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Stocks In Focus SG (Frasers Centrepoint, Sembcorp Marine, UOB) – 13/02/15

Boustead Singapore saw a 37.2 percent gain in revenue to $177.9 million for the third quarter ended 31 December 2014, mainly led by better business performance at its real estate solutions. However, a 66.2 percent spike in cost of sales, dragged net profit down by 35.8 percent to $11.8 million. For the nine months, revenue accelerated 16.8 percent to $434.1 million while earnings were flat at $45.4 million.

Frasers Centrepoint posted a 94.2 percent rise in revenue to $1.1 billion for the first quarter ended 31 December 2014, amid increased contribution by Australand which was acquired in August 2014. Subsequently, net profit accelerated 54.7 percent to $186.9 million.

Olam International recorded a 4 percent gain in revenue to $9.2 billion for the six months ended 31 December 2014, due to a sharp increase in prices of some commodities. However, due to a 64.8 percent expansion in other expenses, net profit sank 9.7 percent to $163 million.

Sembcorp Marine posted a 14.6 percent decline in turnover to $1.4 billion for the fourth quarter ended 31 December 2014, as a result of lower revenue recognition for rig building projects. Net profit dropped 4.6 percent to $174 million due to a write-back of tax in 4Q13 on recognition of tax incentives. For the full year, turnover was up 5.6 percent to $5.8 billion while earnings were flat at $560.1 million. The group has declared a final dividend per share of $0.08.

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Starburst Holdings recorded an 87 percent growth in revenue to $39.4 million for the year ended 31 December 2014, underpinned by the commencement of fabrication and installation works for projects Southeast Asia and the Middle East. Subsequently, net profit jumped 50.8 percent to $13.2 million. The company has declared a final dividend per share of $0.012.

Wilmar International’s revenue fell 7.3 percent to US$10.8 billion for the fourth quarter ended 31 December 2014, in conjunction to lower average selling price in consumer products and lower palm prices. However, helped by a reduction in overall expenses in particular to selling and distribution expenses and finance costs, net profit was lifted up by 8.7 percent to US$401.2 million. The company has declared a final dividend per share of $0.055.

United Overseas Bank saw a 6.7 percent gain in net interest income to $1.2 billion for the fourth quarter ended 31 December 2014, bolstered by higher loan growth but partially offset by a decrease in net interest margin. Subsequently, net profit made a modest 1.7 percent increase to $786 million. For the full year, net interest income advanced 10.6 percent to $4.6 billion while net profit was up 8 percent to $3.2 billion. The group has declared a final and special dividend per share of $0.50 and $0.05 respectively for the fourth quarter.



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