The Hour Glass Group, one of Asia’s leading luxury watch retailers, says it registered a 4% rise in revenues to $232.9 million for half year ended 30 September 2010 (1H FY2011).
Profit after tax for the first half year increased 38% to $16.0 million and earnings per share was 6.67 cents for the half year ended 30 September 2010 (1H FY2011).
Swiber Holdings, the integrated construction and support services provider to the offshore oil and gas industry, today reported a 27.5% increase in revenue to US$122.4 million ($157.7 million) for the three months ended September 30, 2010 (3QFY2010), as the group recognised contributions arising from the projects awarded to the group since November 2009, concentrated in South East Asia and South Asia.
Mainboard-listed property group Ho Bee Investment says net profit attributable to shareholders decreased 61% from $99.3 million in the previous year to $38.8 million, yielding 5.3 cents per share. Group turnover was 53% lower, from $209.2 million to $98.9 million, as a result of the higher revenue recognition from development properties in the same quarter last year.
Adrian Teng has been appointed group treasurer wef Dec 1
Work experience: Senior director, financial industry advisory services, Alvarez & Marsal, London
Yeo Jeu Nam has been appointed independent director wef Nov 1
Work experience: Director, PWC Consulting; MD, Radiance Consulting Pte Ltd
DBS Vickers Securities in a Nov 10 research report says: “Noble booked 3Q10 net profit of US$157.2 million (+19% y-o-y), bringing 9M10 earnings to US$358.1 million (-24% y-o-y) – representing 82% of our initial full year forecast, therefore ahead of our expectations.
T-Mobile is now the fifth carrier in the FreeMove Alliance, a group of otherwise European carriers supporting 400+ million business customers in a footprint of 59 countries. – T-Mobile has some new European friends and increased options for enterprise customers.
The FreeMove Alliance a group comprised of mobile carriers Deutsche Telekom, Orange, TeliaSonera and Telecom Italia Group, and with footprint of 59 countries and more than 404 million customers announced t…
Yanlord Land Group, the real-estate developer focused on developing high-end integrated commercial and residential property projects in high-growth cities in China, says net profit for the period from 1st January to 30th September 2010 (9M 2010) rose 10.5% to $228.7 million from $207.0 million in 9M 2009.
Recognised revenue in 9M 2010 was lower at $1,322.5 million compared to $1,385.6 million in 9M 2009 owing to a smaller GFA delivered in line with the group’s delivery schedule. However, increased delivery of wholly-owned projects in 9M 2010 drove net profit attributable to equity holders of the company up 10.5% to $228.7 million from $207.0 million in 9M 2009. Reflecting this increase, net attributable profit margin rose to 17.3% from 14.9% in 9M 2009.
VCE group also launches two new Cisco-Intel servers to power these modularized cloud computing systems. – One year ago, Cisco Systems, EMC, VMware
and Intel introduced a new, compartmentalized way to build cloud computing
systems with something they called vBlocks
with a small quot;v. quot;
On Nov. 8, under the banner of the VCE [Virtual
Computing Environment] joint venture, the four IT giant…
22 members of a criminal group have been arrested on suspicion that they shortchanged drivers who filled up at Oil Industry of Serbia (NIS) gas stations.
The group is believed to have made illegal gains of over EUR 2mn in this way.
Advanced Holdings, the supplier of proprietary process equipment and technologies, clean energy solutions and environmental technologies, today reported revenue of $18.8 million for the third quarter ended 30 September 2010 (3Q2010), representing a 3.3% increase as compared to the same period last year (3Q2009), and earnings of $1.4 million for the latest quarter.
Despite higher cost outlays, the group recorded a marginally higher gross profit margin of 31.2% in 3Q2010.
