Towards Financial Freedom
DBSV S'pore Wired Daily 5 November 2013
Today Focus
Genting Singapore - Lacks short-term catalysts; maintain HOLD, TP S$1.64
Genting Singapore's 3Q13 results in line, strong growth in rolling chip cushioned weaker mass volume. Limited
clarity on potential M&A; Japan gaming liberalisation likely delayed to 1Q14. Maintain HOLD, TP raised to S$1.64
(previous S$1.42) in line with improvement in regional sector valuation.
Falcon Energy Group posted a 776% rise in net profit to US$34.4m in 1H14. This was on the back of a 511% jump in revenue to US$209.7m. Revenue rose substantially on the back of business expansion by moving up the value chain in oil and gas services industry. With buoyant demand and stable oil prices conducive to rising levels of exploration and production activities, the Group is optimistic about the business prospects for Marine, Drilling Services, Oilfield Projects and Oilfield Services Divisions.
HanKore Environment is proposing to consolidate every ten (10) existing shares into one (1) share. The proposed share consolidation will rationalise the share capital of the company by reducing the number of shares outstanding.
Viking Offshore & Marine has entered into an agreement to place out 40m new shares worth S$3.2m to
Singaporean rig building veteran Mr Tan Boy Tee plus an option of the same quantity and amount, to be exercised any time during the next 90 days. Mr Tan was the cofounder and controlling shareholder of Labroy Marine, a then-SGX listed offshore and marine specialist which was sold to Dubai Drydocks World LLC for S$2.4 bn in January 2008.
Viking Offshore & Marine also announced that it will venture into the mainstream offshore rig-building and rig
charter market by partnering Singaporean rig building veteran Mr Chan Kwan Bian to construct a drilling jack-up
rig at a cost of approximately US$180m. Mr Chan is a renowned industry veteran within the offshore and
marine industry with extensive experiences in the rig and shipbuilding space. He was also a co-founder of Labroy
Marine.
Technics Oil and Gas announced that its 40.2% associate company - Norr Offshore Group has been awarded its 1st Micro LNG plant for the supply of process equipments and accessories for Indonesia.
Swee Hong is expected to report a loss for 1Q14, attributable to decline in revenue and significant costs increases.
Global manufacturing activity increased at its fastest pace in over two years last month on a surge in new orders that led factories to take on more staff. JPMorgan's Global Manufacturing Purchasing Managers' Index rose to 52.1 from September's 51.8, above the 50 mark that indicates growth for the 11th month and notching up its highest reading since May 2011.
Airline share prices in the US were up 13% last month over September and have surged 76% year-to-date. However, in contrast, Asia-Pacific carriers have been facing some turbulence this year with share values reflecting the weaker financial performance, according to a report from the International Air Transport Association (Iata). The global outlook remains cautiously optimistic, with rising business confidence and export orders.
US markets continue its climb higher ahead of the slew of economic data releases this week. Attention once again turns to the monthly employment data releases, this time for October. Consensus expects non-farm payrolls to come in at 120k, slightly below September's 148k figure while the unemployment rate is seen inching higher to 7.3% versus September's 7.2%. This increases the odds that the Fed will delay QE tapering till next year that underpins stocks heading into Friday's data release.
Source: DBSV
Related Stocks
| Chart | Stock Name | Last | Change | Volume |
|---|
Market Buzz
More articles on Towards Financial Freedom
Duty Free International Ltd. - A duty-free giant in the making
Created by kiasutrader | Oct 17, 2016
Cityneon Holdings - 'Avengers' showcasing in the Land Down Under
Created by kiasutrader | Jun 07, 2016
Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment
Featured Posts
Latest Videos
Apps
Top Articles
1
SGX Market Updates
US Magnificent Seven Stock DLCs Introduced for Asian Market Hours
2
RHB Investment Research Reports
3
SGX Market Updates
4
5
CEO Morning Brief
Keppel DC REIT Buys Data Centres in Singapore’s Genting Lane for S$1b
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
