Home THE DAILY EDGE Business Nov 12: Harry's Holdings, First Resources, Mewah, Sembcorp
Nov 12: Harry's Holdings, First Resources, Mewah, Sembcorp PDF
Written by The Edge   
Monday, 12 November 2012 09:08
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Singapore stocks may. stay weak on concerns over US fiscal woes that threaten to push the world's largest economy into recession.

 

On Friday, the STI shed 2.69 points, or 0.09%, lower at 3,009.56. Here are some stocks and factors to watch:

F&B Asia Ventures, a unit of Everstone Capital Partners II LLC, offered to privatise bar chain operator Harry's Holdings at $0.23 per share. The offer price represents a 53% premium to Harry's last traded price of $0.15.

 

Palm oil producer First Resources said its third-quarter net profit rose 25% to US$64.3 million ($78.7 million) from a year earlier mainly due to higher sales volumes of palm-based products.

 

Golden Agri-Resources, the world's second-largest palm oil plantation company, will issue up to 5 billion ringgit ($2 billion) in Islamic bonds in Malaysia to fund possible acquisitions for new land, its executive told Reuters in an interview on Friday.

 

Palm oil firm Mewah said its third-quarter net profit fell 82% to US$1.2 million ($1.5 million) from a year earlier, hurt by lower sales volume and weaker selling prices. 

 

Sembcorp Industries posted a year-on-year net profit slide of 18.5% to $181.21 million for the third quarter ended Sept 30.

 

Construction and property group Chip Eng Seng on Friday posted a 21.8% increase in net profit to $30.26 million, or 4.57 cents per share, from $24.85 million, or 3.76 cents per share, for the third quarter ended Sept 30.

 

United Engineers saw its net profit for the third quarter ended Sept 30 plunge 92% to $12.80 million from $159.85 million a year ago.

 

SBS Transit's net profit decelerated sharply in the third quarter ended Sept 30, falling 40.9% year on year to $6.3 million on increased staff costs, depreciation and maintenance.

 

Jaya Holdings said net profit attributable to owners for the quarter ended Sept 30 surged 113% to US$10.1 million ($12.4 million), from US$4.77 million a year ago.

 

 
Last Updated on Monday, 12 November 2012 09:09