Stocks In Focus SG (Sembcorp Industries, Ziwo Holdings, Health Management Int’l) – 08/05/15

Health Management International announced it had received non-binding expressions of interest for Mahkota Medical Centre (MMC) in Malacca, Malaysia, in response to recent media reports touching on this subject. Co stated that it has not made any definitive decision with respect to, and has not entered into any definitive agreement for, a potential sale of MMC.

Hiap Seng Engineering’s 87 percent-owned subsidiary, HS Compression & Process has been awarded two contracts worth about US$11 million for the provision of offshore gas compressor packages. Works have commenced and are scheduled for completion by March 2016.

Sembcorp Industries’ 1Q15 net profit dropped 23.1 percent, while revenue declined 11 percent to $2.3 billion, primarily dragged down by its Utilities’ segment. 2015 is expected to be challenging for the Singapore energy business, but the overseas business is expected to continue to deliver a steady performance.

Sino Construction announced that it expects a net loss for 1Q15. Co states that the loss is mainly due to an increase in administrative expenses in legal fees and professional fees incurred in relation to the GUF Takeover Bid, which was discontinued on 17 February 2015.

Ziwo Holdings announced a profit warning statement and expects a net loss for 1Q15, primarily due to a share award expense amounting to approximately RMB2.4 million.

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