaround. Its net profit for the quarter was 11 percent lower than 3Q12, partly reflecting the seasonal trends.

Significance: DBS’ asset quality continues to be strong with liquidity buffers in place to protect against contingencies and support business growth. It is also well positioned to comply with the Basel III capital and liquidity requirements where DBS sits comfortably above the benchmark.

Metro Reports Three-Fold Jump In 9M13 Earnings
Metro Holdings saw its earnings leaped more than three-fold to $49.9 million for its nine months ended 31 December 2012 while revenue for the period inched up 0.5 percent to $139.5 million. For 3Q13, earnings soared 43.4 percent to $15.3 million despite revenue decreasing marginally by 2 percent to $50.6 million, dragged by the rental decline after the disposal of Metro City Beijing although its retail division performed well. Metro attributes its profits gains to a balloon payment of interest income from loan notes held by its property division, which have been liquidated in early 4Q13. Going forward, Metro will be focusing on the development of its joint venture projects: a first-of-its-kind upscale urban community development project in Nanchang, China with Top Spring, and a signature residential condominium at Prince Charles Crescent in Singapore with the Wing Tai group and UE E&C.

Significance: Despite the swell in its net earnings, Metro cautioned that its 4Q13 performance would be lower than last year’s due to the absence of the gain on disposal for Metro City Beijing in 4Q12. Furthermore, it expects more headwinds from volatile market conditions and foreign currency translation adjustments.

Midas’ JV Unit Wins Rmb710m Metro Contract
Midas Holdings announced that its joint venture unit, Nanjing SR Puzhen Rail Transport Company has won a Rmb710 million metro contract by Nanjing Metro Company. The contract encompasses the supply of 26 train sets (1 train set = 4 train cars), or 104 train cars, for the Ningtian Intercity Line Phase 1 and is slated for delivery in 2014 to 2015, ahead of the 2014 Youth Olympic Games in Nanjing. Patrick Chew, chief executive officer of Midas notes that Nanjing SR Puzhen Rail Transport has made a good start to the year, having secured two contracts over the past four weeks to boost its project portfolio to over Rmb1 billion.

Significance: Given its 32.5-percent-stake in the joint venture unit, the contract win of Rmb710 million will contribute positively to Midas’ 2014 and 2015 financial years. The company will also be able to ride on the continued opportunities from the PRC rail transportation industry.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
  • Apple Said to Plan IPhone for Japan With Tap-to-Pay for Subways Bloomberg - 37 minutes ago

    A future iPhone will include technology called FeliCa, a mobile tap-to-pay standard in Japan developed by Sony Corp., according to people familiar with the matter. The FeliCa chip will let customers in Japan store their public bus and train passes … More »

  • Asian Stock Futures Mixed Before Jackson Hole With Oil Above $47 Bloomberg - 44 minutes ago

    Contracts on equity gauges in Japan and South Korea retreated, while those on indexes in Australia and Hong Kong foreshadowed gains following a second day of losses in U.S. shares. Japan’s currency headed for its first weekly drop versus the dollar … More »

  • Air New Zealand flies to record profit
    Air New Zealand flies to record profit AFP News - 1 hour 31 minutes ago

    Air New Zealand announced an operating windfall Friday, posting a record NZ$463 million (US338.01 million) after-tax profit, up 42 percent, as the country benefitted from a tourist boom. It was "the best result ever" in the 76-year history of the … More »

  • European, US equities dip awaiting Fed
    European, US equities dip awaiting Fed AFP News - 1 hour 40 minutes ago

    US and European stocks slid Thursday in choppy trade as investors awaited a key speech by Federal Reserve Chair Janet Yellen that many hope will shed light on the Fed's policy stance. With global economic growth in a slump and the US economy not … More »

  • Dollar General, Dollar Tree report weak sales growth
    Dollar General, Dollar Tree report weak sales growth Associated Press - 1 hour 51 minutes ago

    Discount-store rivals Dollar General and Dollar Tree reported weaker-than-expected sales figures Thursday, as struggling lower-income shoppers spent less at their stores. Shares of both companies fell ... … More »

  • Euro rises as markets tread water before Yellen speech AFP - 2 hours 5 minutes ago

