Home THE DAILY EDGE Business Jan 13: Ezra, Swiber, Qian Hu, Yangzijiang
Jan 13: Ezra, Swiber, Qian Hu, Yangzijiang

Tags: Ezra | Ezra Holdings | Lian Beng Group | Manhattan Resources | Qian Hu Corporation | Sp Corporation | Straits Asia Resources | Swiber Holdings | Yangzijiang Shipbldg Hldgs | Yangzijiang Shipbuilding

Written by Bloomberg   
Thursday, 13 January 2011 08:02
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The following companies may have unusual price changes in Singapore trading. Stock symbols are in parentheses, and share prices are from the previous close. Singapore’s Straits Times Index gained 0.1% to 3,244.94.

Ezra Holdings (EZRA SP): The provider of logistics services to the oil and gas industry said first-quarter profit declined 28% to $13.3 million from a year ago. Ezra gained 0.6% to $1.81.

Lian Beng Group (LBG SP): The Singapore-based construction company said first-half net income doubled to $22.7 million from $11.4 million a year ago. The shares increased 3.1% to 33 cents.

Manhattan Resources (MRL SP): The provider of marine and land reclamation services said it formed a joint venture to bid for a site in China’s Ningbo city. The project is expected to cost 1.1 billion yuan ($214 million) if its group wins the bid, the company said. The stock climbed 1.6% to $1.31.

SP Corp. (SPP SP): The commodity trader said its unit signed an agreement with PT Bukit Baiduri Energy for an additional coal allocation in 2011, in exchange for the renewal of a US$2 million ($2.6 million) interest-earning deposit with the Indonesian coal miner. The transaction is expected to boost its earnings per share by 0.3 cents this year. The stock fell 5.1% to 18.5 cents.

Straits Asia Resources (SAR SP): Shares of the owner of coal mines in Indonesia were downgraded to “sell” at DMG Research as the recent rally already reflects its license in the country. Coal prices may also to fall with the recovery in Queensland’s output expected within three months, the brokerage said in a report. The stock rose 9.1% to $2.88.

Swiber Holdings
(SWIB SP): The offshore logistic services provider sold $120 million of 5.9% bonds which mature in July 2014, according to a person familiar with the matter. The sale was managed by DBS Group Holdings, the person said, asking not to be identified as details are private. Swiber increased 1% to $1.03.

Qian Hu Corp. (QIAN SP): The supplier of ornamental fish said full-year net income dropped 36% to $4.2 million from a year ago. The shares were unchanged at 13 cents.

Yangzijiang Shipbuilding Holdings (YZJ SP): China’s third-largest shipyard outside state control said it won 15 shipbuilding contracts, valued at US$534.5 million, in the fourth quarter. The stock gained 0.5% to $2.01.

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Last Updated on Thursday, 13 January 2011 09:05