16 April 2013

Singapore Shares Market Daily Update - 16 April 2013


Stocks in Focus: Keppel REIT, K-Green, Keppel Corp, Falcon Energy, Ascendas REIT, Far East H-Trust, SIA, Geo Energy, Breadtalk, Contel, HLN Technologies, Innopac 

Keppel REIT: Booked 20.7% y/y increase in 1Q13 net property income, mainly driven by higher occupancy  improved performance from Ocean Financial Centre and 77 King Street, lifting distributable income by 7.6% and DPU by 3.7% to 1.97¢ for 5.9% annualized distribution yield.

K-Green: 1Q13 financial result net profit declined 9.8% to $3.2M in line with 10.5% drop in revenue. NAV falls to $1.01 from $1.05 after distribution paid in prior quarter.

Keppel Corp/Falcon Energy: Secured US$226M jack-up rig order from Falcon Energy, bumping up new orders to-date to US$1.8B.

Ascendas REIT: 4QFY13 NPI slid 4.3% q/q due to flat revenue and higher M&C charges and property taxes. This, coupled with a doubling in performance fees dragged DPU down by 15.5% to 3.06¢ from 3.62¢ paid in the 3Q.

Far East H-Trust: Acquires Rendezvous Grand Hotel (298 rooms) and Rendezvous Gallery retail wing (NLA 24,700 sf) for $264.3M from Straits Trading.

SIA: Overall load factor rose 1.9 percent to 71.5% in Mar 13.

Geo Energy: Acquiring its 5th coal mine concession in East Kalimantan with area of 4,600 ha that estimated to contain a higher calorific value coal of 7,200 kcal/kg and semi-coking coal.

Breadtalk: Entered into JV with a consortium of investors comprising Perennial Real Estate Holdings, Bright Assets Enterprise, HK-listed Shun Tak, Ron Sim and Ronald Ooi, to develop Phase 2 of 3 plots of land in Tongzhou district of Beijing, China. Breadtalk will have an effective 2.93% stake in the Beijing Tongzhou integrated project, which comes with retail, office and residence components.

Contel: Inks $582.3M RTO with vendors of e-commerce social network YuuZoo Corp via issue of up to 1.16B new 5 to 1 consolidated shares @ $0.50.

HLN Technologies: Sacked its COO Wa Kok Liang for grave misconduct and breach of duties in relation to the proposed disposal of HLN Rubber Products

Innopac: Australian foreign investment review board has approved its takeover of Merlin Diamonds

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