27 January 2014

Singapore Stock Market Daily Summary - 27 Jan 2014

Chosen: reported 24% increase in latest half year revenue to S$61M and recorded net profit of S$2.4M compared to losses in previous period. The management said while demand for the Singapore operation’s motor products, commercial equipment and medical devices are increasing, demand for data media storage products are expected to remain relatively weak in the second half of FY 2014. The Malaysia operation’s transportation machinery products will continue to grow. The Ayutthaya operation in Thailand will continue to develop its communication product business. Renovation of the Chonburi plant is completed. However, its commencement of operation may be delayed due to the current political unrest. Automotive, printing and imaging and retail solution products will continue to contribute to revenue for the China operations.

Marco Polo Marine: Near doubling of revenue in Q1FY2014 to S$30.1 million underpinned by strong performance from chartering of OSVs. Ship Chartering Division more than tripled and Ship Building & Repair Division improved by 21.6% in revenue over the same period last financial year. Improved operational performance with gross profit increased by 56.5% to S$9.2 million and profit from operations up by 43.0% to S$6.1 million in Q1FY2014 vis-à-vis Q1FY2013. Notwithstanding the payment of the tax exempt one-tier special interim dividend of SGD1.4 cents per ordinary share in Q1FY2014, NAV per share maintained at 47.5 Singapore cents as at 31 December 2013, comparable to 47.8 Singapore cents as at 30 September 2013. Group continues to pursue investment opportunities with impetus driven by draw-down of S$50 million in October 2013 from the recently established S$300 million multicurrency Medium Term Note programme

OSIM: have achieved 5 years of record profit. It expect its improvement in productivity and growth in
profitability will continue to be driven for a number of years by market leadership, continuous innovation and productive execution. Record PBT $129 million +12% , Q4 PBT $34 million +10% .Record PAT $102 million +17% , Q4 PAT $28 million +22%. Record Sales $648 million +8% , Q4 Sales $179 million +16%. Final dividend of 2 cents per share. Cash & Cash Equivalents and Fixed Income Investments as at 31 Dec 2013 were S$299 million. The diluted FY EPS was 13.58c, which implies about PE 17X - 18X.

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