Finance News - 6 Nov - AsianBookie.Com Forums

06-Nov 2012 Tuesday 8:24 AM (4190 days ago)

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Singapore's manufacturing activity contracted for a fourth consecutive month in October as
orders fell further, a business survey showed, bucking the tepid signs of improvement in other parts of Asia.
Singapore's Purchasing Manager's index (PMI) slipped deeper
into negative territory last month, dropping to 48.3 points from
September's 48.7 points, the Singapore Institute of Purchasing &
Materials Management (SIPMM) said on Monday.
A PMI reading below 50 shows activity is contracting.
"The dip in the overall PMI was attributed to a further
decline in new orders, new export orders as well as production
output," SIPMM said in a statement.
"Employment continued to contract for its 16th consecutive
month," the institute added.
The drop in Singapore's PMI reading contrasts with Hong
Kong, where a PMI compiled by HSBC rebounded to positive
territory in October as output and employment increased.
HSBC's services PMI for China slipped to 53.5 in October
from September's four-month higher of 54.3.
"Despite the moderation of services activity growth, the
Chinese economy is gradually bottoming out as the
filtering-through of earlier easing policy is boosting domestic
demand," HSBC said in a note accompanying its report.
A separate PMI for Singapore's electronics sector weakened
as well, falling to 47.5 in October from 50.0 in September,
SIPMM said.
Singapore's economy contracted an annualised and seasonally
adjusted 1.5 percent in the third quarter, and the city-state
escaped falling into a recession only because gross domestic
product data was revised to show the economy grew slightly in
the second quarter.
The Monetary Authority of Singapore reiterated last week the
economy is likely to grow by 1.5 to 2.5 percent this year and
that the lacklustre growth is expected to extend into 2013 as
exports remained weak.
SINGAPORE OVERALL PMI
Oct Sep Aug Jul Jun May Apr Mar Feb Jan
48.3 48.7 49.1 49.8 50.4 50.4 49.7 50.2 50.4 48.7
Electronics Index
47.5 50.0 50.7 49.2 50.4 50.8 51.5 51.5 51.0 50.5
New Export Orders Index
48.0 49.4 50.4 50.2 51.1 50.8 51.3 51.0 50.5 49.0
CONTEXT:
- Singapore's PMI is produced ahead of government data on
manufacturing and exports.
- Economists say the PMI does not appear to track activity
at pharmaceutical companies, which make up Singapore's
fastest-growing manufacturing sector.
- For more PMI reports from around the world, see
(Reporting by Kevin Lim; Editing by Kim Coghill)
Quote from yahoo.

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06-Nov 2012 Tuesday 8:26 AM (4190 days ago)

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SINGAPORE, Nov 5 (Reuters) - Singapore's Keppel Corp said its units Keppel Subic Shipyard Inc in the Philippines and Keppel Verolme BV in the Netherlands have won contracts totalling S$160 million ($130.82 million).

quoted from yahoo

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06-Nov 2012 Tuesday 8:30 AM (4190 days ago)

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PERENNIAL CHINA RETAIL TRUST

