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Stocks In Focus SG (Noble Grp, Sabana REIT, SPH Hldgs) – 16/10/14
Armarda Group proposed the acquisition of Guiyang Tech for a price between Rmb160 million to Rmb200 million. The final price will be formally set out via a sale and purchase agreement on a later date. The proposed acquisition will enable the group to extract synergies from Guiyang Tech to integrate and enhance its own range of mobile and information technology platforms. In addition, the group will be able to leverage on Guiyang Tech’s data centre and customer base to strengthen its reach in the China market.
BBR Holdings secured two specialised engineering projects in Terengganu, Malaysia, worth RM335 million. The first project involves the design and construction of a new marina base and connecting bridge at Pulau Poh and is targeted for completion in June 2017. The second project comprises the design and construction of a 362-metre long precast girders bridge in Kuala Berang District and is targeted to be completed in February 2016.
Noble Group agreed to fully acquire the share capital in Alcoa Minerals of Jamaica (AMJ), a company incorporated in Delaware, US, for US$140 million in cash. AMJ’s principal business is via its participation in a joint venture in Jamaica for the production and sale of alumina.
QT Vascular signed a distribution agreement for the sales of its Chocolate PTA® balloon catheter in the countries of Austria, Australia, Italy and Turkey. The agreement widens the product reach in Europe and Australia. Additionally, the group is committed to continue the expansion of the product’s distribution channels in more countries.
Sabana Shari’ah Compliant Real Estate Investment Trust reported a 16.3 percent gain in gross revenue to $25.1 million for the third quarter ended 30 September, due to contribution from a newly acquired property in September 2013, as well as higher contribution from 151 Lorong Chuan. However, amount available for distribution was down 18.4 percent to $12.7 million on the back of a four-fold increase in property expenses. For the nine months, gross revenue was up 16.1 percent to $75.1 million, while amount available for distribution fell 16.9 percent to $38.7 million. The trust declared a distribution per unit of $0.0181 for the third quarter.
Singapore Press Holdings’ revenue edged down 2 percent to $1.2 billion for the year ended 31 August, mainly due to weaker performance at its newspaper and magazine business segment. Coupled with a 7.1 percent expansion in staff costs as a result of an upward salary adjustment, net profit was down 6.2 percent to $404.3 million. Subsequently, the group has declared a combined dividend per share of $0.14 (final dividend per share: $0.08, special dividend per share: $0.06).
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