Finance News - 7 Nov - AsianBookie.Com Forums

07-Nov 2012 Wednesday 12:07 AM (4190 days ago)

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Macquarie International Infrastructure Fund Limited

FINANCIAL HIGHLIGHTS
Macquarie International Infrastructure Fund Limited (MIIF) reported net income on an adjusted basis (net income) of S$60.2
million for the nine months ended 30 September 2012, up S$10.3 million from the prior corresponding period.
Total income from investments of S$67.1 million was 18.2 per cent higher than the same period last year. Income received
from Taiwan Broadband Communications (TBC) was S$42.9 million (2011: S$29.0 million), Hua Nan Expressway (HNE)
was S$17.4 million (2011: S$22.5 million) and Changshu Xinghua Port (CXP) was S$6.9 million (2011: S$5.3 million). The
higher income from TBC reflects the contribution from MIIF’s additional 27.5 per cent interest in the business acquired in
2011. Higher interest and tax expenses caused income generated by HNE to be lower compared to last year.
MIIF’s NAV as at 30 September 2012 was down slightly at S$813.2 million1 compared to 30 June 2012 (S$829.3 million)
due primarily to the impact of adverse foreign exchange movements on the investment portfolio. Cash at 30 September
2012 amounted to S$59.9 million.

This message was edited by Solarboy on 07-Nov-2012 @ 12:23 AM

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07-Nov 2012 Wednesday 12:12 AM (4190 days ago)

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MAPLETREE INDUSTRIAL TRUST

Consistent growth driven by better operating performance and
contributions from Acquisition Portfolio
 2QFY12/13 Distributable Income rose by 18.4% y-o-y to S$37.5 million
 DPU increased by 11.7% y-o-y to 2.29 cents
 Resilient Portfolio with higher average occupancy and rental rates
 Achieved higher average passing rental rate of S$1.59 psf/mth
 Average portfolio occupancy rate stable at 95.0%
 Positive rental revisions of between 8.4% and 23.4% achieved across all
property segments
 Enhanced capital structure with extended debt maturity profile
 Completed refinancing of all borrowings due in FY12/13
 Healthy balance sheet with weighted average tenor of debt extended to
3.2 years and weighted all-in funding cost lowered to 2.3%

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07-Nov 2012 Wednesday 12:14 AM (4190 days ago)

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HEINEKEN

HEINEKEN’s acquisition of APB approved by Competition Commission of Singapore
Amsterdam, 6 November 2012 – Heineken N.V. (‘HEINEKEN’) today announced that the Competition Commission of Singapore (the ‘CCS’) has granted clearance for the acquisition by Heineken International B.V. (‘HIBV’) of Fraser and Neave, Limited’s (‘F&N’) direct and indirect interests in Asia Pacific Breweries Limited (‘APB’) and F&N’s interest in the non-APB assets held by Asia Pacific Investment Private Limited (‘APIPL’) (the ‘Transaction’). The CCS has found that the Transaction, if carried into effect, will not infringe the Section 54 prohibition of the Competition Act of Singapore.
To date, the conditions precedent specified in paragraphs 2.1(a), (b), (c) and 2.2(a) of the Pre-conditional Offer Announcement (as defined below) are satisfied. Accordingly, HEINEKEN and F&N have agreed to complete the Transaction by no later than 20 November 2012. Upon completion of the Transaction, HEINEKEN will own in aggregate a 95.3% stake in APB.
After completion of the Transaction, HIBV will make a mandatory general offer (‘MGO’) for all the shares of APB that the HEINEKEN group does not already own, in accordance with the Singapore Code on Take-overs and Mergers. Subsequently, HEINEKEN will seek to delist APB. Further details of the MGO will be provided in the MGO Announcement to be made by Credit Suisse and Citi on behalf of HIBV on completion of the Transaction.

