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Stocks In Focus SG (SingPost, Banyan Tree, AddValue Tech) – 29/05/14
Singapore Post (SingPost) – Alibaba Group Holdings (Alibaba) announced that it will invest $312.5 million for a 10.35 percent stake in SingPost. The price per share consideration is approximately $1.42 apiece, which is at an 8.3 percent discount to the volume weighted average price of SingPost shares on 27/05/14. This will make Alibaba the second largest shareholder in SingPost after Singapore Telecommunications.
Read more about the investment and how it might affect SingPost here.
Banyan Tree Holdings (Banyan Tree) – $125 million worth of 4.875 percent fixed rate notes has been issued by Banyan Tree on 28/05/14. Banyan Tree plans to use the proceeds to finance the general working capital, capital expenditure, and investment requirements and refinancing needs of the group.
Addvalue Technologies (Addvalue) – Seller of satellite terminals and services to provide lines of communication in remote areas saw its share price surge as much as 40 percent on 28/05/14’s trade. The Singapore Exchange (SGX) issued a “Trade with Caution” advice as Addvalue was unable to explain the share price surge when prompted by SGX’s query.
Biosensors International Group reported an 8 percent year on year dip in revenue to US$81.6 million in the 4Q14, underpinned by a drop in sales for the interventional cardiology segment as well as lower licensing and royalties revenue. Additionally, due to a higher cost of sales, gross profits fell 16 percent year on year to US$62.2 million in 4Q14. Consequently, net profit fell 80 percent year on year to US$6.1 million in 4Q14, underpinned by higher finance expenses relating to the fixed rate notes previously issued and the consolidation of expenses from the cardiac diagnostic business unit. Therefore, Net profit for FY14 fell 65 percent to US$40.6 million.
The Hour Glass posted a 13 percent increase in revenue to $683 million in FY14 as compared to $602 million in FY13. However, underpinned by higher operating expenses due to the expansion of the group’s retail network in the region and the start-up cost for the Ladurée business, the group’s earnings recorded a four percent growth to $56.4 milllion as compared to $54.3 million a year earlier.
Japan Foods Holding recorded a 2.4 percent increase in revenue to $62.8 million in FY14 as compared to $61.3 million in FY13, underpinned by higher sales in “Menya Musashi”, “Osaka Ohsho”, “Fruit Paradise”, “Udon King” and “Menzo Butao”. Gross profits, rose 4.3 percent from $49 million in FY13 to $51.2 million in FY14. Consequently, due to lower operating and administrative expenses net profit increased 14 percent from $6.4 million in FY13 to $7.3 million in FY14.
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