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Stocks In Focus SG (CapitaLand, Linc Energy, ThaiBev) – 17/11/14
CapitaLand has entered into a 50:50 joint venture with Credo Group to develop an integrated development in Central Jakarta, Indonesia, with a total cost of $220 million. The integrated development, CapitaLand’s first in country, will comprise office, residential, serviced residence and supporting retail components spanning a total gross floor area in excess of 40,000 square metres.
Linc Energy posted a 22.8 percent fall in revenue to AUD29.6 million for the first quarter ended 30 September due to lower US oil and gas net sales volume and a decrease in realised price per barrel. However, the sale of the Carmichael Royalty Deed to the Adani Group enabled the firm to return to the black with a profit of AUD106.1 million.
Pacific Radiance has inked a long-term charter contract for one of its vessels ahead of its expected delivery in 2016/17 worth over US$140 million. The contract, secured from a new client, involves performing offshore support services in an emerging market.
Spackman Entertainment Group has entered into a memorandum of understanding for the proposed acquisition of a 51 percent or more stake in Novus Mediacorp Co. The latter is an investor, presenter and ancillary distributor for Korean theatrical films that had its hand in 54 films since 2009.
Thai Beverage’s turnover for the third quarter ended 30 September rose 0.7 percent to THB35.3 billion, underpinned by growth in sales of the beer, non-alcoholic beverages and food businesses. However, a sharp drop in profit from associates led to an 8.8 percent fall in net profit to THB3.7 billion. For the nine months, revenue and net profit expanded 4.8 percent and 22.1 percent to THB116.3 billion and THB15.2 billion respectively.
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