The fast growth of gambling markets in Macau and Singapore is enabling casino operators to return cash to their shareholders. Will Genting Singapore start paying dividends soon? What does that say about its growth prospects? Issue 509 of The Edge Singapore is now available on newsstands and Singtel’s Android-based tablets.
Fraser and Neave said it posted revenue of $1.36 billion in the first quarter ended 31 December 2011 (1Q2012), a decline of 11% over the same period last year.
Profit after tax was down 21% to $241 million due mainly to the absence of $100 million exceptional gain from the completion of corporate and debt restructuring of the group’s UK property business recorded last year. Excluding exceptional items, profit after tax improved 4% to $212 million.
AusGroup on Feb 9 said its net profit for the second quarter ended Dec 31, 2011 increased 67% to A$5.12 million ($6.9 million), from A$3.07 million a year ago. The increase in gross margins to 12.3% from 9% helped its bottomline despite a 6.4% decline year-on-year in revenue to A$150.61 million from A$160.88 million.
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Pacific Andes Resources Development said on Feb 9 its net profit for the first quarter ended Dec 31, 2011, rose 38.6% to HK$139.61 million ($22.4 million) from HK$100.75 million. Revenue rose 41.3% to HK$2.45 billion from HK$1.73 billion a year ago, with higher revenue contributions from both the frozen fish supply chain management and fishing division.
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Old Chang Kee said on Feb 9 it posted net profit of $2.61 million for the second half ended Dec 31, 2011, a 38.1% increase from $1.89 million a year ago. Revenue rose 8.1% to $31.78 million from $29.39 million. The amortisation of intangible assets, foreign exchange gain and decrease in write-offs of property, plant and equipment, helped its bottomline, it said.
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F J Benjamin Holdings on Feb 9 posted a net profit of $4.77 million for the second quarter ended Dec 31, 2011, up 15.77% from $4.12 million a year ago. Revenue rose 18% year-on-year to $109.93 million from $93.06 million.
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Tiong Woon Corp on Feb 9 said its net profit for the second quarter ended Dec 31, 2011, fell 53% to $234,000 from $497,000 a year ago due to an exchange loss of $1.3 million in the reporting quarter. Revenue increased 49% year-on-year to $38.58 million from $25.9 million.
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Hiap Seng Engineering on Feb 9 said it posted a profit of $379,000 for the third quarter ended Dec 31, 2011, compared to a loss of $2.84 million a year ago. Revenue for the quarter rose 35% to $42.77 million from $31.69 million.
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It said Titanium owns Nigeria’s second largest biscuits and candy franchise and had a turnover of about US$162 million last year.
Raffles Education jumped 14% to 52.5 cents yesterday, the biggest advance since February 2009. About 35.5 million shares changed hands, 23 times the stock’s average daily trading volume in the three months to Feb. 7, according to data compiled by Bloomberg. The stock slipped 2.9% as of 1:57 p.m. local time today.
DMG & Partners Research in a Feb 7 research report says: “EYS reported a net loss of $2.8 million in 2QFY12, due to a $8.8 million impairment charge on ASX-listed associate, Healthzone.
OCBC Investment Research in a Feb 8 research report says: “Revenue increased 7.6% y-o-y to $142.7 million, while net profit inched up 0.8% to S$17.1m. Sequentially, top-line and bottom-line grew 15.4% and 30.1%, respectively. For FY2011, revenue of $553.7 million represented an 8.8% climb, or 1.5% higher than our estimates.
DBS Vickers Securities in a Feb 8 research report says: “Chongqing, touted as ‘the next Shanghai’ has been attracting new projects by prominent Asian property developers. As an incumbent and early entrant, Ying Li is well positioned to ride on Chongqing’s economic growth and rising importance as Western China’s gateway city.
UOB KayHian in a Feb 8 research report says: “Since acquiring the Dukang brand in 2010, Dukang Distillers Holdings (DDH) has made headway in restoring the brand’s former glory as a national icon synonymous with baijiu, a spirit distilled from wheat and sorghum.
Investors were also cautious as they awaited a final deal that will allow Greece to avoid a messy debt default.
TUESDAY, FEB 14
United States
Import Price Index (y-o-y, Jan)
Advance Retail Sales (Jan)
Most economists expect the final GDP numbers to show an improvement over preliminary figures that showed the economy contracted 4.9% in the fourth quarter on a quarter-on-quarter, seasonally adjusted and annualised basis.
By 10:35 a.m., CapitaLand shares were up 2.1% at $2.91. The company’s shares fell more than 40% last year.
Autumn Martin has been appointed director, digital media wef February
Work experience: Associate director, HP account, EMEA, Omnicom Media Group, UK; digital communications director, EMEA, Universal McCann