Review of the Performance
3Q 2012 vs 3Q 2011
Property operating expenses of S$0.2 million for 3Q 2012 comprised mainly new staff costs and pre-operation costs incurred on Perennial Jihua Mall, Foshan and Perennial Qingyang Mall, Chengdu. No property operating expenses were incurred in 3Q 2011.
Finance expenses for 3Q 2012 was S$1.5 million higher than 3Q 2011. Finance expenses in the current period comprised mainly (i) interest costs incurred on financing facilities relating to the acquisition of Perennial Jihua Mall, Foshan, (ii) mark-to-market loss of S$0.7 million on non-deliverable forward transactions entered into to hedge PCRT Group’s exposure to foreign currency risk, and (iii) interest costs of S$0.2 million on the $130.0 million Fixed Rate Notes issued under the MTN Programme. The finance expenses for 3Q 2011 comprised mainly amortisation of transaction costs incurred on the S$325.0 million credit facilities.
The increase of S$1.1 million in Trustee-Manager’s fees for 3Q 2012 as compared to 3Q 2011 was attributed to the waiver of the Trustee-Manager’s fees by the Trustee-Manager in 3Q 2011.
The increase of S$12.2 million in other income is due to the following reasons:
(i) S$10.7 million of income support derived under the New Earn-out Deed, made in accordance with the provisions set out in the earn-out deeds for payment to Unitholders, and accounted as other income; and
(ii) S$1.5 million of unrealised foreign exchange gain on translation of cash and cash equivalents and other payables denominated in Chinese Renminbi (RMB).
The decrease of S$1.6 million or 78.9% in other expenses was mainly attributed to the inclusion of foreign exchange loss of S$1.4 million in 3Q 2011. Excluding this foreign exchange loss, other expenses for 3Q 2011 was S$0.6 million. This decrease of S$0.2 million in other expenses for 3Q 2012 was due to lower corporate and professional expenses incurred.
The increase in share of profit of jointly controlled entity of S$0.3 million or 27.6% for 3Q 2012 as compared to 3Q 2011 was mainly due to higher profit derived from Shenyang Longemont Shopping Mall in 3Q 2012, as the Shenyang Longemont Shopping Mall only started operations on 1 October 2011.
Overall, the profit for 3Q 2012 increased by S$11.2 million as compared to 3Q 2011.

quoted from sgx

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06-Nov 2012 Tuesday 8:34 AM (4190 days ago)

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YOMA JOINT VENTURE AGREEMENT WITH PARKSON MYANMAR CO. PTE. LTD. AND FIRST
MYANMAR INVESTMENT COMPANY LIMITED

The Board is pleased to announce that the Company has on 5 November 2012 entered into a
Joint Venture Agreement with Parkson Myanmar and FMI (the “Agreement”) to incorporate a
limited liability company in Singapore (the “JV Co”) to carry on the Business. Under the
Agreement, the operation of the Business is targeted to commence on 31 March 2013 or such
other date to be agreed upon by all parties to the Agreement (the “Parties”, each a “Party”),
subject to the fulfilment of certain conditions (as stated below).
FMI is a subsidiary of Serge Pun & Associates (Myanmar) Limited (“SPA”). Mr. Serge Pun is
the Executive Chairman and a controlling shareholder of the Company and he is also the
Chairman of and a controlling shareholder of SPA. The joint venture with FMI under the
Agreement is an interested person transaction for the purposes of Chapter 9 of the Listing
Manual of the Singapore Exchange Securities Trading Limited. However, the total equity
participation of the Company is less than 3% of the latest audited net tangible assets of the
Company.
The issued and paid-up capital of the JV Co will be US$3 million comprising 3 million ordinary
shares (the “JV Co Shares”). As announced in the First Announcement, the Company will hold
20% of the issued share capital of the JV Co by subscribing for 600,000 JV Co Shares at
US$1.00 each for a total cash consideration of US$0.6 million as determined based on an
assessment of the working capital requirements for the Business. Parkson Myanmar will hold
70% and FMI will hold 10% of the issued share capital of the JV Co. The total consideration of
US$0.6 million to be paid by the Company under the Agreement will be sourced from internally
generated funds. The Company will have a board seat on the JV Co.

quoted from sg

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06-Nov 2012 Tuesday 8:41 AM (4190 days ago)

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SGX Buying in.

