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Stocks In Focus SG (Singapore NODX, Aspial, ST Engineering) – 16/01/15
According to International Enterprise (IE) Singapore, Singapore’s non-oil domestic export (NODX) expanded 2.3 percent year-on-year in December 2014, after the 0.8 percent increase in the previous month, due to the rise in both electronic and non-electronic NODX. Year-on-year, Electronic NODX took an upward turn of 0.4 percent in December 2014, contrasting to the 10.2 percent fall in November. Non-electronic NODX expanded 3.2 percent, after the 6.2 percent increase in November. Non-oil re-exports (NORX) rose by 8.7 percent after the 3.5 percent expansion in the previous month as well, due to an increase in both electronic and non-electronic NORX.
Aspial Corporationhas proposed a spin-off of its property business in Australia and Malaysia, and plans to list it on the Catalist board of the Singapore Exchange. The plan is subjected to results of preparatory work, requisite approval from the relevant authorities and market conditions. Shares of Aspial opened $0.02, or 5.1 percent, higher at $0.41.
Cambridge Industrial Trust has released its FY14 financial statements, showing a 3 percent increase in revenue to $99.3 million. Net property income margin fell 5 percentage points from 83.3 percent in FY13 to 78.3 percent in FY14. Distributable amount available increased by 2.9 percent to $63 million. The trust has declared a distribution per unit of $0.01252 for the fourth quarter of FY14.
Keppel Corporation’s shipbuilding arm, Keppel Singmarine, has been awarded a contract worth $265 million to build New Orient Marine’s first ice-class multi-purpose vessel according to Keppel Offshore and Marine’s proprietary design. The project is due to complete by mid-2017.
Singapore Technologies Engineering has secured an approximate $509 million worth of contracts in 4Q14. The deals span from solutions in rail electronics and intelligent transportation, satellite and broadband communications to advanced electronics and information communications technologies (ICT). The largest contract came from advanced electronics and ICT solutions’ $313 million. One of which is the partnership with SMRT Bus, to develop an integrated training system for the bus career development centre at Devan Nair Institute for Employment and Employability.
Singapore Windsor Holdings announced a joint venture between its subsidiaries, SMI F&B and SMI F&B MM, and an independent third party, Quarto Products, for the purpose of importing food and beverages from overseas suppliers into Myanmar for onwards sales in the country. Pursuant to the agreement, SMI F&B and Quarto will be issued new shares of SMI F&B MM, in a 60-40 percent stake holding.
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