CIMB in a Nov 26 research report says: “CWT will be acquiring a 60% equity stake in South African freight forwarder, Aquarius Shipping International (ASI). We expect earnings accretion from FY2011 onwards. CWT has also been pursuing organic growth in its commodities logistics business in Turkey and Indonesia.
Posts Tagged ‘CWT’
CWT target, estimates raised by CWT; Keeps Outperform
November 26th, 2010 |
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CIMB raises CWT (C14.SG) target to $1.72 from $1.12, maintains Outperform.
CIMB notes CWT will be acquiring 60% equity stake in South African freight forwarder, Aquarius Shipping International (ASI).
“We expect earnings accretion from FY11 onwards. CWT has also been pursuing organic growth in its commodities logistics business in Turkey and Indonesia.”
CWT reports dip in net profit of $5.5m in 3Q
November 8th, 2010 |
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CWT, the provider of integrated logistics solutions, today announced a net profit attributable to owners of $5.5 million for the three months ended 30 September 2010 (3QFY10), which is slightly lower than the $ 6.0 million recorded in 3QFY09.
For the quarter under review, the group recorded revenue of $192.7 million, up 23% from $156.9 million in 3QFY09 on the back of higher business volumes transacted under Freight Logistics, including maiden contribution from its newly established offices in Slovenia and Portugal. In addition to that, its Contract Logistics arm successfully secured new customer wins, further contributing to the top line performance for 3QFY10.
CWT sets up futures commission merchant subsidiary
November 2nd, 2010 |
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CWT, the provider of integrated logistics solutions, today announced the formation of a new company, Straits Financial LLC, to clear futures and derivatives trades for its clients. Presently, the company is in the process of registering with the National Futures Association (NFA) as a United States Futures Commission Merchant (FCM) and applying for clearing memberships with the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT).
Carlson Wagonlit Travel – Corporate moves
October 27th, 2010 |
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Nick Vournakis has been appointed VP, CWT Solutions Group, Global wef October 2010
Work experience: Senior VP/GM, CWT Canada; VP, CWT Solutions Group, North America
CWT +3.8%; Candidate For privatisation: Kim Eng
September 6th, 2010 |
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CWT (C14.SG) +3.8% at almost 4-week high $0.945 on hopes logistics group may join growing list of companies being taken private in past months, including Design Studio Furniture (D11.SG), Low Keng Huat (F1E.SG), MCL Land (M25.SG), says Dow Jones.
CWT +3.6% on $0.06/share special dividend
August 5th, 2010 |
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CWT (C14.SG) +3.6% at $1.01 in active trade, above $1.00 for first time since April, as logistics group offers special interim dividend of $0.06/share following sale of 2 industrial properties earlier this year to Cache Logistics Trust (K2LU.SG), which listed in April, according to Dow Jones.
One-time gain of $147.6 million from divestment boosted CWT’s 2Q10 earnings to record $154.4 million vs $8.7 million year earlier. Excluding gain, operating profit down 16.5% at $8.8 million on lower margins due to higher start-up costs for new projects.
CWT posts 2Q net earnings of $155.4m from sale and leaseback of logistics assets
August 5th, 2010 |
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CWT, the provider of integrated logistics solutions, announced a net profit attributable to owners of $155.4 million for the three months ended 30 June 2010 (2QFY10) from $8.71 million in 2QFY09. Revenue for the quarter grew 24% to $182.8 million from $146.9 million.
For the half year (1HFY10), net profit grew to $166.1 million from $17.9 million.
CWT +1.1%; Potential weakness ahead: Charts
July 21st, 2010 |
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CWT (C14.SG) +1.1% at $0.92 in thin trade, still struggling to clear $0.94 resistance level, says Dow Jones.
Chart action shows stock on verge of forming Double Top, which suggests weakness ahead (first top set in mid-June, second being formed currently, with trough at $0.85).
CWT upgraded to Outperform from Neutral by CIMB
June 11th, 2010 |
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CIMB has upgraded CWT (C14.SG) to Outperform from Neutral on view valuations more reasonable after underperformance in last 3 months, says Dow Jones.
CWT opens CWT Commodity Hub
May 11th, 2010 |
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CWT Limited, the provider of supply chain logistics solutions, today official opened CWT Commodity Hub to provide more integrated logistics and regional distribution hub services for the Asia Pacific region.
The 2.3 million sq ft warehouse complex, located near port terminals along Penjuru Road, is the largest in Singapore.
CWT upgraded to ‘neutral’ by CIMB from ‘underperform’
May 7th, 2010 |
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CIMB has upgraded CWT (C14.SG) to “neutral” from “underperform” on improved valuations after recent pullback, according to Dow Jones.
CWT posts 27% rise in 1Q earnings to $12m
May 6th, 2010 |
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CWT, the provider of integrated logistics solutions, has posted a net profit attributable to owners of $11.7 million for the first quarter ended 31 March 2010 (1QFY10). Revenue rose 9% to $167 million from $153 million in 1QFY10 revenue.
CWT started at ‘buy’ by UOB KayHian, targets $1.35
April 28th, 2010 |
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UOB KayHian has started CWT (C14.SG) at “buy” with target price of $1.35 based on PE/growth valuation of 1.0x on its 2-year EPS CAGR for 2011–12, according to Dow Jones.
CIMB starts CWT at ‘underperform’, $1 target
April 13th, 2010 |
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CIMB has started CWT (C14.SG) at “underperform” with $1 target, pegged at 14x FY11 P/E, according to Dow Jones.
CWT posts 54% drop in net profit to $34m for FY09
February 25th, 2010 |
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CWT, the supply chain logistics solutions provider, has posted a net profit attributable to shareholders of $33.9 million for the financial year ended 31 December 2009 (FY09), a decrease of 54% from $73.9 million in FY08.
Revenue grew 4% to $623.9 million, with major contributions from the mainstay warehousing segment and the soft commodity logistics business in Europe. This was partially offset by the decrease in contribution from the Non-Vessel Operating Common Carrier (NVOCC) freight forwarding business due to lower freight rates and volume in FY09.
CWT unit Indeco Engineers secures $30m maintenance contract with SAF
February 4th, 2010 |
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CWT says wholly-owned subsidiary, Indeco Engineers, has secured a contract with the Singapore Armed Forces to maintain military vehicles and equipment. The six-year contract for the maintenance services is estimated to be worth more than $30 million.
The contract requires proactive engineering, maintenance and management services such as maintenance scheduling, servicing and repair for a fleet of military trucks. The contract is effective from Jan 20.