ICT magazine

Goldman Sachs has cut Straits Asia Resources’ (AJ1.SG) target price to $1.70 from $1.85 on lower earnings estimates but maintains “sell” rating with stock on conviction sell list, reported Dow Jones Newswires. The brokerage is cutting FY11, FY12 earnings estimates by 10%, 4% respectively, on lower production assumptions for ...

DBS Vickers has downgraded Straits Asia Resources (AJ1.SG) to “hold” from “buy”, citing lack of catalysts and rich valuations vs Indonesian peers. It has also cut the target price to $2.30 from $3.20 after reducing FY10-11 EPS estimates by 15%-17% to assume lower volume, higher operating costs, reported Dow Jones ...

GAME DEVELOPERS CONFERENCE, San Francisco, March 10, 2010 – Intel Corporation today previewed platforms featuring the latest Intel® Core™ i7 Extreme Edition processor and announced the latest release of Intel® Graphics Performance Analyzers (Intel® GPA) that will aid developers in optimizing ...

Singapore-listed palm oil planter First Resources (FRLD.SI) said on Monday it was aiming to grow its output by 10% this year to around 400,000 tonnes.    The company's chief executive Ciliandra Fangiono told Reuters in an interview the company plans to increase its plantation area in Indonesia by 15,000-20,000 hectares this year, ...

First Resources, the oil palm plantation company, increased its net profit attributable to shareholders (PATMI) by 7% to Rp1,169 billion ($158 million) for the year ended 31 December 2009 (FY2009). This was despite a 18% year-on-year (y-o-y) fall in revenue which was due mainly to a 24% drop in average ...

DBS Vickers Securities in a Feb 25 research report says: "SAR reported 4Q09 net profit of US$38.1m, in line with our expectations, and stable on a q-o-q basis. 4Q09 revenue came in slightly better than expected, at US$233m, and overall FY09 revenue of US$748m was 28% higher y-o-y, on the ...

OCBC Investment Research in a Feb 25 research report says: "Straits Asia Resources' (SAR) FY09 net profit of US$133.5m (up 7.3%) was in line with our expectations but below consensus. The group delivered a 27.9% growth in revenue to US$748.4m, driven by stronger thermal coal prices and higher production volumes....

Interra Resources says the group generated a net profit after tax of US$1.82 million for the fourth quarter of 2009 (4Q FY2009), compared to a net loss after tax of US$0.34 million in 4Q 2008. Revenue increased by 5% to US$3.64 million from US$3.47 million due to higher weighted ...

Singapore’s benchmark Straits Times Index (.FTSTI) fell 0.7% to end at 2,762.14 yesterday. US stocks closed higher last night after Federal Reserve Chairman Ben Bernanke reassured lawmakers interest rates will remain low, promising more cheap money to investors. City Developments (CTDM.SI) posted a 77% rise in fourth quarter net ...

Straits Asia Resources announced a 7% increase in full-year net profit to US$133.5 million ($188 million) for FY2009. Jembayan mine led the boost in results, reaching 6.5 million tonnes in production, a 30% increase over FY2008. Steady support from the Sebuku mine production of 2 million tonnes in 2009 ...

UOB KayHian has upgraded Indofood Agri Resources (5JS.SG) to “buy” from “hold” on improved upside to its $2.54 target price following recent price weakness. The broker expects the plantation group to report robust 4Q09 earnings growth tomorrow on the back of 40% rise in international CPO prices, higher CPO ...

Pacific Andes Resources Development, the global frozen fish supplier, says it recorded stable revenue of HK$1,564.0 million ($285 million) for the first quarter of the financial year ending 28 September 2010 (1QFY2010) compared to HK$1,562.1 million in the same period last year. Revenue from the frozen fish supply chain ...

Singapore’s Straits Times Index climbed 1% to 2,747.42 as of the 12:30 p.m. trading break, snapping losses of 1.3% in the past three days, reported Bloomberg. Eight stocks advanced for each that fell on the 30-member gauge. Stocks on the measure trade at 14.7 times estimated earnings, compared with ...

Amidst the launching of Windows Vista and Windows 7; Windows XP remains steady as the most used Operating Systems in businesses and even for personal use hence, the need for windows driver to update it every now and then.

Mainboard-listed Straits Asia Resources says it has signed a five-year contract to supply coal from its Jembayan mine in East Kalimantan, Indonesia to the Adani Group. The Jembayan Mine produces two types of coal: Prangat and JMB, both known for their consistency in quality. Read more...

Technology giant IBM launches an initiative that includes sales and technical resources for IBM Software partners to help jump-start new business opportunities. - According to a Global Business Partner Profitability Survey conducted by Ronin Corporation and commissioned by IBM, 60 percent of IBM Software partners said they expect ...

OCBC Investments Research in a Jan 20 research report says: "Shares of Straits Asia Resources (SAR) have appreciated along with the recent increase in thermal coal prices. The current environment of high coal prices bodes well for SAR. While SAR has not provided official updates on its FY2010 contracts, we ...

DBS Vickers Securities in a Jan 18 research report says: "First Resources expanded its planted area by 9,635 ha in 9M09, mostly at its West Kalimantan land bank. We expect the group’s new planting to have swelled to 12k ha by the end of last year (result due out on ...

Macquarie Research in a Dec 18 research report says: “We forecast sales volumes to increase from 9.5mt in 2009 to 12mt in 2010, 16mt in 2011 and 20mt in 2012. This production ramp-up, combined with an improving coal price outlook, should lead to 84% earnings growth in 2011. Read more...

OCBC Investment Research in a Dec 2 research report says: "Straits Asia Resources (SAR) rallied by as much as 25% since we upgraded our rating a month ago. We advocate caution at current levels as positives appear to be reflected in the price. Read more...