    The euro rose slightly on Thursday against the dollar, the yen and the British pound while investors awaited Friday's keynote address from US Fed chief Janet Yellen. Towards 2100 GMT, the euro was at $1.1281, ... … More »

  • Vegas stadium backers down to 2 top sites for Raiders
    Vegas stadium backers down to 2 top sites for Raiders Associated Press - 2 hours 18 minutes ago

    Backers of a proposed NFL stadium said they've whittled their list to two sites just west of the Las Vegas Strip and refuse to accept any less than $750 million in public funding toward the project, which ... … More »

  • Oil up on U.S.-Iran scare, dollar; Saudi output stance cuts gains
    Oil up on U.S.-Iran scare, dollar; Saudi output stance cuts gains Reuters - 2 hours 28 minutes ago

    Oil prices rose 1 percent on Thursday on U.S.-Iran military tensions in the Gulf and speculation the dollar will fall on a monetary policy speech due from the U.S. Federal Reserve chair. The market, however, gave back some gains after an interview … More »

  • Health care sector pulls stock market lower again
    Health care sector pulls stock market lower again Associated Press - 2 hours 33 minutes ago

    Stocks fell in light trading for a second day on Thursday as investors sifted through a mix of earnings reports. The major indexes wavered between small gains and losses in the morning, then moved lower ... … More »

  • Antrim reports 2Q loss Associated Press - 2 hours 35 minutes ago

    On a per-share basis, the Calgary, Alberta-based company said it had a loss of 1 cent. Earnings, adjusted for asset impairment costs, came to less than 1 cent on a per-share basis. In the final minutes ... … More »

  • Oil up on U.S.-Iran scare, dlr; Saudi output stance cuts gains
    Oil up on U.S.-Iran scare, dlr; Saudi output stance cuts gains Reuters - 2 hours 36 minutes ago

    Oil prices rose 1 percent on Thursday on U.S.-Iran military tensions in the Gulf and speculation the dollar will fall on a monetary policy speech due from the U.S. Federal Reserve chair. The market, however, gave back some gains after an interview … More »

  • How the Dow Jones industrial average fared on Thursday Associated Press - 2 hours 42 minutes ago

    Stocks closed lower on Thursday, led by declines in health-care companies as investors worry about a backlash in Washington against recent price increases for key drugs. A few retailers reported disappointing ... … More »

  • Earliest China Tea Leaves Signal Weakening Business Sentiment Bloomberg - 2 hours 48 minutes ago

    China’s policy makers have refrained from across-the-board monetary stimulus in recent months and switched to reining in risks emerging in the bond and property markets. “Both domestic and export demand remained sluggish, and unfavorable weather … More »

  • China’s Biggest Cities Said to Plan Curbs to Tame Property Boom Bloomberg - 2 hours 48 minutes ago

    Beijing and Tianjin are also contemplating new measures to rein in prices, according to three of the people. China’s top leaders, after a Politburo meeting led by President Xi Jinping last month, pledged to curb asset bubbles amid a renewed focus … More »

  • Hong Kong Regulator Wants a Tighter Grip on IPOs in Blow to HKEx Bloomberg - 2 hours 48 minutes ago

    While the Securities and Futures Commission and Hong Kong Exchanges & Clearing Ltd. have stated publicly that they’re working together on a new regime to approve IPOs, brokers and lawmakers say the proposal would shift power toward the regulator. … More »

  • Zayo Group reports 4Q loss Associated Press - 2 hours 51 minutes ago

    On a per-share basis, the Boulder, Colorado-based company said it had a loss of 13 cents. Earnings, adjusted to extinguish debt, were 1 cent per share. The results met Wall Street expectations. The average ... … More »

  • Exclusive - Exchange Bats eyes new EU base outside London after Brexit
    Exclusive - Exchange Bats eyes new EU base outside London after Brexit Reuters - 2 hours 53 minutes ago

    Europe's biggest stock exchange Bats Europe could open a base outside London following Brexit, its head told Reuters, voicing doubts about whether the City of London would secure sufficient access to the European market. Bats Europe accounts for … More »

  • Kerry arrives in Geneva for Syria talks with Lavrov
    Kerry arrives in Geneva for Syria talks with Lavrov AFP News - 2 hours 53 minutes ago

