Home THE DAILY EDGE Business Nov 4: Cosco Corp., DBS Group, Total Access
Nov 4: Cosco Corp., DBS Group, Total Access

Tags: Ch Offshore | Cosco Corp. Singapore | Cosco Corporation (S) | Cosco Corporation (Singapore) | DBS Group | Dbs Group Holdings | Lippo-Mapletree Indon Retail T | Mercator Lines | Mercator Lines (Singapore) | Rotary Engineering | Total Access Comm Pcl

Written by The Edge   
Thursday, 04 November 2010 08:20
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The following companies may have unusual price movements in trading today, say Thomson Reuters and Bloomberg. Share prices are from the previous close. Singapore’s Straits Times Index rose 0.6% to 3,224.97.

Bulk-shipping companies: The Baltic Dry Index, which measures the cost of shipping commodities, fell 2.2% in London yesterday, taking its five-day decline to 8.7%. Mercator Lines (Singapore) (MRLN SP), an Indian bulk carrier, slid 1.8% to 27.5 cents. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, climbed 3.9% to $14.76.

Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, gained 2.7% to $1.94. The company its third-quarter net profit more than doubled to $55.1 million from $22.3 million a year earlier.

CH Offshore (CHO SP): The operator of offshore support vessels used in the oil and gas industry said first-quarter net income declined 20% to US$8.2 million ($10.5 million) from a year earlier. The stock was unchanged at 53.5 cents.

DBS Group Holdings (DBS SP), Southeast Asia’s biggest bank, said third-quarter net income increased 28% to $722 million from a year earlier. Analysts had expected profit of $655.9 million, based on the average of eight analyst estimates compiled by Bloomberg. DBS rose 0.7% to $14.10.

Total Access Communication Pcl (DTAC SP): Thailand’s second-largest mobile-phone company expects its revenue will grow between 7% and 9% this year, driven by data and non-voice businesses, Chief Executive Officer Tore Johnsen said. Its shares gained 2.2% to US$1.39 ($1.8) when it last traded on Nov 1.

Singapore-listed real estate investment trust Lippo-Mapletree (LMRT.SI) said on Wednesday its third-quarter distributable income fell 10.3% to $11.7 million from a year ago mainly due to the effect of foreign exchange rates used for translating revenues in Indonesian Rupiah to Singapore Dollars.

Singapore oil and gas infrastructure services provider Rotary Engineering (ROTE.SI) said on Thursday its third-quarter net profit fell 4% to $10.2 million from a year ago mainly on higher operating expenses and foreign exchange loss.

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Last Updated on Thursday, 04 November 2010 08:22