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SIA +3.1%; May struggle to meet demand: Kim Eng

July 28th, 2010 | No Comments

Singapore Airlines (C6L.SG) +3.1% at three-month high of $15.48 on above-average volume, extending yesterday’s 17.6% gain, as investors remain hopeful carrier’s earnings growth momentum will gain traction following better-than-expected results for fiscal 1Q11 ended June, according to Dow Jones.

“Our key concern is that SIA will be unable to deploy sufficient passenger capacity to keep pace with demand,” says Kim Eng Securities analyst Rohan Suppiah.

1Q11 earnings at $252.5 million vs $307.1 million loss year earlier, $236 million profit tipped in Dow Jones poll. Having convincingly cleared $15.00 for first time since April, immediate resistance at $15.60 (April 27 peak).

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SIA looks for new CEO to replace Chew: Update

July 27th, 2010 | No Comments

Singapore Airlines, the world’s second-largest carrier by market value, said it is considering “several” candidates to become chief executive officer as Chew Choon Seng signaled that he will step down.

“It’s at the mercy of the board, but I am getting on in years,” Chew, who turns 64 today, said after a shareholders meeting in Singapore. “I should move on.”

SIA shares rise after profit beats estimate

July 27th, 2010 | No Comments

Singapore Airlines, the world’s second-largest carrier by market value, rose the most in more than two weeks after posting better-than-estimated first-quarter profit and saying a recovery in demand will continue.

The carrier climbed 1.8% to $15.02 in the city- state. The airline reported a net income of $252.5 million after the market closed yesterday, beating the $162.4 million average of four analyst estimates compiled by Bloomberg.

SIA cut to Outperform by CLSA; Trims target

July 27th, 2010 | No Comments

CLSA downgrades Singapore Airlines (C6L.SG) to Outperform from Buy, trims target price to $18.08 from $18.44 after lowering FY11–12 earnings forecasts by 13–9% to assume higher fuel costs, lower investment earnings, according to Dow Jones.

CLSA notes fuel costs +42% on-year in fiscal 1Q11 ended June vs house’s +35% forecast. Says 1Q11 net profit of $253 million came in 26% below house’s estimate, but revenue trend remains positive. Adds balance sheet remains strong with cash hoard at $5.3 billion.

Shares +1.8% at $15.02.

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July 27: F&N, Parkway, SIA, Raffles Medical, RSH

July 27th, 2010 | No Comments

Singapore shares are likely to rise on Tuesday after encouraging US home sales data lifted stocks overnight. Stocks may also get a boost after Malaysia’s Khazanah raised its bid for healthcare operator Parkway and Japan’s Kirin bought a stake in food and property firm Fraser & Neave at a 15% premium to the last closing price. Singapore’s Straits Times Index fell 0.2% to 2,966.99.

SIA’s profit tops estimates on travel rebound: Update

July 26th, 2010 | No Comments

Singapore Airlines, the world’s second-largest carrier by market value, posted a better-than- estimated quarterly profit as a rebound in air-travel demand helped it to fill more seats.

Net income totaled $252.5 million compared with a loss of $307.1 million a year earlier, the carrier said in a statement today. That beat the $162.4 million average of four analyst estimates compiled by Bloomberg. First-quarter sales rose 21% to $3.5 billion.

SIA posts 1Q net profit of $253m

July 26th, 2010 | No Comments

Singapore Airlines says the group earned a net profit of $253 million in April to June 2010. This was a turnaround of $560 million from the loss of $307 million recorded in the same quarter a year ago.

Group revenue at $3,466 million grew 20.7% (+$594 million), reflecting the recovery in load factors and yields.

SIA posts third consecutive profit on travel rebound

July 26th, 2010 | No Comments

Singapore Airlines, the world’s second-largest carrier by market value, posted a third straight quarterly profit as a rebound in air-travel demand helped it to fill more seats.

