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Stocks In Focus SG (Ezra Holdings, Frasers Centrepoint, Zhongmin Baihui Retail Group) – 09/01/15

Ezra Holdings’ subsidiary, EMAS AMC, has inked an AUD130 million ($105 million) subsea construction contract with Australian based Apache Energy. The scope of work includes project management, engineering, transportation and subsea installations. Separately, Ezra reported a 5.5 percent fall in revenue to US$321 million in 1Q15, due to a drop in revenue from the subsea service division and the offshore support and production services division. Net profit increased by 7.6 times from US$6.3 million to US$54.4 million, due to a higher other income from a one-off gain on bargain purchase from the acquisition of subsidiaries, and a turn-around from foreign exchange loss.

Frasers Centrepoint intends to strengthen its foothold in China with Frasers Hospitality’s addition of 10 more serviced residences in Tianjin, Nanchang, Hefei, Dalian, Kunming, Wuxi and Chengdu, and two more key cities in Shanghai and Shenzhen. The plans will add more than 2,400 new apartment units, doubling Frasers’ China portfolio. China is one of the fastest-growing markets for Frasers Hospitality, which together with South Korea and Japan currently make up one-third of its total revenue.

Zhongmin Baihui Retail Group has signed a lease termination agreement with Jintongcheng Building Owners’ Committee on 31 December 2014, in relation to the Xiamen Zhongshan Store in Xiamen City, China. The termination was derived to mitigate losses because it was not operating at a profitable level since its commencement in November 2013.



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