Stocks In Focus SG (Starhub, Singapore Airlines, Keppel Corp) – 07/02/14

• StarHub recognised a 6.2 percent decline in 4Q13’s total revenue to $613.7 million from $654.1 million in 4Q12, mainly due to lower sales of equipment, while operating expenses was down 5.5 percent to $521.8 million amid lower cost of sales. Earnings in 4Q13 shrank 4.8 percent to $83.7 million, compared to $87.9 million in 4Q12. For the year, revenue decreased to $2.4 billion and earnings increased to $370.7 million.

• Singapore Airlines’s 3Q14 revenue was flat at $3.9 billion, mainly attributed to the intensity of competition and unfavourable exchange rate movements. Despite company keeping 3Q14′s expenditure in check, losses and impairments amounting to $46 million dragged earnings down by 64.8 percent to $50.1 million. For the nine months, revenue came in flat at $11.6 billion, while earnings increased 7.1 percent to $332.5 million.

• Ascendas Hospitality Trust recorded a 10 percent increase in gross revenue to $56.6 million from $51.4 million in 3Q14, due to additional revenue contribution from newly acquired assets. However, earnings for the quarter shrank 90.1 percent to $0.3 million amid a $19 million loss on its business trust arm, partially offset by lesser losses from its real estate investment trust arm. Gross revenue for the nine months increased to $157.7 million leading to a net profit of $0.9 million.

• Keppel Corporation inked a repeat contract from UMW Oil & Gas Corporation for a KFELS B Class jackup rig for US$218 million (approximately $276.4 million). Slated for delivery in 3Q15, the latest order will be the third KFELS B Class jackup rig for UMW Oil & Gas.

• Otto Marine bagged a charter contract for its platform supply vessel, Sea Frost, for US$8 million with an option to extend for two additional terms. The contract spanning for 152 days will be utilised to support the Atwood Eagle rig that is located in Australia.

• Chasen Holdings secured two projects worth $2.5 million, including a contract worth RM5.2 million ($2 million) for the provision of engineering services for a coal-fired power plant in Johor, Malaysia.

More From Shares Investment:

• Asia Daily Bulletin – 12/02/14

• Market Commentary – 12/02/14

• Stocks In Focus SG (Singapore Airlines, Far East Hospitality Trust, Hutchison Port Hldgs Trust) – 12/02/14