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Singtel’s Optus Welcomes Shift To NBN

Singapore Telecommunications Limited  announced Monday that its subsidiary, Optus, welcomed the ACCC’s draft decision to approve the agreement between Optus and NBN Co to migrate Hybrid Fibre Coaxial (HFC) cable customers to the new National Broadband Network.

Paul O’Sullivan, Chief Country Officer, Australia said, “The ACCC’s draft decision recognises the practical outcome of Optus’ agreement with NBN Co will be to drive significantly greater retail competition and product innovation, which can only benefit telecommunications consumers.”

Once the decision is approved, Optus can focus its resources in “offering a greater depth and breadth of services to retail customers on a single national platform.”

Singtel closed Monday at S$3.080.

Tat Hong’s FY2012 Net Profits Surges 63 Per cent

Tat Hong Holdings Limited reported Monday a 63-per cent surge in net profit attributable to shareholders to S$42.3 million in the year ending 31 March 2012 as compared to the earnings a year ago. This was achieved on the back of a 23-per cent increase in revenue for the same period.

The main attributing factor to the growth in net profits was the increase in demands for equipment and services for post-disaster recovery in Australia.

Tat Hong’s Managing Director, Roland Ng expressed his optimism for the year ahead due to “encouraging demand for equipment and services arising from on-going post-disaster rebuilding programmes and growth opportunities from the resource and infrastructural sectors in Western Australia and Queensland.”

In appreciation for their shareholders’ support, the group proposed a final dividend payout of S$0.015 per ordinary and convertible share, payable on 22 August 2012.

Tat Hong Holdings Ltd closed Monday at S$1.025.

Sembcorp Completes Tests On Oman’s Water And Power Plant

Sembcorp Industries Limited announced Monday that its joint venture, Sembcorp Salalah Power and Water Company, has successfully completed the acceptance tests for its US$1-billion Salalah Independent Water and Power Plant (Salalah IWPP) in Oman.

The facility will provide power and water under a 15-year power and water purchase agreement with the Oman Power and Water Procurement Company, which is wholly-owned by the Government of Oman.

Tang Kin Fei, Sembcorp’s Group President & CEO, said, “The successful completion of the

Salalah IWPP will be a significant milestone for Sembcorp and reaffirms our capabilities as a

leading global energy and water player.”

Together with the Salalah IWPP, Sembcorp’s projects in the Middle East amount to US$2.9 billion in project costs, with gross capacity in operation in the region reaching 1,383 megawatts of power and 115 million imperial gallons (524,000 cubic metres) per day of water.

Sembcorp Industries Ltd closed Monday at S$4.920.

Boustead’s FY2012 Bottomline Gains 6 Per cent

Boustead Singapore Limited reported Monday that its net profit for FY2012 (ending March 31) grew by 6 per cent as compared to the previous year despite a 27-per cent decrease in revenue.

The group posted revenue of S$408.7 million and earnings of S$55.6 million for FY2012.

The decrease in the group’s revenue for FY2012 is due largely to its continued focus on developing projects for future recurring income.

Commenting on the year ahead, Wong Fong Fui, Chairman and Group Chief Executive Officer of Boustead said, “Having secured S$400 million in new contracts during FY2012 in addition to healthy enquiry pipelines across the group, Boustead is in a strong position in FY2013.”

The group’s financial position remained healthy with net cash of S$170.5 million as at the end of FY2012.  In addition, the group held S$56.7 million in held-for-trading and available-for-sale investments.

Boustead has proposed a final dividend of S$0.03 per share.

Boustead Singapore Limited closed Monday at S$0.865.