Buying-in Executed on November 5, 2012
SECURITY TOTAL QTY EXECUTED CURR TOTAL VALUE
ARTIVISION 1,000 S$ 270.00
ASCENDASHT 6,000 S$ 5,580.00
COMFORTDELGRO 23,000 S$ 38,295.00
DIGILAND 500 S$ 2.00
FRASERS COMM 45,000 S$ 57,600.00
INTERRA RES 19,000 S$ 7,695.00
JARDINE C&C 1,000 S$ 47,970.00
LIONGOLD 10,000 S$ 10,800.00
MIDAS HLDGS 8,000 S$ 3,160.00
NOBLE GRP 10,000 S$ 13,100.00
OCBCB4.5%NCPS100 100 S$ 10,214.00
OCEANUS 59,000 S$ 2,124.00
PSL HLDG 73,000 S$ 18,250.00
SEMB CORP 300 S$ 1,632.00
SINGPOST 8,000 S$ 9,280.00
TIGER AIR 5,000 S$ 3,775.00
YANLORD 27,000 S$ 34,560.00
YHM 1,060,000 S$ 22,260.00
======================================
TOTAL S$ 286,567.00

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06-Nov 2012 Tuesday 8:43 AM (4190 days ago)

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YONGNAM CLINCHES S$27 MILLION WORTH OF NEW CONTRACTS

- Two Structural Steelworks Contracts for Fusionopolis Phase 2A Tower A & Tower B Project and South Beach Development Project
Singapore, November 5, 2012 – Yongnam Holdings Limited (“Yongnam” or the “Group”), a leading and well established structural steel contractor and specialist civil engineering solutions provider, is pleased to announce that it has been awarded two new contracts worth a total of S$27 million for work to be carried out on Fusionopolis Phase 2A Tower A & Tower B Package and South Beach Development Project. The sub-contract packages for the two projects are for the supply, fabrication, delivery and erection of structural steelworks.
Fusionopolis spans 30 hectares of land within one-north, Singapore’s innovation hub developed by JTC Corporation. An iconic development in the western part of Singapore, Fusionopolis is designed to cluster R&D activities in info-communication technology, physical sciences and engineering industries.
Yongnam will support the main contractor, GS Engineering & Construction Corporation, with about 1,000 tonnes of structural steel for the construction of two new research buildings – 11-storey Tower A and 18-storey Tower B – located between Fusionopolis Way and Ayer Rajah Avenue. The project is expected to be completed in October 2013.

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06-Nov 2012 Tuesday 8:44 AM (4190 days ago)

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KOH BROTHERS SECURES S$30.9 MILLION CONTRACT FROM CHANGI AIRPORT GROUP

- Latest contract further underpins the Group’s strong track record in public drainage infrastructure works
Singapore, November 5, 2012 – Koh Brothers Group Ltd (“Koh Brothers” or the “Group”), a well-established construction, property development and specialist engineering solutions provider, is pleased to announce that its subsidiary, Koh Brothers Building and Civil Engineering Contractor (Pte) Ltd (“KBCE”), has been awarded a S$30.9 million design and build contract by Changi Airport Group (Singapore) Pte Ltd, for a proposed retention pond at Changi Airport.
Under the contract, KBCE will be responsible for the design and construction of the retention pond as well as associated drainage and backfilling works. Construction work is expected to commence on November 15, 2012 and projected for completion by December 2014.
Mr Francis Koh, Koh Brothers’ Group Managing Director and Group CEO, said: “We are delighted to be involved in this project. With our strong expertise in civil engineering and construction, having completed various drainage work projects in the public sector such as the iconic Marina Barrage as well as Punggol Waterways, we are confident in delivering yet another quality project that will further embellish our track record.”

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06-Nov 2012 Tuesday 8:45 AM (4190 days ago)

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9M 2012 NET PROFIT AT $371 MILLION

Singapore, November 5, 2012: Sembcorp Marine recorded a net profit of
$371 million for the first nine months of 2012. This was 29% lower as
compared with $523 million for the same period in 2011. On a quarterly basis,
3Q 2012 net profit was $116 million on the back of lower turnover at $892
million, attributable mainly to lower revenue and margin recognition. Overall,
9M 2012 Group turnover was $3,052 million, 3% higher as compared with
$2,963 million for the same period in 2011

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06-Nov 2012 Tuesday 8:36 PM (4190 days ago)

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