Stocks In Focus SG (GLP, Datapulse Tech, Ezion Hldgs) – 16/09/14

Datapulse Technology’s revenue sank 34.6 percent to $29.5 million for the year ended 31 July 2014, led by weaker demand for existing media storage products and services, while sales of Blu-Ray media storage products and services remained slow. As the revenue decline has outpaced the company’s cost savings initiatives where operating expenses shrank 17.6 percent, net profit was down 92.1 percent to $0.8 million. Subsequently, the company has declared a final dividend per share of $0.0022.

Ezion Holdings inked a three-year contract with extension options worth US$76 million for the provision of a service rig to be used by a Southeast Asian based national oil company to support its oil and gas activities. The service rig is expected to be deployed and working by end 2016.

Global Logistic Properties (GLP) leased 112,000 square metres of space to a state-owned consumer goods company in Midwestern China. The lease represents a new customer relationship for GLP.

Swissco Holdings acquired a liftboat for US$56 million where the vessel is expected to be completed within two years and deployed in Southeast Asia. The support vessel is the first of its type within Swissco’s fleet and is able to operate in water depths of up to 70 metres, and accommodate 120 offshore personnel. The purchase is significant in strengthening the firm’s position as a fully-integrated offshore marine player.

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