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Stocks In Focus SG (Federal Intl, Kingboard Copper Foil Hldgs, Viva Ind Trust) – 07/05/15
ARA Asset Management registered a 6 percent increase in net profit to $19 million for 1Q15, driven by a quadrupling of its share of profits of associates. 1Q15′s revenue was flat at $37.7 million, down one percent due to lower finance income. The various private funds under ARA Private Funds launched subsequent to the ARA Asia Dragon Fund (ADF) are contributing higher revenues despite reduced revenue from ADF. The company continues to work towards launching new funds and growing their funds platform across six key markets across the Asia-Pacific.
Federal International posted a 449.1 percent jump in net profit to $16 million for 1Q15. 1Q15 revenue climbed 160.9 percent to $57.5 million, underpinned by higher contribution from Federal’s trading business that contributed 98 percent to total revenue. The group recently signed a US$917,000 contract for the drilling of three wells in Indonesia’s Aceh province, slated for completion by end of 2015. The group continues to focus on its core trading business by increasing its products offered and growing its regional footprint in South-east Asia.
Kingboard Copper Foil Holdings‘ 1Q15 net profit more than doubled to HK$6 million ($1 million) as 1Q15 revenue jumped 41.7 percent to HK$164.5 million. The company will be upgrading its production capabilities and product mix in anticipation of higher demand for the resin.
M1 plans to acquire 15 percent stake in a niche private telco in Oman for 3 million Omani rial ($10.3 million) to help the Oman telco become a full-service telecommunication provider. The Singapore telco will pay for the investment in Integrated Telecommunications Oman (TeO) with internal funds. The agreement marks the beginning of M1 with TeO as they work together to achieve the common aspiration for TeO to become a leading full-service telecommunication provider in Oman.
Petra Foods saw a 42.8 percent drop in 1Q15 net profit to US$7.7 million amid a slowdown in Indonesian economy. 1Q15 revenue also fell 13.5 percent to US$106.2 million as Indonesia’s economy contracted for the second quarter in a row in the January-to-March period. Trade customers have reacted to reduce inventory levels, which negatively affected sales. The company expects the operating environment in Indonesia to remain challenging for the rest of 2015 but the rate of decline should not continue through 2015.
Ramba Energy will issue nine million new shares for net proceeds of $2.8 million. $2.2 million will be pumped into its oil and gas business while $0.5 million will be used for general working capital of the group. In addition to the first placement agreement with Wing Harvest, the second placement agreement with Win World Profits and Harry Wangidjaja will represent 19.8 percent of the issued and paid-up share capital of the company. Upon completion, the issued and paid-up share capital will increase to more than 464 million ordinary shares.
Viva Industrial Trust plans to renovate Technopark@Chai Chee for $20 million, incorporating retail and lifestyle features into the business park, with its first retail offerings targeted to open for business as early as end 2015. The industrial park is currently the only business park development in its immediate neighbourhood. The changes will help realise the intrinsic value of this asset and unlock further potential through optimising unutilised space and prime leasable areas. The company is confident that the initiative will raise the value proposition for current and potential business park tenants by providing more and better amenities at their doorstep.
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