    US Secretary of State John Kerry arrived in Geneva late Thursday for a meeting with his Russian counterpart Sergei Lavrov to discuss the situation in war-ravaged Syria. Earlier Thursday, the UN special envoy for Syria Staffan de Mistura described … More »

  • US stocks edge lower ahead of Yellen speech AFP - 2 hours 59 minutes ago

    US stocks finished lower on Thursday ahead of a much-awaited speech by Federal Reserve Chair Janet Yellen that analysts hope will clarify the Fed's policy stance. Health care and pharmaceutical shares ... … More »

  • Hedge Funds Suddenly Winning on China’s Most Dangerous Short (1) Bloomberg - 3 hours ago

    After suffering through a 953 percent rally in shares of Yirendai Ltd. since mid-February, hedge funds and other bearish speculators were rewarded over the past four days as the Chinese peer-to-peer lender sank 35 percent in U.S. trading. Holding … More »

  • Net 1 UEPS posts 4Q profit Associated Press - 3 hours ago

    The Johannesburg-based company said it had profit of 48 cents per share. Earnings, adjusted for one-time gains and costs, came to 51 cents per share. The payments company posted revenue of $151.3 million ... … More »

  • Vivendi keeps negotiating with Mediaset despite public spat - sources
    Vivendi keeps negotiating with Mediaset despite public spat - sources Reuters - 3 hours ago

    PARIS/MILAN (Reuters) - French media giant Vivendi (VIV.PA) and Italian broadcaster Mediaset (MS.MI) are negotiating behind closed doors to forge an alternative partnership despite an ongoing war of words over a disputed pay-tv deal, three sources … More »

  • QAD Inc. posts 2Q profit Associated Press - 3 hours ago

    On a per-share basis, the Santa Barbara, California-based company said it had net income of 3 cents. Earnings, adjusted for stock option expense and amortization costs, were 15 cents per share. The manufacturing ... … More »

  • QAD posts 2Q profit Associated Press - 3 hours ago

    On a per-share basis, the Santa Barbara, California-based company said it had profit of 3 cents. Earnings, adjusted for stock option expense and amortization costs, were 15 cents per share. The enterprise ... … More »

  • Wall St. slips on healthcare, consumer names; Fed eyed
    Wall St. slips on healthcare, consumer names; Fed eyed Reuters - 3 hours ago

    U.S. stocks were modestly lower on Thursday, weighed down by a drop in healthcare and consumer names, while financials advanced slightly after two more Federal Reserve officials pushed the case for a rate hike. Healthcare stocks, down 0.8 percent, … More »

 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.128-0.001-0.78%
    N21.SI
    0.355-0.010-2.74%
    E5H.SI
    0.59-0.01-1.67%
    5TP.SI
    1.00+0.01+1.01%
    Y92.SI
    0.785-0.010-1.26%
    BS6.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.45+0.09+26.76%
    AYB.SI
    0.465+0.080+20.78%
    E8Z.SI
    0.16+0.02+14.29%
    UV1.SI
    0.20+0.02+11.11%
    BGO.SI
    0.188+0.018+10.59%
    AWS.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.35-0.10-22.22%
    BFK.SI
    0.185-0.040-17.78%
    Y35.SI
    0.40-0.06-13.04%
    BBW.SI
    0.20-0.03-13.04%
    AWI.SI
    0.194-0.026-11.82%
    BLZ.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3522-0.0009-0.07%
    USDSGD=X
    1.5264-0.0003-0.02%
    EURSGD=X
    1.7844+0.0001+0.01%
    GBPSGD=X
    74.3400+0.095+0.13%
    SGDJPY=X
    5.7323+0.0041+0.07%
    SGDHKD=X
    2.9648+0.0008+0.03%
    SGDMYR=X
    9,821.0518+2.4668+0.03%
    SGDIDR=X
    4.9188-0.0015-0.03%
    SGDCNY=X
    1.0311+0.0005+0.05%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,324.20-0.40-0.03%
    GCZ16.CMX
    18.490.00-0.02%
    SIU16.CMX
    96.51+1.17+1.23%
    ^XAU
    2.080.000.00%
    HGU16.CMX
    47.330.000.00%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.16+0.01
    ^FVX
    1.58+0.02
    ^TNX
    2.26+0.02
    ^TYX