Net income totaled $252.5 million compared with a loss of $307.1 million a year earlier, the carrier said in a statement today.

That beat the $162.4 million average of four analyst estimates compiled by Bloomberg.

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SIA Engineering +1.7%; Defensive sector play: JPMorgan

July 26th, 2010 | No Comments

SIA Engineering (S59.SG) +1.7% at $4.20, just off new 52-week high of $4.24 set in early trade, as investors hopeful aircraft maintenance arm of Singapore Airlines (C6L.SG) will continue to gain from rebound in global aviation industry, says Dow Jones.

Optimism underpinned by 57% on-year rise in fiscal 1Q11 net profit to $70.8 million.

July 26: Raffles Medical, RSH, SIA Engineering, Frasers Centrepoint Trust, Parkway

July 26th, 2010 | No Comments

Singapore shares may rise on Monday, as investors will take comfort from news that most European banks passed stress tests supporting risky assets.

Singapore’s benchmark Straits Times Index (.FTSTI) rose 0.60% on Friday to 2,973.47 points.

Singapore’s final second quarter private home prices were revised to a 5.3% gain from the first quarter, versus the previous 5.2% flash estimate released earlier July. The URA private home index rose for a fourth-straight quarter.

SIA Engineering posts 57% rise in 1Q group profit to $70.8m

July 23rd, 2010 | No Comments

SIA Engineering Company says it recorded a profit attributable to shareholders of the company of $70.8 million, an increase of $25.7 million or 57.0% from the same quarter last year. The result was in line with the recovery in the aviation industry, says SIA Engineering.

Revenue rose $44.1 million or 18.1% to $288.3 million over the same period last year. This was primarily contributed by airframe maintenance and component overhaul work and fleet management programme revenue. Expenditure increased by a lower $20.2 million or 8.7% to $252.1 million mainly reflecting higher material and staff costs to support the increase in maintenance, repair and overhaul work.

SIA Engineering biggest threat to SATS: UOB

July 23rd, 2010 | No Comments

SIA Engineering (S59.SG) poses biggest threat to Singapore Airport Terminal Services (S58.SG) if it secures ground-handling licence at Singapore’s Changi Airport, but overall impact on latter’s earnings could still be minimal, says UOB KayHian, according to Dow Jones.

UOB KayHian notes SIA Engineering, one of four companies short-listed for Changi’s third ground-handling licence, may be keen to expand into aircraft interior cleaning, area which SATS specialises in and accounts for $40–$50 million of SATS’ revenue, with Singapore Airlines (C6L.SG) accounting for bulk of this amount.

July 23: Keppel, SIA, Cosco, SGX, Anwell Technologies, Swiber

July 23rd, 2010 | No Comments

Singapore shares may be lifted on Friday after strong earnings from US economic bellwethers, such as 3M (MMM.N) and Caterpillar (CAT.N), boosted investor confidence and led to a rebound on Wall Street.

Singapore’s benchmark Straits Times Index (.FTSTI) rose 1.01% on Thursday to 2,955.67 points. Here are some stocks and factors to watch:

SIA boosts frequency on rebound in travel

July 22nd, 2010 | No Comments

Singapore Airlines, the world’s second-largest airline by market value, will add more flights to cities including Los Angeles and Moscow in response to a global rebound in travel.

Capacity to Russia and the U.S. will increase, with flights on the Singapore-Los Angeles and Singapore-Moscow-Houston sectors operating daily, the airline said in an e-mailed statement today. The new schedules are for the northern winter period of Oct. 31 to March 26, the airline said.

SIA increases frequency in Northern winter schedule

July 22nd, 2010 | No Comments

Singapore Airlines said it will increase the frequency in its northen winter schedule, adding capacity on flights to Russia, the US, Europe, North Asia and Australia, according to an e-mailed statement today.

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SIA off 0.8%; Slower growth expected ahead, says CIMB

July 16th, 2010 | No Comments

Singapore Airlines’ (C6L.SG) improved June operating performance fails to rub off on share price, off 0.8% at $14.92, as soft broad market conditions keeping buyers at bay, says Dow Jones.

