ANALYSIS: Users group president says there are several lessons to be learned by the record-setting court judgment. – The recent federal intellectual property case that resulted in a record-setting $1.3 billion judgment to Oracle for software and documentation misdeeds by SAP appears to have caused a far-reaching effect on the IT business.
Oracle, in a lawsuit originally filed in 2007, claimed that SAP — throug…
CIMB in a Nov 26 research report says: “4Q10 net profit of US$15.7 million (+69% y-o-y) was below our expectations, forming 12% of our FY2010 estimate and consensus. FY2010 net profit of US$116.5 million (+24% y-o-y) represents 87% of our FY2010 estimate and consensus.
Technology Assurance Group and Apparent plan to offer businesses UC performance management education. – Apparent Networks, a provider of remote performance management solutions,
today announced a technology alliance with Technology Assurance Group, an
international organization of independently owned unified communications
companies. Together, Apparent Networks and TAG
plan to deliver RPM services…
Kim Eng Research in a Nov 24 research report says: “Revenue from the marine division plunged by 58.3% y-o-y to US$4.4 million in 3Q10 as five vessels were dry-docked for major overhaul and equipment upgrade to take advantage of the current lull period. The oilfield projects division was the only bright spot, scoring a remarkable 378.4% jump in revenue to US$4.6 million.
Tan Hon Yih has been appointed group financial controller wef Nov 15
Work experience: Manager, business analysis & control, Far East Organization; accounting group head, PT JAS Airport Services, Jakarta
Tse To Chung, Lawrence has been appointed independent director wef Nov 19
Work experience: Partner, Joyce Chan & Co, Hong Kong; more than 17 years of legal practice experience
Singapore shares may open higher today after Wall Street rallied overnight, as investors put aside worries about swirling global problems and focused on an improvement in the labour market and consumer sentiment. The following companies may have unusual price changes in Singapore trading today, say Bloomberg and Thomson Reuters. Share prices are from the previous close. Singapore’s Straits Times Index gained 0.3% to 3,137.01.
Palm-oil producers: Crude palm oil for February delivery rose 1.7% in Kuala Lumpur yesterday, snapping its two-day drop of 6.3%. Golden Agri-Resources (GGR SP), the world’s second- biggest palm-oil producer, advanced 3.7% to 71 cents. Indofood Agri Resources (IFAR SP), the palm-oil unit of Indonesia’s biggest noodle maker, jumped 4.7% to $2.65. Wilmar International (WIL SP), the world’s largest palm-oil trader, rose 0.2% to $6.03.
Leong Mei Theng has been appointed group financial controller wef Nov 18
Work experience: Finance manager, Europtronic Group Ltd; accountant, Europtronic Group Ltd
Broadway Industrial Group says it may have suffered a loss of RMB 2 million ($400,000) as the result of the fire which broke out on the morning of Nov 19 out at its rented factory premises of its subsidiary, Shenzhen Broadway Total Packaging Solution Co., in Shenzhen, China.
But Broadway says the actual loss could be lower as the facility is covered by fire insurance and expects “minimal impact” to the company’s overall consolidated financials for the year ending Dec 31 2010.
Broadway says although there were no casualties caused by the fire and no serious damage to equipment and machinery, some stocks were damaged as the fire broke out in the storage area of the facility.
The affected customers have since been informed and the company has taken measures to ensure minimal disruption to its operations.
The cause of the fire is under investigation.
The company has eight foam plastic facilities in China, which serve a diversified base of multinational customers in the consumer electronics, automotive, construction and other industries.
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Koh Brothers Group, the construction, property development and specialist engineering solutions provider, says it submitted the winning bid of $37.78 million for national water agency PUB’s Geylang River project.
Beginning from Dunman Road and ending at Guillemard Road, the project is part of PUB’s Active, Beautiful, Clean Waters (ABC Waters) programme, which seeks to transform Singapore’s reservoirs and waterways into beautiful and clean streams, rivers and lakes.
OCBC upgrades Noble Group (N21.SG) to Buy from Hold, raises target to $2.59 from $1.97; after strong 3Q10, says earnings to accelerate in FY11 as group begins to reap fruits of recent pipeline investments, earnings will remain buoyed by strong underlying fundamentals for commodities such as energy, agriculture. “The group has spent US$2.8 billion ($3.6 billion) expanding its pipeline since 2007 and several of these investments are nearing maturity, adding a further boost to earnings from 4Q10 onwards.” Notes, Noble has reaffirmed target of US$1 billion earnings over next 3 years, implying 24% CAGR FY09-FY13; house raises FY10, FY11 earnings estimates by 25%, 12% respectively. Adds “with its strong balance sheet, the group remains well-positioned to capture any investment opportunities that may arise.” Notes key risks include longer-than-expected gestation periods for investments, continued USD/SGD weakness, which could lead to translation losses. Shares +0.5% at $2.09.
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Andrew William Khine has been appointed group financial controller wef Nov 15
Work experience: Group financial controller, Sin Heng Heavy Machinery Ltd; group finance manager/controller, Aver Asia (S) Pte Ltd
Goh Chin Wah Johnny has been appointed CFO wef Nov 11
Work experience: Group financial controller, King Plastic Pte Ltd; group financial controller, China Minzhang Food Corp Pte Ltd
Kenichiro Uchimura has been appointed non-ED wef Nov 9
Work experience: Senior manager/head, post-merger integration group global business planning & devt dept, KDDI Corp; president, KDDI Korea Ltd
Etika International Holdings, one of the world’s largest manufacturers and distributors of sweetened condensed milk and a leading regional Food and Beverage (F&B) Group, today announced another solid performance for the full year ended September 30, 2010 (FY2010). Profit attributable to equity holders rose 7.2%, rising RM4.5 million ($1.87 million) to RM66.2 million, on the back of a 12.8% increase in group turnover to RM677.7 million.
Group turnover for FY2010 was RM677.7 million, registering a RM77.1 million, or 12.8% increase over the previous corresponding period. The higher revenue was recorded across all divisions with the exception of the Packaging Division.
Yau Thiam Hwa has been appointed independent director/audit committee member wef Nov 3
Work experience: CFO, Megachem Ltd
Phuan Phui Seck Brian has been appointed independent director/audit committee member wef Nov 1
Work experience: Non-executive chairman, Paragon Group of Companies
