Daiwa forecasts Singapore Press Holdings (T39.SG) will report a 1Q FY11 adjusted net profit of $126.6 million (down 12.5% on year), “due primarily to a lack of property-development business in 1Q” (says Clementi Mall will contribute only in 2Q) on revenue of $344.0 million.
The house’s forecast is 9.6% above consensus “which we attribute to our forecast of continued strong advertising volume growth throughout FY11 due to a resilient domestic consumer economy.”
LMA +12.5% on share buyback, but volume light
LMA International (L24.SG) +12.5% at $0.315 on surgical mask maker’s $0.36/share stock buyback exercise for up to 10% of each investor’s stake.
While move will help bolster EPS, return some cash to shareholders, overall interest remains low, in line with stock’s historically limited following.
Small market cap of $157 million, based on yesterday’s closing price, means LMA not on radar screens of many institutional investors. Orderbook quotes suggest minimal upside from current levels.
Offer valid till Dec. 29, with payment due Jan. 17. LMA will also pay interim dividend of $0.01/share on Feb. 1. As at end-September, company has US$43.9 million ($57.3 million) in cash, or about $0.10/share.
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Lorenzo International, the vertically-integrated branded retailer and exporter in the region which engages in the design, manufacture, assembly and distribution of conceptualised lifestyle furniture, announced its plan to acquire 49% of home-grown Cheng Meng Furniture Company, which is one of the pioneers in Singapore for interior fitting, furnishing, interior decoration and custom-made furniture.
Cheng Meng Furniture, a reputed brand with over 60 years of tradition, is known to all major hotel developers in Singapore and many others worldwide. Some of the recent hospitality projects include Crockford Tower at Resorts World Sentosa, Intercontinental Hotel in New York, and Intercontinental Resort in Sanya China, amongst many others.
Daiwa has cut Ascott Residence Trust (A68U.SG) to Hold from Outperform, saying recovery in serviced residence operator’s business will be protracted: “Some of its key markets are not yet in clear recovery mode.”
Citigroup is maintaining its “buy” rating on CapitaCommercial Trust (C61U.SG), raising its target to $1.25 from $1.11 after better-than-expected 1Q DPU, according to Dow Jones.
The new Intel 40GB drive is priced at $125 per 1,000 quantity and is positioned for lower-end netbooks and dual-drive/boot drive desktops. Could an SSD price war be in the making?
– Intel, the world’s largest processor maker, made another move into
the solid-state storage disk market on March 15 when it unveiled its
latest high-performance wholesale SSD from the Intel-Micron
partnership: the X25-V Value SATA SSD.
The new Intel 40GB drive is priced at $125 per 1,000 qua…
Intel has announced the latest edition to its award-winning solid-state drive family with the Intel®: X25-V Value SATA SSD. Priced at $125, the 40 gigabyte (GB) drive is aimed at value segment netbooks and dual-drive/boot drive desktop set-ups to offer users the performance and reliability advantages of solid-state computing at an affordable, entry-level price. Learn more about Intel solid-state drives.
Industrial fishing company China Fishery Group said group revenue declined marginally by 3.2% from US$104.8 million ($148 million) to US$101.4 million for the first quarter of the financial year ending 28 September 2010 (1QFY2010).
The group’s trawling operations achieved an increase of 18.2% in revenue from US$74.6 million to US$88.2 million due mainly to increased catch from un-utilised fishing quota from previous quarters.
Late Night Music Lineups
Can’t make it to any shows this week? Check out live music on the tube…
Late Show with David Letterman
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Mon, January 25 – Nick Jonas & the Administration (Repeat)
Tue, January 26 – The Low Anthem (Repeat)
Wed, January 27 – Findlay Brown (Repeat)
Thu, January 28 – The HotRats (Repeat)
Fri, January 29 – Julian Casablancas (Repeat)
Tue, January 26 – Silversun Pickups
Wed, January 27 – Mayer Hawthorne & The County
Fri, January 29 – John Mayer
Late Late Show with Craig Ferguson
Thu, January 28 – Wilco
Fri, January 29 – Corinne Bailey Rae
Mon, January 25 – Shwayze (Repeat)
Wed, January 27 – Lenny Clarke (Repeat)
Thu, January 28 – Ringo Starr (Repeat)
Fri, January 29 – Ke$ha (Repeat)
Mon, January 25 – Franz Ferdinand (Repeat)
Tue, January 26 – Snoop Dogg (Repeat)
Wed, January 27 – Cold War Kids (Repeat)
Thu, January 28 – Lily Allen (Repeat)
Fri, January 29 – Phoenix (Repeat)
Other Shows of Interest
Sat, January 30 – Saturday Night Live featuring Michael Buble
Sat, January 30 – Austin City Limits TV Show featuring Steve Earle
Some 125 pilot whales died in New Zealand beach strandings over the weekend – but holiday-makers and conservation workers managed to coax 43 others back out to sea. Rescuers monitored the survivors as they swam away from Colville Beach on North Island’s Coromandel peninsula, and yesterday they
SANTA CLARA, Calif., Nov. 16, 2009 –Intel Corporation today announced that its board of directors has approved a 12.5 percent increase in the quarterly cash dividend to 15.75 cents per share (63 cents per share on an annual basis), beginning with the dividend that will be declared in the first quarter of 2010.
SANTA CLARA, Calif., Nov. 16, 2009 –Intel Corporation today announced that its board of directors has approved a 12.5 percent increase in the quarterly cash dividend to 15.75 cents per share (63 cents per share on an annual basis), beginning with the dividend that will be declared in the first quarter of 2010.