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07-Nov 2012 Wednesday 12:18 AM (4190 days ago)

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Koh Brothers Group Limited

Koh Brothers Group Limited (“Koh Brothers” or the “Group”), a well-established construction, property development and specialist engineering solutions provider, announced today net profit attributable to equity holders of the Company (“Net Profit”) of S$13.2 million for the nine months ended September 30, 2012 (“9M2012”). Net Profit for the previous corresponding financial period (“9M2011”) was S$18.6 million.
The lower Net Profit was mainly due to a 33.0% decrease in revenue to S$183.5 million for 9M2012, due mainly to lower revenue recognition from the Group’s construction and real estate business divisions. In addition, the impact of the adoption of INT FRS 115 amounting to an increase in profit of S$9.7 million was reflected in 3Q2011.
The Group achieved a 4.2 percentage point increase in gross profit margin to 18.6% for 9M2012, from 14.4% for 9M2011. Earnings per share for 9M2012 was 2.83 Singapore cents.
For the three months ended September 30, 2012 (“3Q2012”), the Group reported Net Profit of S$7.4 million, on revenue of S$73.9 million. This compares to Net Profit of S$13.1 million, on revenue of S$117.7 million for the corresponding financial period (“3Q2011”).

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07-Nov 2012 Wednesday 12:20 AM (4190 days ago)

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HTL International Holdings Limited

SINGAPORE – 6 November 2012 –Mainboard-listed HTL International Holdings Limited (“HTL”), one of the world’s leading leather tanners and sofa manufacturers, today reported a rise in net profit after tax of 289.5% to US$7.0 million for the first nine months of 2012 (9M 2012) amidst the continuing global economic slowdown and challenging business conditions. The higher profitability resulted mainly from a forex gain of US$837,000, instead of a forex loss of US$5.1 million in 9M 2011.
The sustained focus on expanding market share saw top line growth rise 17.2% to US$445.4 million in 9M 2012 against US$380.1 million in the same period of 2011, driven by higher sales to North America, Europe, ANZ and Japan. Impacted by rising raw leather and production input costs, gross profit only grew 5.9% to US$146.7 million. This consequently saw gross profit margins decline to 32.9% from 36.5% in 9M 2011.
Q3 2012 vs Q3 2011
In Q3 2012, Group revenue rose 7.4% to US$148.2 million as compared to US$138.0 million in Q3 2011. Faced with increased input costs, gross profit declined 8.0% to $48.2 million from US$52.4 million in Q3 2011. Notwithstanding a 67.1% reduction in income tax expense, the higher forex loss of US$1.6 million (Q3 2011: US$0.7 million) resulted in net profit declining by 7.7% to US$1.4 million against US$1.5 million in Q3 2011.

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07-Nov 2012 Wednesday 12:23 AM (4190 days ago)

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Maxi Cash

The Group continued to perform well in the first nine months of 2012. Revenue increased 14.2% from $62.6 million in 9M 2011 to $71.5 million
in 9M 2012.
Revenue contribution from the pawnbroking business rose in 9M 2012. The increase was primarily attributed to the higher interest income
from its growing pledge book and sales of unredeemed pledges. The retail and trading of pre-owned jewellery and watches business had also
registered healthy revenue growth in 9M 2012.
For 3Q 2012, the revenue of $25.1 million was 10.9% lower than that of the corresponding quarter in 2011 due mainly to the lower revenue
from the retail and trading of pre-owned jewellery and watches. The pawnbroking business continued to register higher revenue due mainly to
interest income from higher pledge book.
The retail and trading of pre-owned jewellery and watches recorded lower revenue in 3Q 2012 as compared to 3Q 2011 due to the record
revenue achieved in 3Q 2011. The surge in gold prices to an all-time high in August and September 2011 resulted in higher business volume for
the retail and trading of pre-owned jewellery and watches business in 3Q 2011.
Except for the one-off listing expenses of $0.8 million, the increase in operating expenses across all cost categories and other operating
expenses in 9M 2012 were largely in line with the increase in revenue for the relevant period. The leasing of additional pawnshops and retail
outlets in new locations in the last 12 months contributed to the increase in operating expenses such as rental costs, employee benefits
expense and depreciation and amortization expenses.
The higher revenue and gross profit lifted the Group’s pre-tax profit for 9M 2012. Pre-tax profit increased from $2.4 million in 9M 2011 to $3.9
million in 9M 2012. The higher pre-tax profit was achieved despite a one-off charge of $0.8 million for the Group’s listing expenses.
For 3Q 2012, pre-tax profit of $1.6 million was lower than the pre-tax profit of $2.1 million achieved in 3Q 2011, due to lower profit from the
retail and trading of pre-owned jewellery business which was partially offset by the higher profit from the pawnbroking business. The pre-tax
profit of $2.1 million achieved in 3Q 2011 was higher due to the surge in gold prices then.
In 9M 2012, the Group had incurred expenses of approximately $0.8 million for the setting up of additional pawnshops and retail outlets in
new locations and relocation of existing pawnshops and retail outlets. In 3Q 2012 alone, the Group incurred approximately $0.5 million of
expenses for the same purpose.
Excluding the abovementioned listing and new shop setting up expenses, the Group’s pre-tax profit would have been $5.5 million for 9M
2012 or $3.1 million higher than the pre-tax profit of $2.4 million for 9M 2011.
Similarly, excluding the expenses incurred for the setting up of new shops and relocation of shops, the Group’s pre-tax profit would
have been $2.1 million for 3Q 2012.

