Updates (SG) – 16 Oct 2009

Singapore Exchange: More activities ahead. Singapore Exchange Ltd (SGX) kicked off FY10 with a good set of 1Q results. Net earnings came in at S$94.1m, up 11% YoY or 3% QoQ. The star was Securities Market with a 41% YoY...
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Updates (SG) – 06 Oct 2009

CapitaLand Ltd: Proposed listing of CapitaMalls Asia. Yesterday, CapitaLand (CapLand) announced that it has obtained a letter of eligibility-to-list to list its wholly-owned subsidiary – CapitaLand Retail Ltd on the Main Board of SGX-ST and CapitaLand Retail Ltd will be renamed as CapitaMalls Asia Ltd (CMA). Base on assumptions,...
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Updates (SG) – 22 September 2009

Olam International Ltd: Planting seeds for inorganic growth. Olam International Ltd (Olam) has acquired almond orchards and permanent water rights in Australia for A$140m. The distressed assets, which were purchased via liquidation proceedings, will be funded via internal accruals and existing credit facilities. Benefits from the acquisition include: (i)...
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Updates (SG) – 16 September 2009

Singapore Property: Deeper implications from new measures. Buyers were undeterred by the Hungry Ghost month as seen in the strong take-up rate at Trevista. A total of 1,662 NLP units were sold in the month of August. Projects with small-size units continued to stay in favor with buyers due...
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Updates (SG) – 09 September 2009

Biosensors International Group: Positive industry outlook. Maintain BUY. Our scan of the Drug Eluting Stent (DES) industry has yielded encouraging results. DES usage has risen to the mid-70% range (vs. ~65% year ago). While there are still proponents and...
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Updates (SG) – 08 September 2009

Chartered Semiconductor: Proposed acquisition by ATIC. Advanced Technology Investment Company LLC (ATIC) of Abu Dhabi yesterday proposed to acquire Chartered Semiconductor via a scheme of arrangement at S$2.68/share. In a separate announcement, Chartered also revised its ...
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Updates (SG) – 07 September 2009

CapitaLand Ltd: Gillman Heights development plan unveiled. Last Friday, CapitaLand (CapLand) unveiled the design for its upcoming residential project- The Interlace at the former Gillman Heights site. Estimated construction cost for the project is between S$250psf-S$270psf and our new estimated breakeven cost for the project is between S$695psf-S$720psf. We...
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Updates (SG) – 04 September 2009

Yangzijiang Shipbuilding (Holdings) Ltd: Holding up well in a tough environment. The group has a strong order book of 139 vessels worth a total of US$6.1b as at 30 Jun 09. More noteworthy is the fact that management said the...
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Updates (SG) – 27 August 2009

Goodpack Limited: Tapping into new growth avenues. Goodpack Limited released its 4QFY09 results last evening. Revenue fell 18.0% YoY (-1.5% QoQ) to US$23.7m, while net profit dipped by a larger 45.4% YoY (-35.8% QoQ) to US$4.1m, due to a spike in operating and raw materials and higher income tax...
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Updates (SG) – 24 August 2009

Technology Sector: 2Q09 results distorted by one-offs. Of the four tech companies under coverage which had reported their 2Q09 results, all registered sequential growth in both their revenue and bottom line. However, most of the results were also dragged down by one-off items. As ...
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