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Stocks In Focus SG (Frasers Centrepoint, Silverlake Axis, Super Group) – 11/11/14
Frasers Centrepoint’s hospitality arm expanded its Indonesian footprint with the opening of its second property, with 128 serviced units, in Jakarta. Moving forward, it intends to add another six properties in Jakarta and two in other Indonesian cities to add 1,700 more serviced units by 2017.
Halcyon Agri Corporation entered into a memorandum of understanding to acquire Centrotrade Holding, a leading distributor of rubber products known for its strong technical capabilities and operator of several warehouses and storage tanks in Europe, South Africa and US.
Silverlake Axis post a 14.6 percent lift in top line to RM116.3 million for the first quarter ended 30 September, driven by improved contribution from software licensing and maintenance and enhancement services. A change in revenue mix led to a 6.4 percentage points expansion in gross margin to 64.5 percent. Subsequently, earnings rose 16.7 percent to RM59.7 million.
Singhaiyi Group’s revenue for the second quarter ended 30 September tumbled 54.7 percent to $5.9 million as property development income took a hit in absence of contributions from Charlton Residences, which was fully completed in FY14. Further, without a one-off gain arising from the acquisition of Tri-County Mall experienced in 2Q14, net profit fell 74.6 percent to $1.9 million. For the first half, top and bottom lines declined 48.3 percent and 62.4 percent to $11.8 million and $2.9 million respectively.
Super Group’s revenue dipped 2.6 percent to $129.5 million for the third quarter ended 30 September, due to lower branded consumer sales. Higher raw material costs had a negative impact on margins while higher selling and distribution expenses added to the pressure on the bottom line, which fell 46.7 percent to $10 million. For the nine months, turnover and net profit declined 4.4 percent and 44.6 percent to $385.8 million and $42.8 million respectively.
Tritech Group’s subsidiary, Tritech Consultants, together with Black & Veatch (Sea), was awarded an $18.5 million consultancy contract by the Public Utilities Board to provide engineering services for the Murnane Service Reservoir and Fort Canning Service Reservoir. Tritech Consultants’ portion of the contract is worth $8.8 million. The contract is expected to be completed within 54 months (May 2019).
XMH Holdings’ subsidiary, Mech-Power Generator Group, has inked two contracts worth $11.3 million. The first contract is the supply, delivery and installation of standby generator sets and fuel systems for the Changi Airport Terminal 4 project, scheduled for delivery in 2Q15. The second contract involves similar works for an upcoming five-storey data centre project in Jurong Industrial Estate with two deliveries in December and February 2015.
Yeo Hiap Seng recorded an 11.3 percent decrease in revenue to $114.7 million for the third quarter ended 30 September, in absence of any property-related activities following the sale of its last residential property unit in December 2013, partially offset by an improvement in its food and beverage division’s performance. A 6 percentage points narrowing of gross margin to 37.3 percent further magnified the effect on the bottom line as net profit slumped 85.9 percent to $3.1 million. For the nine-month period, turnover and earnings declined 18 percent and 77.8 percent to $337.9 million and $15.7 million respectively.
YuuZoo Corporation has acquired Sandbox’s, a leading global social gaming company, registered user base of over five million users for about US$0.5 million. The duo has recently launched a new mobile game, Honey Snatch.
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