Oxley Holdings Limited says all 41 apartment units of Loft@Holland were taken up within two hours of the soft launch today.
Demand was strong enough to require balloting to be conducted for all but two units.
On average, there were about three interested buyers per unit. The units were booked at prices up from $1,630 psf to $2,166 psf and the buyers were mainly Singaporeans.
Finland’s top refiner Neste Oil (NES1V.HE) expects its renewable diesel plant in Singapore to reach full capacity in six months, its chief executive said.
“It is a big refinery and we want to proceed slowly and see how it works and see if there are any bottlenecks,” Matti Lievonen told Reuters in an interview on Friday.
“It will take probably six months before full capacity will be reached. We are scaling up from 70,000 tonnes to 800,000 tonnes (annually),” he said.
DBS Vickers downgrades China Fishery Group (B0Z.SG) to Fully Valued from Hold, cuts target to $1.83 from $2.12; says FY10 results below expectations, largely due to weak contribution from South Pacific trawling operations, which made net loss of US$14 million ($18.4 million), results also affected by higher than-expected one-off expenses of US$5 million.
House cuts FY11, FY12 earnings estimates by 16%, 11%, now assumes harvest volume of around 140,000, 162,000 mt in FY11-12, down from 202,000 mt previously. Lower target based on 10x FY11F EPS (from blended FY10/11F previously), in line with global peers.
“With shares trading at 11.8x FY11F P/E, top end of peers’ range, we prefer to see more tangible results from South Pacific before we turn more positive on the counter.”
Shares +0.5% at $2.19.
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DBS Vickers downgrades Raffles Education (E6D.SG) to Fully Valued vs Hold, cuts target price to $0.25 vs $0.29 after lowering earnings estimate for FY11 by 15% to factor in weaker operating environment, higher costs. Flags stronger SGD vs RMB, declining student enrolment in China as key earnings risks. Says 1Q11 earnings, down 58% on-year at $5.9 million, weaker than expected. Shares flat at $0.28.
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British Foreign Secretary William Hague has stated that Britain fully supports Serbia’s EU integration. He added that he is in favor of improving economic cooperation between the two countries.
DBS Vickers downgrades Kencana Agri (F9M.SG) to Fully-Valued from Hold as stock has breached $0.35 target price, according to Dow Jones.
DBS Vickers says investors have more than priced-in plantation group’s 3-year volume CAGR of 25%, potential spike in next year’s earnings.
Notes stock trades at all-time high P/E of 19.6x 2011 earnings, driven by bigger peer Wilmar’s (F34.SG) recent move to take 20% stake in company for $80 million.
Shares down 2.4% at $0.405.
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Risks stemming from Europe’s debt crisis haven’t fully subsided even as the turmoil has had little impact on Singapore so far, Trade and Industry Minister Lim Hng Kiang said in parliament today.
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DBS Vickers Securities in a July 5 research report says: “There appears to be no shortage of IPOs in the pipeline, although actual IPO launches have been anaemic due to market conditions.
DBS Vickers has downgraded First Ship Lease Trust (D8DU.SG) to Fully Valued from Hold, citing risk to cash flow following recent seizure of two of its vessels by Singapore-based Daxin Petroleum, which claims it hasn’t been paid for bunker supplied to both ships, according to Dow Jones.
DBS has upgraded crane company Tat Hong (T03.SG) to Buy from Fully Valued after upgrading earnings CAGR forecast of 27% in FY11-12, according to Dow Jones.
DBS Vickers has downgraded China Sports International (FQ8.SG) to Fully Valued from Hold on concerns over weakening competitiveness, says Dow Jones.
The broker has cut its target price to $0.11 from $0.18, based on 5x FY10 P/E vs 6x previously, to account for lower liquidity, higher risk premium due to earnings risks.
Wilmar International said its Indonesian units have at all times been in compliance with local laws on value-added tax, according to a stock exchange statement. The palm oil producer and trader said the statement was issued in response to media reports.
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DBS Vickers Securities in a May 10 research report says: “Asia Environment reported sales of RMB121 million (+9% y-o-y), largely driven by higher O&M revenue as more BOT projects were commissioned compared to last year.
As of 2007, the bottom 50% of the U.S. population owned only one-half of one percent of all stocks, bonds and mutual funds in the U.S. On the other hand, the top 1% owned owned 50.9%.From the San Francisco Chronicle:Half of America has only 0.5% …
CapitaMall Trust (C38U.SG) is off 0.5% at $1.84 and continues to underperform rest of STI stocks, says Dow Jones.
Over the last three weeks, the stock has gained 2.2% vs STI +3.5% over same period.
Microsoft issued an official blog posting March 2 detailing its engineers thinking process behind the build of Internet Explorer 8, the latest version of its Web browser, and how it chooses to render certain Websites. According to the blog posting, some 19 percent of high-traffic Websites currently render in IE 8 standards. Microsoft is working to reduce the list of Websites that IE 8 needs a feature called Compatibility View in order to render all elements properly.
– As part of its drive to have as many Websites compatible with Internet
Explorer 8 as possible, Microsoft in a blog posting March 2
describes the thinking that went into how the browser chooses to render Websites.
For some sites, IE 8 needs a feature known as Compatibility View to render all
e…
DBS Vickers Securities in a Mar 2 research report says: “Asia Environment recorded RMB23.5m in losses in 4Q09 due to almost RMB20m of doubtful debt provisions and impairment charges. In addition to these one-off items, the company also charged higher staff expenses and associate losses of RMB7.8m on higher stake for Nantong water projects.
Gems TV Holdings says it will fully outsource its gemstone jewellery supply, in a move aimed at reducing operating costs, increasing supply chain efficiency and improving manufacturing flexibility.
Gems TV has used outsourced suppliers for a proportion of its inventory since inception, and has recently enjoyed higher profit margins from outsourced products. The company will be working with major suppliers in countries such as Thailand, India and China.
DBS Vickers Securities in a Jan 21 research report says: “Kreit’s 11.4% y-o-y jump in distribution income to $19.4 million (DPU 1.45 cents) is in line with expectations. This was achieved on a 13.8% rise in net property income to $13.4 million while revenue increased a higher 19.1% to $17 million.
