Singapore
Wired Daily
Page 2
2Q12 net earnings for Sakari Resources were below
expectations, dragged down by one-off tax charges. ASPs
held up in 2Q, despite sliding coal prices. While volumes
from Jembayan mine should ramp up significantly in
2H12, the key to earnings will still be coal prices.
Benchmark Newcastle coal prices have been in the
US$80-85/ton range in recent weeks, and upward
momentum is lacking, given abundant supplies and
macro uncertainties. This could cap share price
performance in the near term, despite seemingly
attractive valuations. We will provide more details after
briefing today.
Underlying 1Q13 net profits of S$36.6m for Singapore
Post were above estimates; 1.25Scts DPS in line.
Operating costs are still rising faster than revenues.
Business transformation is underway but earnings
turnaround could take a while. Maintain HOLD for 6%
yield; TP S$1.04.
Luye Pharma Group has been suspended as its public
float fell below 10% after its majority shareholder raised
its stake to 92.63% as a result of married trades made
last Friday. Luye Pharmaceutical Investment had acquired
about 75m shares at $1.30 apiece in married trades. This
took its stake from 77.41% previously to 92.63%,
triggering the suspension.
Dapai International is expected to record a net loss for
2Q12 and half year (1H12) ended 30 June 2012, due to
the substantial downward pricing adjustments for its
products in order to remain competitive.
GOME Electrical Appliances is expected to record a net
loss for the six months ended 30 June 2012, primarily due
to a drop in the Group’s sales revenue and loss
attributable to the e-commerce business.
Trek 2000 also issued profit guidance. The group is
expected to report a loss for 2Q12 and the six months
ended 30th June, 2012 due mainly to a one-time writeoff
of ASIC chips due to a design flaw. The group has
taken action and rectified the design flaw.
Courage Marine expects to record a greater net loss for
1H12 as compared to the three months ended 31 March
2012. The expected loss was mainly attributable to (i) the
cumulative losses on disposal of vessels arising from the
disposal of 4 of the Group’s older vessels and (ii) the
continuing challenging operating environment for cargo
shipment, necessitating provisions for impairment losses
of the group’s remaining vessels.
Share Buy-Back
Company D.O.T . Buy /Sell No.of shares S$/shr
Ho Bee Investment Limited 30-Jul-12 Share Buy-Back 400,000 1.2200
Ho Bee Investment Limited 27-Jul-12 Share Buy-Back 300,000 1.2167
Ho Bee Investment Limited 26-Jul-12 Share Buy-Back 394,000 1.2150
AEM Holdings Ltd 25-Jul-12 Share Buy-Back 2,500,000 0.0850
HG Metal Manufacturing Ltd 25-Jul-12 Share Buy-Back 20,000 0.0820
Ho Bee Investment Limited 25-Jul-12 Share Buy-Back 426,000 1.2138
Ho Bee Investment Limited 24-Jul-12 Share Buy-Back 563,000 1.2094
San Teh Limited 24-Jul-12 Share Buy -Back 242,000 0.2900
CNA Group Ltd 23-Jul-12 Share Buy-Back 25,000 0.1076
HG Metal Manufacturing Ltd 23-Jul-12 Share Buy-Back 1,071,000 0.0829
Ho Bee Investment Limited 23-Jul-12 Share Buy-Back 450,000 1.2094
KSH Holdings Limited 20-Jul-12 Share Buy-Back 488,000 0.2450
Viking Offshore and Marine 20-J ul-12 Share Buy-Back 40,000 0.1080
Hyflux Ltd 19-Jul-12 Share Buy-Back 240,000 1.4104
Pan-United Corporation Ltd 19-Jul-12 Share Buy-Back 105,000 0.5831
Wee Hur Holdings Ltd 19-Jul-12 Share Buy-Back 260,000 0.2800
Hyflux Ltd 18-Jul-12 Share Buy-Back 661,000 1.4137
Pan-United Corporation Ltd 18-Jul-12 Share Buy-Back 164,000 0.5792
Overseas-Chinese Banking Corp 17-J ul-12 Share Buy-Back 200,000 9.2700
Wee Hur Holdings Ltd 17-Jul-12 Share Buy-Back 625,000 0.2800
SGX Masnet