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07-Nov 2012 Wednesday 12:26 AM (4190 days ago)

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SGX

Buying-in Executed on November 6, 2012
SECURITY TOTAL QTY EXECUTED CURR TOTAL VALUE
ARMARDA 1,000,000 S$ 19,000.00
ASIAMEDIC LTD 5,000 S$ 445.00
BIOSENSORS 1,000 S$ 1,160.00
CCFH 3,820,000 S$ 240,660.00
CNMC GOLDMINE 4,000 S$ 1,400.00
DBS 38,000 S$ 527,820.00
GAYLIN 20,000 S$ 7,600.00
GENTING SP 30,000 S$ 39,600.00
LIONGOLD 6,000 S$ 6,420.00
NEO GROUP 10,000 S$ 3,000.00
NOBLE GRP 20,000 S$ 26,000.00
SCINTRONIX 50,000 S$ 1,150.00
SING TEL 1,000 S$ 3,210.00
STARHILL GBL 15,000 S$ 11,775.00
SUPER GROUP 3,000 S$ 7,800.00
THBEV 10,000 S$ 4,500.00
TIGER AIR 10,000 S$ 7,500.00
TT INT 100,000 S$ 11,300.00
UNIFIBER 200,000 S$ 8,400.00
YANGZIJIANG 20,000 S$ 18,300.00
======================================
TOTAL S$ 947,040.00

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07-Nov 2012 Wednesday 12:33 AM (4190 days ago)

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NSL

Group turnover in 3Q 2012 was S$100.2 mil as compared to S$104.5 mil in the previous correponding
period. The 4% decrease in turnover was attributable to a fall in revenue from both the Construction
Products and Chemicals divisions, partially mitigated by higher revenue recorded by the Environmental
Services division.
The Group recorded a loss before tax of S$4.7 mil in 3Q 2012 against a profit of S$36.7 mil in the previous
corresponding quarter. The magnitude of the negative swing was due mainly to our share of loss amounting
to S$6.8 mil from the petrochemical associate Bangkok Synthetic Co. Ltd (“BST”) as a result of the fire
incident in May 2012, as compared to a profit of S$26.8 mil in the previous corresponding period.
Excluding BST, Group pre-tax profit declined to S$2.1 mil in 3Q 2012 from S$9.9 mil previously as a
result of weaker performance by both the Construction Products and Chemicals divisions.
After taking into account income tax and the exceptional gain of S$1.2 mil from the reversal of impairment
for plant and equipment, the Group reported a loss attributable to equity holders of S$2.5 mil in 3Q 2012 as
against a profit of S$29.5 mil in 3Q 2011.

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07-Nov 2012 Wednesday 12:35 AM (4190 days ago)

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YONGNAM

YONGNAM REPORTS S$10.3 MILLION IN 3Q2012 NET PROFIT AMIDST A CHALLENGING BUSINESS ENVIRONMENT
- Lower revenue of S$71.7 million in 3Q2012 compared to S$86.5 million in 3Q2011 on substantial completion of several Structural Steelworks projects at end-2011 and slower progress in certain ongoing Structural Steelworks projects
- Strong order book of S$442.0 million as at September 30, 2012
- Continues to pursue projects in Singapore and overseas, including the offshore wind power market in Europe

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07-Nov 2012 Wednesday 12:38 AM (4190 days ago)

