Yahoo Finance 
Stocks In Focus SG (Nam Cheong, SPH, UOB) – 30/09/13
Nam Cheong Sells 4 Vessels; Close To Setting New Record Sales
Nam Cheong announced that it has sold four platform supply vessels worth a total of approximately US$120 million (approximately $150 million) to a new customer, which is an emerging offshore marine services company based in Latin America. Notably, the sale is one of Nam Cheong’s largest contracts won for the year, bringing its cumulative order book to RM1.7 billion (approximately $669 million). The four vessels sold, which are being constructed as part of Nam Cheong’s build-to-stock series in its subcontracted yard in China, would bring the company’s total sales for the year to 20, close to surpassing its record of 21 vessels sold last year. They are scheduled for delivery in 2014 and are expected to contribute positively to its earnings for FY13 and FY14.
Significance: Nam Cheong is positive on the global oil and gas industry amidst the growing demand for energy as exploration and production spending is expected to reach a record US$678 million by 2013. Against this backdrop, the company believes it is on track to surpass last year’s record sales.
Norwegian Telco Telenor Buys Stake In SPH’s Joint Media Company
Norway’s leading telecommunications operator, Telenor ASA, is buying a one-third stake in Singapore Press Holdings’ joint venture company 701Search. 701Search is currently owned 50:50 by SPH Interactive International and Schibsted Classified Media AS. Telenor paid SPH Interactive $16.9 million in cash for its 701Search shares. Telenor, will through its unit Telenor Communications II AS, acquire the stake at an enterprise value of 180 million euros. This agreement will also provide for the subscription of additional shares in 701Search by Telenor. 701Search operates online classified companies including Mudah.my in Malaysia and Berniaga.com in Indonesia. Subject to regulatory approval, on closing, 701Search will be owned one-third by SPH Interactive, one-third by Schibsted and one-third by Telenor.
Significance: SPH chief executive Alan Chan said that with the participation of Telenor, and the different strengths and extensive knowledge of SPH, Schibsted and Telenor, 701Search can work towards penetrating the online classifieds market in South-East Asia and beyond.
UOB And ANZ Among Companies Considering Bid For Wing Hang Bank
United Overseas Bank and Australia & New Zealand Banking Group are considering a bid for Hong Kong’s Wing Hang Bank. This is according to people familiar with the matter. The Wall Street Journal also cited people familiar with the matter as saying UOB and ANZ had shown interest. Although earlier this month, Wing Hang announced that its controlling shareholders had received preliminary offers from third parties to purchase their shares in the bank, Wing Hang did not name the bidders. A UOB spokesperson said the bank does not comment on market speculation. Wing Hang Bank could not be reached immediately for comment as well. Banks across Asia, from Japan to Singapore, are also aggressively expanding their borders, looking for higher growth markets.
Significance: China’s economic clout and the growth of the offshore yuan fixed income market has made Hong Kong’s mid-sized banks increasingly attractive to foreign lenders seeking a gateway to the mainland market and seek growth outside home markets.
More From Shares Investment:
