Home THE DAILY EDGE Business March 1: Developers, Wilmar, UOL, Noble
March 1: Developers, Wilmar, UOL, Noble PDF
Written by The Edge   
Friday, 01 March 2013 08:57
smaller text tool iconmedium text tool iconlarger text tool icon

Shares in Singapore closed firmer for the second straight session on Thursday. The Straits Times Index gained 8.83 points, or 0.27%, to end at 3,269.95 -- below its intraday high of 3,282.90. The Straits Times Index fell 34.50 points to close at 3,254.26. Here are some stocks to watch this Friday morning:

Property developers: The Government has raised development charge (DC) rates for commercial use by an average of 24% for the period from March 1, 2013 to August 31, 2013. For commercial use DC rates, the biggest increase of 39% is for geographical sectors 114 & 115 (which covers Yishun, Sembawang, Woodlands, Choa Chu Kang and Jurong West area). The DC rate for landed residential use has been raised by 4% on average, with increases ranging from 7% to 15% in 41 geographical sectors and no change for the remaining 77 sectors.

Wilmar International is said to be the sole receiver of the ICE Futures US March raw sugar contract for the first time since the Singapore-based agribusiness went into the sweetener market three years ago, US traders said.

Property developer UOL Group said full-year net profit rose 19% to $807.7 million from a year earlier, helped by fair-value gains from investment properties.

Noble Group reported a 9% rise in 2012 net profit as the strong performance in its energy and metals segments offset the weaker agriculture environment. The Hong Kong-based company posted net profit of US$471 million ($583 million) for the three months ended in December, up from US$431 million a year earlier, on the back of record group revenue of US$94 billion.

Sembcorp Marine’s subsidiary PPL Shipyard has received a US$208 million ($258 million) contract to build a second Pacific Class 400 jack-up rig from Perisai (L) Inc, the group said on Thursday.

Malaysian-based shipbuilder Nam Cheong on Thursday said it had signed contracts worth US$130 million ($161 million) for four multi-purpose platform support vessels (MPSV) with Bumi Armada’s wholly owned Armada Offshore MPSV.

Golden Agri-Resources’ fourth-quarter earnings plunged 93%, dragged down by weaker crude palm oil prices. Net profit attributable to shareholders dived to US$54 million ($67 million) from US$748 million a year earlier.

China Aviation Oil (Singapore) Corporation posted a three-fold jump in Q4 net profit to US$18.15 million ($22.45 million) from US$5.69 a year ago.

United Engineers’ net profit for the fiscal year ended Dec 31, 2012 dived 73% year on year to $72.16 million from $269.46 million.