23 January 2014

Singapore Stock Market Summary - 23 Jan 2014

Tigerair - posted a loss after tax of $118.5m in 3QFY14, after recording exceptional charges of $88.3m, comprising a $30.3m million loss on planned disposal of Tigerair Philippines and an impairment of associates of $58.0 million. The Group’s 3QFY14 earnings were weighed down by share of loss of associates which
amounted to $23.1m

Soybuild Business Space Trust - Distribution per Unit for 4Q FY2013 (1 October 2013 to 31 December 2013) at SGD 1.510 cents – 3.4% above the Forecast(1). Portfolio Gross Revenue and Net Property Income for 4Q FY 2013 outperformed the Forecast(1) by 0.9% and 2.1% respectively. 100% of debt hedged. Average all-in interest cost of 3.12% as at 31 December 2013. Conservative gearing at 29.3% as at 31 December 2013 provides debt headroom for future acquisitions. Healthy interest cover ratio of 5.5 times.Portfolio occupancy rate increased from 99.8% to 99.9% during 4Q 2013 due to expansion by an existing tenant in Eightrium. 17% of portfolio NLA due for renewal in FY2014. Portfolio market value as at 31 December 2013 is S$935 million(2).

Suntec REIT - Distribution income of S$211.2 million and DPU of 9.328 cents inclusive of capital distribution of S$19 million. Capital Management: Established US$1.5 billion EMTN Programme, Raised S$1.3 billion financing facilities, Average all.in financing cost of 2.66%. Suntec City AEI - Opening of Suntec City mall (Phase 1) and Suntec Singapore. Acquired 177.199 Pacific Highway, North Sydney. Assets under management increased to S$8.6 billion*

Capitamalls Malaysia REIT - Distribution Per Unit  ―4Q 2013: 2.24 sen (4Q 2012: 2.11 sen), up 6.2% y-o-y  ―FY 2013: 8.85 sen (FY 2012: 8.44 sen), up 4.9% y-o-y. Net Property Income  ―4Q 2013: RM54.8 mil (4Q 2012: RM49.5 mil), up 10.8% y-o-y  ―FY 2013: RM208.6 mil (FY 2012: RM196.0 mil), up 6.4% y-o-y. Completion of East Coast Mall’s Phase 1 asset enhancement works. Final Income Distribution of 4.50 sen per unit for the period 1   July 2013 to 31 December 2013. Revaluation of Portfolio from RM3.04 billion to RM3.08 billion

Keppel Corp - 4Q 2013 Net Profit increased 9% to S$332 million, compared to 4Q 2012’s S$305 million. FY 2013 Net Profit decreased 26% to S$1,412 million,  compared to FY 2012’s S$1,914 million.   (NB: FY 2012 Net Profit included recognition of sale of units at Reflections at  Keppel Bay and higher gains from disposals of equity investments.) FY 2013 Earnings per Share was 78.2 cents, down 27% from FY 2012’s 106.8 cents. Return on Equity was 14.9%. FY 2013 Economic Value Added decreased from
S$1,375 million to S$939 million. Cash inflow was S$642 million. Net gearing was 0.11x. Total distribution of 49.5 cents per share (Interim cash dividend of 10.0 cents per share, Interim dividend in specie of Keppel REIT units equivalent to 9.5 cents per share, Proposed final cash dividend of 30.0 cents per share)

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