Managing Director Dr Wong Kar King says, “We are heartened by the improvement in our latest order book. We recently clinched four new contracts amounting to some $11 million in China and the Middle East, signifying renewed momentum in terms of demand. In addition, our opportune acquisition of both ATAC1 and AEPL2 earlier this year will enable the Group to capture a bigger slice of the market in the Oil and Gas as well as Petrochemicals and Chemicals business segments. Going forward, we will focus on further integrating our Group and improving our performance.”
{jcomments on}
Builder and developer Sim Lian Group recorded a profit before income tax of $14.8 million in 1QFY2011, 58% lower than the $35.5 million recorded in 1QFY2010.
Revenue from property development division contributed $92.0 million to the group’s revenue in 1QFY2011 compared to $156.3 million in 1QFY2010, a decrease of 41%.
The decrease in revenue from property development division was mainly due to decrease in revenue contribution from a project which obtained Temporary Occupation Permit in July 2009 and several other projects which showed decrease in revenue contribution due mainly to fewer number of units sold and lower percentage work done in 1QFY2011 compared to that in 1QFY2010.
Builder and developer Sim Lian Group recorded a profit before income tax of $14.8 million in 1QFY2011, 58% lower than the $35.5 million recorded in 1QFY2010.
Revenue from property development division contributed $92.0 million to the group’s revenue in 1QFY2011 compared to $156.3 million in 1QFY2010, a decrease of 41%.
The decrease in revenue from property development division was mainly due to decrease in revenue contribution from a project which obtained Temporary Occupation Permit in July 2009 and several other projects which showed decrease in revenue contribution due mainly to fewer number of units sold and lower percentage work done in 1QFY2011 compared to that in 1QFY2010.
CIMB in a Nov 4 research report says: “3Q10 profits ($722 million, flat q-o-q) was 8% above our expectations ($666 million) and the Street. 9M10 core profits was up 26% y-o-y and accounted for 79% of our full-year estimates.
Action Asia, the designer, manufacturer and assembler of video and audio mobile entertainment products, reported a 10.2% rise in net profit to $10.5 million for 3Q2010 against $9.5 million in 3Q2009. This was 34.5% higher than the net profit of S$7.8 million achieved in 2Q2010.
Group revenue was up 21.3% to $130.1 million in 3Q2010 from $107.2 million in 3Q2009. This was also 41.3% higher than $92.0 million in 2Q2010. The increase stemmed mainly from higher sales of consumer lifestyle entertainment products resulting from higher volume of orders received from the Group’s key multinational customers. These consumer lifestyle entertainment products were widely accepted by consumers, prompting a surge in demand for these products.
The group’s 3Q2010 net profit would have been higher if not for the increased foreign exchange loss of $1.07 million resulting from a weakening US Dollar. The group’s forex loss in 2Q2010 was $0.39 million.
The group has announced an interim cash dividend of 0.50 cent per share for 3Q2010. This is the second cash dividend announced in FY2010. The interim dividend will be paid on 1 December 2010.
{jcomments on}
The following companies may have unusual price movements in trading today, say Thomson Reuters and Bloomberg. Share prices are from the previous close. Singapore’s Straits Times Index rose 0.6% to 3,224.97.
Bulk-shipping companies: The Baltic Dry Index, which measures the cost of shipping commodities, fell 2.2% in London yesterday, taking its five-day decline to 8.7%. Mercator Lines (Singapore) (MRLN SP), an Indian bulk carrier, slid 1.8% to 27.5 cents. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, climbed 3.9% to $14.76.
Focus will be on mortgage growth in tough margin environment, how bank is faring in competitive SME loan sector.
Zhou Jia Lin has been appointed non-executive non-independent director wef Oct 26
Work experience: Director, Lissington Ltd; director, Pinnacle Investment Ltd
Jenaline Low has been appointed acting CFO wef Nov 1
Work experience: GM, NTUC Healthcare Cooperative Ltd; sale & marketing director/COO/CEO, NTUC LearningHub Pte Ltd; marketing director, Beans Factory Pte Ltd