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ASCENDAS HOSPITALITY TRUST

Gross revenue and net property income of S$38.1 million and S$12.6 million respectively were 2.1% and 8.8% higher than the Forecast for the same period. Gross revenue for the Australia hotels during the period was marginally affected by the rebranding exercise but was overall within the Forecast. This period coincided with the summer months in China which typically experienced strong foreign visitor arrivals into Beijing and this has resulted in strong revenue generation for Novotel Beijing Sanyuan.
Net loss after tax of S$28.0 million was S$7.5 million or 21.2% lower than the Forecast. In addition to higher net property income, which exceeded the Forecast by S$1.0 million, the lower net loss was also attributable to negative goodwill which was higher than the Forecast by S$4.7 million and depreciation and amortisation charges which was lower than the Forecast by S$0.9 million. The negative goodwill in the Forecast was provisionally determined based on financial information available at the time of the preparation of the prospectus, and the actual value of the net assets of the Portfolio acquired as at the Listing Date were higher than forecasted in the prospectus, resulting in higher than forecasted negative goodwill. The Forecast accounted for depreciation on a straight line basis applied

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07-Nov 2012 Wednesday 12:41 AM (4190 days ago)

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CHEMICAL INDUSTRIES (F.E.) LTD

Group revenue for the current period increased by 5.1% from $60.5 million, in the previous period, to $63.6 million. This increase was achieved via a higher off-take of our main products (chemicals) by some major customers, with chlorine and caustic soda overall off-take increasing by 11% and 7% respectively.
The increase in revenue contributed to an increase in the Group’s gross profit by 2.7% from $7.3 million, in the previous period, to $7.5 million in the current period. Group gross profit margin at 12% for the current period, was at about the same level as the previous period.
Group operating income for the current period was lower by $1.6 million, as the previous period included two income items which were not repeated in the current period, namely a foreign exchange gain of $1.0 million and an insurance claim of $0.7 million.
Group distribution and administrative expenses at $5.0 million for the current period, was $0.5 million lower than the previous period. The decrease was due mainly to lower storage tank rental, as the group had renewed an existing contract on better terms.
The Group had a foreign exchange loss of $0.2 million in the current period, as against a foreign exchange gain of $1.0 million, and this is represented under other operating expenses.
Group interest expense for the current period at $0.64 million was marginally higher than the previous period. This was attributed mainly to higher interest expense incurred on trade financing activities during the current period, and this was offset to a certain extent by lower interest expense on overdrafts.
Fair value loss adjustments on the Group’s forward exchange contracts for the current period amounted to $0.3 million compared to a fair value loss of $1.6 million in the previous period. The Group had only two forward exchange contracts which matured during the current period. This, therefore, accounted for the lower current period loss adjustment, compared to the previous period.
Pre-tax profit of the Group at $1.8 million for the current period was 20.0% (or $0.3 million) higher than the previous period. This was attributed mainly to the overall improved gross profit and lower expenses incurred in the current period.

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07-Nov 2012 Wednesday 12:42 AM (4190 days ago)

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SATS

Group net profit from continuing operations attributable to owners of the Company for the second quarter was $50.3 million, $8.4 million or 20.0% higher than the corresponding quarter last year. Underlying net profit from continuing operations excluding all the one-off items was $50.7m, an increase of $4.3 million or 9.3% over the corresponding period last year.
Page 12 of 16
Group revenue from continuing operations increased $37.3 million or 8.8% to
$461.5 million over the same quarter last FY. The growth was contributed by both
Gateway Services ($11.9 million, 7.9%) and Food Solutions ($25.4 million, 9.3%).
Group expenditure increased by $30.5 million or 8.0% in tandem with the increase
in revenue. Operating profit from continuing operations for the quarter was $52.1
million, an increase of $6.8 million or 15.0% over same period last year. TFK
recorded a significant improvement in performance, with an operating profit
growth of $3.3 million or 178.2%.
Share of after-tax profits from overseas associates/joint ventures for the second
quarter was $10.4 million, $0.3 million or 3.0% higher than the same quarter last
FY.

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07-Nov 2012 Wednesday 12:44 AM (4190 days ago)

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Global Logistic Properties Limited

Global Logistic Properties Limited (“GLP”), one of the world’s largest providers of modern logistics facilities, with a market-leading presence in China and Japan, announces that it has leased approximately 42,000 square metres (“sqm”) (451,920 square feet (“sq ft”)) at its Ichikawa Shiohama development in Greater Tokyo to Rakuten, Inc. (“Rakuten”), one of Japan’s leading e-commerce companies. With this new lease agreement, Ichikawa Shiohama is 40% pre-leased considerably ahead of schedule.
The Ichikawa Shiohama project, a 50:50 joint venture between GLP Japan and Mitsui Fudosan Co., Ltd., is a five-storey, large-scale multi-tenant logistics facility, with a net lettable area of 102,000 sqm (1,098,000 sq ft).

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