TODAY'S HEADLINE
KINGSMEN Q2 PROFIT RISES 15.3% TO $5.17M  
Communications and events group Kingsmen Creatives boosted its second'quarter attributable pro't by 15.3 per cent to $5.17 million from $4.5 million a year earlier, as revenue rose 25 per cent to $70.89 million this year.

For the 'scal 'rst half ended June 30, 2012, pro't rose 23.5 per cent over the year to $7.24 million from $5.86 million. Revenue in the same period rose 27 per cent to $117.81 million from $92.84 million a year earlier.

The biggest contributor remained the exhibitions and museums division, whose revenue was $30.5 million during the April'June quarter, an increase of 43.5 per cent from $21.3 million a year earlier.
It successfully completed key projects such as works for Hong Kong Disneyland, Art Stage, Singapore Airshow, Asia Paci'c Maritime, Yeosu World Expo, Tax Free Asia Paci'c and Food & Hotel Asia. Works at Gardens by the Bay in Singapore, Guangzhou Hengda Exhibitions Centre, Hong Kong Maritime Museum and Sotheby's Visitor Centre in Hong Kong are ongoing, while new parcels of works for Universal Studios Singapore have started.

Kingsmen's Interiors division also performed well, recording higher revenue of $55.4 million in H1, up from $52 million last year. Key contributors to the division include Abercrombie and Fitch, Aldo, Burberry, Coach, Fendi, H&M, Hollister, LVMH, Marks & Spencer, Polo Ralph Lauren, Swarovski and Uniqlo for shop 't'out and 'xture roll'out across Asia and the world.

Benedict Soh, executive chairman of Kingsmen, attributed the strong performance in the 'rst half to the company's e'orts to broaden its business and client base in the exhibitions, thematic, interiors, design and alternative marketing businesses, despite the weak globaleconomy.

NEWS BUZZ
Golden Agri'Resources (S$0.695) 
Q2 pro't slides 40% to US$108m  
Golden Agri'Resources' 2Q net pro't slid 40% from a year earlier to US$108mil, pressured by lower crude palm oil prices and congestion at ports in Indonesia. EPS for the quarter were nine US cents. Net pro't for 1H12 dropped 33% year'on'year to US$269mil for its Indonesian operations, while its Chinese operations' net pro't plunged 94% to US$1mil. This was due to unrealised foreign'exchange losses on US dollar'based loans, Golden Agri said. The company has set aside US$500mil for investments this year, and has spent US$181mil so far. It is also looking at extending its distribution reach in India and Europe, possibly through joint ventures.

Genting Singapore (S$1.28) 
Q2 net pro't falls 43%  
Genting Singapore posted a 37% fall in net pro't to    $343.96mil, while revenue was down 9% at $1.49bil for the 'rst half of the year. EPS for the six months ended June came to 2.81 cents and NAV per share rose to 52.3. The company continues to generate steady cash'ow from the integrated resort with healthy growth in the hotel and Universal Studios Singapore businesses, despite the gaming segment seeing lower business vo'lume in the premium player business. It has added several new projects to expand its business, such as the luxury spa ESPA, two exclusive treetop lo''s and RWS Invites, a non'casino loyalty programme launched in April to drive loyalty and repeat visits to its non'gaming products.

SC Global (S$0.975) 
Posts Q2 loss of $21.7m
SC Global Developments swung into the red in the 2Q12, recording a net loss of $21.72mil, compared with a net pro't of $46.29mil in the year'ago period. The loss was mainly attributed to an allowance for asset impairment of $65.1mil made by its subsidiary, AVJennings (AVJ). Excluding these allowances, SC Global would have been pro'table for Q2. Group revenue, which mainly comprises contributions from sales of new units and progressive recognition of the group's development project, Seven Palms Sentosa Cove, fell 53% to $123.09mil.

Keppel Corporation (S$11.40) 
Clinches US$950m deals from Petrobras  
Keppel   Corporation's Brazilian unit has secured 2 contracts valued at US$950mil, (S$1.2bil), li''ing its year'to'date new orders to $8.4bil and net order book to $13.9bil. On top of the contracts, Petrobras has an option for a similar contract to be exercised by the 1Q14. Keppel said these two contracts are not expected to have a material impact on its NTA or EPS for the current 'nancial year.
Source: The Business Times

Source: AmFraser