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Stocks In Focus SG (BreadTalk Grp, NOL, Sembcorp Ind) – 18/02/15
Boustead Singapore proposed the acquisition of a 20 percent shareholding interest in Mason Energy, a company which supplies valves and other equipment to the oil and gas industry in china, for $8 million. The company views this acquisition to be complementary to the business of the Boustead Group’s energy-related engineering division. The acquisition will be funded by internal resources.
BreadTalk Group saw a 9.9 percent increase in revenue to $589.6 million for the fourth quarter ended 31 December 2014, but the group was expecting even better performance for 4Q14 but was not materialised due to softer than expected demand across all markets especially China. Despite the higher revenue performance, contributions from associates turned negative and subsequently led to a 10.3 percent fall in earnings to $12.2 million. The company has declared a final dividend per share of $0.01.
Lum Chang Holdings has been awarded the tender for a contract worth $487 million by North Gem Development and FC North Gem Trustee (subsidiaries of Frasers Centrepoint) to construct a mixed development at Yishun Central 1, Yishun Avenue 2. The scope of works includes the construction of a three-storey multi-facilitated podium block with two basement levels and a 10-storey residential development above. The project will commence on 15 April 2015 and is expected to be completed by 2H18.
Neptune Orient Lines proposed the sale of APL Logistics for US$1.2 billion. The disposal is aimed to strengthen the financial position of the group where net proceeds from the disposal will be used to repay its borrowings. The group views this as a timely opportunity to unlock the value of the logistics business to the company and shareholders.
Sembcorp Industries posted a 10.4 percent decline in turnover to $2.7 billion for the fourth quarter ended 31 December 2014. Despite the revenue decline, gross profit pranced up 20.3 percent to $423.5 million due to improved profitability from its utilities and marine segments. Subsequently, earnings were up 7.5 percent to $240.6 million. For the full year, revenue was flat at $10.9 billion, while earnings slid 2.4 percent to $801.1 million. The company has declared a final dividend per share of $0.11.
UOB Kay Hian Holdings’ total revenue came in flat at $99.6 million for the fourth quarter ended 31 December 2014, underpinned by lower commission and other operating income. Despite the flattish performance, total expenses contracted 3.3 percent which helped net profit to advance 7.4 percent to $19.8 million. For the full year, revenue sank 13.4 percent to $361.7 million while earnings declined 20.3 percent to $74.4 million. The company has declared a first and final dividend per share of $0.05.
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