SINGAPORE (June 18): Most companies setting up a division overseas struggle to find the right talent
SINGAPORE (Oct 20): Here are some stocks that could move the market this Friday morning:
Keppel Corporation announced earnings of $291.8 million for the 3Q17 ended Sept, up 30% from $224.5 million in 3Q16. This came on the back of higher profits from the group’s China and Vietnam property trading, power & gas and asset management businesses, as well as the sale of investments. Revenue for the quarter grew 11% to $1.6 billion. Shares in Keppel Corp closed 11 cents lower at $7.02 on Thursday.
Frasers Commercial Trust’s manager has announced a DPU of 2.41 cents, down 1.6% from 2.45 cents a year ago. Gross revenue fell 2.6% to $38.3 million while net property income fell 8.7% to $26.7 million. Units of FCOT closed at $1.40 on Thursday.
GuocoLand saw its earnings surge more than sixfold to $165.6 million for the 1Q ended September, from $25.6 million a year ago. This was mainly due to a higher share of profit of associates and joint ventures. Revenue in 1Q grew 79% to $362.0 million, from $202.8 million a year ago. Shares in GuocoLand closed 2 cents lower at $2.41 on Thursday.
CapitaLand Commercial Trust (CCT) has declared a distribution per unit (DPU) of 2.36 cents for 3Q17, up 2.6% from 2.30 cents a year ago on lower operating expenses, stronger performance from CapitaGreen as well as a one-off gain. Gross revenue fell by 0.4% to $74.1 million. Units in CCT closed flat at $1.66 on Thursday.
GL Limited reported a 58% increase in earnings to US$17.4 million ($23.6 million) for the 1Q ended Sept, from US$11.0 million a year ago. This was due the absence of other operating expenses for a one-off provision for a legal claim against a subsidiary in the UK in 1Q17. Revenue in 1Q18 was stable at US98.0 million. Shares in GL closed 1 cent lower at 86 cents on Thursday.
Creative Technology posted 1Q18 ended Sept earnings of US$22.8 million ($30.9 million), compared to a loss of US$6.21 million in 1Q17. Other gains saw a US$31.6 million increase to US$32.0 million, compared to US$459,000 last year. This was mainly due to US$31.2 million received from settlement of patent lawsuits. Revenue dropped 7% to US$16.1 million. Shares in Creative closed at $1.18 on Thursday.
The Dow and S&P 500 eked out record closing highs on Thursday, turning higher at the last minute after a Politico report that Federal Reserve Governor Jerome Powell is the leading candidate for the nominee for Fed chair. The Dow Jones Industrial Average rose 5.44 points, or 0.02%, to end at 23,163.04, the S&P 500 gained 0.84 point, or 0.03%, to 2,562.1 and the Nasdaq Composite dropped 19.15 points, or 0.29%, to 6,605.07.
The benchmark Straits Times Index (STI) added 5.88 points or 0.18% to finish the session at 3,334.91, supported by some banking and property stocks. Turnover for the day came in at 3.2 billion units valued at $1.6 billion. Excluding warrants, the advance-decline score was 180 to 285.