Home THE DAILY EDGE Business Feb 8:, Genting, Tuan Sing, Wing Tai, Guocoland, China Hu An Cable
Feb 8:, Genting, Tuan Sing, Wing Tai, Guocoland, China Hu An Cable

Tags: Asia Pacific Breweries | China Hu An Cable Holdings | Csc Holdings | Epure International | Genting Singapore Plc | Guocoland | Noble Group | Singapore Telecommunications | Tuan Sing Holdings | Wing Tai Hldgs

Written by The Edge   
Monday, 08 February 2010 08:47
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Singapore’s benchmark Straits Times Index (.FTSTI) fell 2.24% to close at 2,683.56 points last Friday. US stocks erased a midday drop to end slightly higher last Friday, closing out a volatile week punctuated by mixed signals from the labour market data and growing anxiety over fiscal problems in Europe. Here are some stocks to watch:

Genting Singapore PLC (GENS.SI): Singapore’s Casino Regulatory Authority said on Saturday it has issued licence for Resorts World at Sentosa (RWS), operated by Genting Singapore. RWS is one of Singapore’s two casino which will start the operation this year.

Asia Pacific Breweries (APBB.SI) said it has agreed to lift the final considerations for the acquisition of Indonesian brewer PT Multi Bintang Indonesia Tbk (MLBI.JK) from Heineken (HEIN.AS) slightly to 2.34 trillion rupiah ($354.5 million). Last traded: $12.40

Epure International
(EPIL.SI) said that it has received clearance from the Singapore Exchange for its planned Hong Kong listing. Meanwhile, its unit, Beijing Sound Environmental Engineering Co., has won a Build, Operate and Transfer (BOT) municipal project in Yantai City, Shandong with a treatment capacity of up to 50,000 tonnes of wastewater per day. The total investment is estimated to be about RMB120 million ($25 million). The concession period is 25 years. Last traded: 83 cents

China Hu An Cable Holdings, which starts trading today, says on Friday its IPO has been subscribed to at a rate of 1.62 times the original invitation of 176,000,000 shares, which included 171,000,000 placement shares. The company is raising $44.6 million in net proceeds from the IPO, which will go towards the expanding and enhancing of manufacturing and R&D facilities.

Tuan Sing Holdings (TSHS.SI) (TSH SP), the company with businesses in property, hotels investment, industrial services and retail, posted a net profit of $44.7 million for FY2009, up from $2.7 million in last year. Last traded: 23.5 cents

Developer Wing Tai Holdings (WINGT SP) (WTHS.SI) says net profit attributable to shareholders for the half year ended Dec 31 2009 increased 28% to $68.7 million from $53.5 million in the current period as a result of the higher operating profit achieved. Group revenue increased by 101% to $454.3 million from $226.3 million a year ago. Last traded: $1.76

Developer Guocoland (GUOC.SI) (GUOL SP) reported a net profit of $60.4 million for the second quarter ended Dec 31 2009, compared to $0.9 million in the previous corresponding period. The company has a June year-end. Revenue and cost of sales were higher at $363.7 million and $250.5 million respectively for this second quarter. Last traded: $2

Noble Group (NOBG.SI) will start a naphtha trading desk in Singapore around the second quarter, completing its plans to trade across the product barrel from the Asian oil hub, industry sources said today. Last traded: $2.76

CSC Holdings (CSCH.SI), the homegrown foundation and geotechnical engineering specialist, has posted a profit after tax to $5 million for the three months ended Dec 31, down 39% from $8.2 million a year earlier. Revenue fell 41.3% to $72.3 million from $123.1 million. Last traded: 16 cents.

Singapore Telecommunications (SingTel)(STEL.SI), Southeast Asia’s largest telecoms firm, is likely to be in the spotlight today ahead of its quarterly results announcement later this week. Last traded: $2.90

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Last Updated on Monday, 08 February 2010 09:04