Still, selling activity light as volume thin. Price likely to hold above 10-day moving average, last at $14.76.

July 16: SIA, M1, ComfortDelGro, Cambridge Industrial Trust, Chasen Holdings

July 16th, 2010 | No Comments

Singapore shares may see a weak start on Friday, as US stocks ended little changed overnight and economic concerns keep global markets subdued.

Singapore’s benchmark Straits Times Index (.FTSTI) fell 0.31% on Thursday to 2,943.55 points.

Singapore Airlines (SIAL.SI), the world’s second-biggest airline by market value, said on Thursday it filled 71% of the space available on its planes for passengers and cargo in June. The figure was higher than the 69.1% recorded in May and 67.6% in June last year.

SIA Engineering announces new service agreement for CEO

July 9th, 2010 | No Comments

SIA Engineering announced a new service agreement for its president and chief executive officer, William Tan Seng Koon. The new contract will be for three years, from 1 July 2010 to 30 June 2013, and will supersede Tan’s current employment terms, according to a statement sent to the Singapore exchange.

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Semiconductor Sales Jump 46.7 Percent in May: SIA

July 6th, 2010 | No Comments

Sales of semiconductors grew to $24.7 billion in May, a 4.5 percent increase over April and a 47.6 percent jump over May 2009, when the recession was hitting hard. Demand came from various sectors, including PCs, cell phones and corporate IT, according to the SIA. – The semiconductor industry is continuing its uphill climb, according to market numbers released July 6.
SIA (Semiconductor Industry Association) announced
that sales in May grew to $24.7 billion, a 4.5 percent increase over
April when sales were $23.6 billion and a 47.6 percent hike over the
$16…

June 30: Sembcorp, SIA, China Fishery, Boustead Singapore

June 30th, 2010 | No Comments

Singapore’s benchmark Straits Times Index <.FTSTI> fell 1.38% on Tuesday to 2,830.34 points. Singapore stocks are likely to come under pressure on Wednesday after US shares tumbled overnight due to rising doubts over the stability of Europe’s banks and increasing concerns over the global economic outlook.

Sembcorp Industries says it will provide industrial wastewater treatment services to German specialty chemicals company Lanxess’ butyl rubber facility from a new integrated industrial wastewater treatment plant to be located in Tembusu district of Singapore’s Jurong Island petrochemical cluster. Expected to be completed by the second quarter of 2012 at an investment cost of $40 million, the new facility will more than double Sembcorp’s current industrial wastewater treatment capacity on Jurong Island, and will be sufficient to serve Lanxess as well as further customers.

Posts Tagged ‘SIA’

SIA +3.1%; May struggle to meet demand: Kim Eng

SIA looks for new CEO to replace Chew: Update

SIA shares rise after profit beats estimate

SIA cut to Outperform by CLSA; Trims target

July 27: F&N, Parkway, SIA, Raffles Medical, RSH

SIA’s profit tops estimates on travel rebound: Update

SIA posts third consecutive profit on travel rebound

SIA Engineering +1.7%; Defensive sector play: JPMorgan

July 26: Raffles Medical, RSH, SIA Engineering, Frasers Centrepoint Trust, Parkway

SIA Engineering biggest threat to SATS: UOB

July 23: Keppel, SIA, Cosco, SGX, Anwell Technologies, Swiber

SIA boosts frequency on rebound in travel

SIA increases frequency in Northern winter schedule

SIA off 0.8%; Slower growth expected ahead, says CIMB

July 16: SIA, M1, ComfortDelGro, Cambridge Industrial Trust, Chasen Holdings

SIA Engineering announces new service agreement for CEO

Semiconductor Sales Jump 46.7 Percent in May: SIA

June 30: Sembcorp, SIA, China Fishery, Boustead Singapore

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