Yusuf Alireza has been appointed ED/CEO wef April 16
Work experience: Co-president, Asia (ex Japan), Goldman Sachs; head, Asia securities division, Goldman Sachs
Archive for the ‘World’ Category
Noble Group – Corporate moves
February 9th, 2012 |
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M & G Investments – Corporate moves
February 9th, 2012 |
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Alex Jeffrey has been appointed chief executive of PRUPIM
Work experience: Global CIO, MGPA; European CEO, MGPA
Feb 9: Noble, Biosensors, Raffles Education
February 9th, 2012 |
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Singapore shares may start weaker on Thursday after a run of gains this week, as investors prepare for Chinese inflation data later in the day and wait to see if a deal can be finally reached for a Greek bailout.
Singapore’s benchmark Straits Times Index rose 0.83% on Wednesday to 2,982.20 points. Here are some stocks and factors to watch according to Reuters:
Commodity trading firm Noble Group will be in focus after appointing José Luiz Glaser as chief executive officer of its agriculture business, Noble Agri.
Drug stent maker Biosensors said its third quarter net profit surged to $291.5 million from $13.3 million a year earlier, boosted by a one-off operating gain as a result of the acquisition of JW Medical Systems.
Raffles Education said its net profit in October-December fell 10% to $3.5 million, dragged by a fall in revenue from China due to lower enrolments in the country’s private institutions.
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Done Deals: Dec 30-Jan 6, 2012
February 8th, 2012 |
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The Upper Bukit Timah area saw some transactions towards the year-end and beginning of 2012. At the fullysold 172-unit Terrene located in Toh Tuck Drive, a 2,034 sq ft, three-bedroom apartment changed hands in a sub-sale for $2.2 million ($1,081 psf) early this year, according to a caveat lodged on Jan 5 with URA Realis. Your guide to condo and landed property deals. Plus: The latest home loans on offer.
Done Deals: Jan 3-17, 2012
February 8th, 2012 |
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The Upper Bukit Timah area saw some transactions towards the year-end and beginning of 2012. At the fullysold 172-unit Terrene located in Toh Tuck Drive, a 2,034 sq ft, three-bedroom apartment changed hands in a sub-sale for $2.2 million ($1,081 psf) early this year, according to a caveat lodged on Jan 5 with URA Realis. Your guide to condo and landed property deals. Plus: The latest home loans on offer.
STI adds 0.8% to 2,982.20 at closing
February 8th, 2012 |
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Straits Times Index added 0.8% to 2,982.20 at closing. About three stocks rose for each that fell in the 30-member gauge.
Oversea-Chinese Banking Corp rated ‘neutral’ by DMG
February 8th, 2012 |
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DMG & Partners Research in a Feb 6 research report says: “OCBC will be releasing its 4Q11 results on Feb 20. We are forecasting FY2012 net profit of $2.24 billion similar to consensus.
SATS rated ‘buy’ by Phillip Securities
February 8th, 2012 |
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Phillip Securities Research in a Feb 8 research report says: “SATS announced headline profit decline of 25% in 3QFY12 due to margin pressures and loss on disposal of Daniels Group of $5.5 million.
Sembcorp Marine rated ‘buy’ by Maybank-Kim Eng
February 8th, 2012 |
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Maybank-Kim Eng Research in a Feb 7 research report says: Sembcorp Marine (SMM) has announced that its Brazilian shipyard has secured a contract worth approximately US$792.5 million from Séte Brasil for the design and construction of a drillship.
CSE Global rated ‘hold’ by DBS
February 8th, 2012 |
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DBS Vickers Securities in a Feb 7 research report says: “CSE guided that 4Q 2011 net profit will be around 75% of $12.7 million net profit in Q3 2011 compared to its earlier expectations of sequentially higher profit. Thus, the expected net profit of $9.5 million in Q4 2011 is about 40% below our estimates.
Neptune Orient Lines rated ‘hold’ by Maybank-Kim Eng
February 8th, 2012 |
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Maybank-Kim Eng Research in a Feb 7 research report says: “NOL reported a 6% y-o-y increase in container shipping volumes for the six weeks from Nov 19, 2011 to Dec 30, 2011. This was helped by the burgeoning intra-Asia traffic growth.
