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Stocks In Focus SG (Civmec, M1, Yuuzoo) – 14/04/15
Civmec announced its entrance into a due diligence phase for the acquisition of PT Global Industries Asia Pacific (a Technip subsidiary) to have a long-term collaboration agreement with Technip for services and facilities for current and future project work globally. The proposed acquisition includes securing 21 hectares of strategically located waterfront land with deep-water access in Batam, Indonesia. Civmec believes that the considerable opportunities in the infrastructure and Subsea sectors, in addition to the long term outlook within the Oil & Gas and Mining sectors substantiates the investment in what will be a state of the art and internationally competitive facility. The transaction is due to complete in August 2015.
M1 reported its 22.7 percent increase in revenue for the first 1Q15 year-on-year to $294.8 million, attributable to higher handset sales with strong demand for the new Apple iPhone 6 and 6+. M1 wishes to achieve “moderate” earnings growth this year, citing continued growth in mobile data usage and new services in its fixed services segment.
Soilbuild Business Space REIT reported its 1Q15 results, maintaining its portfolio occupancy rate of 100 percent operationally as at 31 March 2015. Although 18.4 percent of Soilbuild REIT’s net lease agreements are expiring in the financial year of 2015, there has been improvement from 29.7 percent in the beginning of the year, reflecting the management’s proactive renegotiation efforts. Distribution per unit was up 4.5 percent year on year to 1.663 cents.
YuuZoo Corp announced that it has signed an exclusive partnership to develop a social e-commerce network for China’s “Dream Overseas”, a leading overseas education and investment services network in China. The Dream Overseas social e-commerce network will sit within YuuZoo’s virtual shopping mall, which is fullly localised and mobile-optimised for Chinese users. The marketing of the Dream Overseas social e-commerce network on TV through CBN will drive more users to YuuZoo’s virtual shopping mall, which every day is adding new users, products or partners.
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