Sheng Siong Group rated ‘outperform’ by CIMB
February 8th, 2012 |
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CIMB in a Feb 7 research report says: “Sheng Siong burst onto the local grocery retailing scene proper after 2000. Recessionary environments that supported the demand for budget items plus low store rentals allowed Sheng Siong to flourish.
Bumitama revives $199m Singapore IPO
February 8th, 2012 |
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Indonesian palm oil firm Bumitama Gunajaya Agro is reviving its US$160 million ($199 million) initial public offering in Singapore after shelving it in June, a signal that investors’ appetite for IPOs could be returning.
Bumitama plans to raise about $200 million through a listing in Singapore in the second quarter of the year, three sources with direct knowledge of the matter told Reuters.
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STI up 0.43%, or 12.61 points, at 2,970.39 by midday
February 8th, 2012 |
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Singapore’s benchmark index hit its highest level in six months, led by gains in property developers CapitaLand and CapitaMalls Asia.
By 1:00 p.m. on Wednesday, the Straits Times Index was up 0.43%, or 12.61 points, at 2,970.39, with Asian markets also hitting multi-month highs. The Singapore index has jumped more than 12% so far this year.
Around 1.5 billion shares worth $905.1 million were traded versus 1.5 billion shares worth $845.4 million at the same time on Tuesday.
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Interra up; CIMB highlights Myanmar exposure
February 8th, 2012 |
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Shares of Singapore’s petroleum exploration and production firm Interra Resources jumped by as much as 14% after brokerage CIMB said the firm may be a more attractive play on Myanmar than Yoma Strategic Holdings, reported Reuters.
By 11:49 a.m. on Wednesday, Interra shares were up 11.6% higher at $0.24 with 15.4 million shares traded, 1.3 times its average daily volume traded over the last five sessions. The shares have more than doubled this year.
China Sky says CEO has resigned
February 8th, 2012 |
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Singapore-listed China Sky Chemical Fibre said on Wednesday its Chief Executive Officer Huang Zhong Xuan had resigned due to health reasons, reported Reuters.
The textile manufacturer has been caught in a row with Singapore Exchange after the bourse directed the company last year to hire an external auditor to probe its financial dealings, a move rejected by China Sky.
Last month, SGX backed down from a rare move to tap the courts to force China Sky to appoint an external auditor. China Sky shares have been suspended since November.
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Kim Eng starts CapitaMalls Asia as buy
February 8th, 2012 |
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Kim Eng Securities began coverage of Singapore’s CapitaMalls Asia which develops shopping malls, with a buy rating and set a target price of $1.92.
By 10:40 a.m., CapitaMalls Asia shares were up 1.8% at $1.42 and have gained about 26% so far this year.
Macquarie Group – Corporate moves
February 8th, 2012 |
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Alex Harvey has been appointed CEO, Asia wef February
Work experience: ED/global head, Telecommunications, Media, Entertainment and Technology (TMET) group, Macquarie Capital
Luzhou Bio-Chem Technology – Corporate moves
February 8th, 2012 |
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Wang De You has been appointed CEO wef Feb 1
Work experience: Group deputy GM, Luzhou Bio-Chem Technology Ltd; asst GM, Shandong Luzhou Food Group Co, Ltd
Temasek said to plan selling $377m ICICI bank stake
February 8th, 2012 |
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Temasek Holdings, Singapore’s state-owned investment company, is selling a stake valued at 14.9 billion rupees ($377 million) in ICICI Bank, according to two people with direct knowledge of the matter, reported Bloomberg.
Temasek has hired Goldman Sachs Group Inc. to help sell 15.9 million shares, or a 1.38% stake, the people said yesterday, declining to be identified because the details are private. The stock is being offered at a discount of as much as 1.5%, one person said. ICICI Bank rose 1.1% to 937.75 rupees in Mumbai yesterday.
Temasek joins Carlyle Group LP in selling stakes in Indian companies taking advantage of a rally that has made the benchmark BSE India Sensitive Index Asia’s best performing stock measure. ICICI Bank has risen 37% this year. Temasek and Government of Singapore Investment Corp., which manages more than US$100 billion ($124.3 billion) of the city-state’s reserves, have been reducing their stakes in ICICI Bank since 2009.
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