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DBS Books 13% Surge in Earnings

DBS Group Holdings Limited Friday announced record half-year (six months ended 30 June 2012) net profits of S$1.74 billion for the first six months of 2012, up 13 per cent from a year ago. Improved product and distribution capabilities, a strong balance sheet and consistent execution resulted in sustained business growth as half-year total income crossed S$4 billion for the first time.

Net interest income rose 15 per cent from a year ago to a new high of S$2.66 billion. Loans expanded 22 per cent or S$ 36 billion from June 2011 to S$205 billion. The increase was led by regional corporate borrowing, with trade loans accounting for half the increase. Net interest margin eased five basis points to 1.75 per cent.

Piyush Gupta said, “DBS turned in another quarter of solid performance despite a difficult operating environment, characterised by the global macroeconomic slowdown and volatile markets. This marks ten quarters of strong growth and a record performance in the first half of this year. Our ability to execute bears testimony to the strength of our regional franchise and the calibre of our regional management team. I believe that we have what it takes to become a leading Asian bank.”

The company declared a first-half dividend of 28 S-cents per share.

DBS Group Holdings Limited closed Friday at S$14.750.


Singapore Airlines’ SilkAir Orders 68 Aircraft From Boeing

Singapore Airlines Limited Friday announced that its regional wing, SilkAir has signed a letter of intent to purchase up to 68 new aircraft from Boeing.

The order is the largest in SilkAir’s history and remains subject to the negotiation of a final purchase agreement.

It will comprise firm orders for 54 aircraft and purchase rights for another 14. Firm orders will comprise 23 Boeing 737-800s and 31 Boeing 737 MAX 8s. SilkAir will have the flexibility to switch to other variants within the B737 product range.

The firm-ordered aircraft are valued at US$4.9 billion based on current Boeing list prices. Deliveries are due to begin in 2014 and continue to 2021, by which time the airline’s fleet will have more than doubled in size.

Singapore Airlines Limited closed Friday at S$10.880.


AnnAik Leases Site for Warehouse, Office

AnnAik Limited Friday announced that it accepted an offer from the Jurong Town Corporation (JTC) for the lease of the whole of the premises at 52 Tuas Avenue 9 Singapore 639193 on 3 August 2012.

The property is a leasehold property from JTC with a maximum gross plot ratio of 1.40 and covers a land area of approximately 11,633.10 square metres.

The property is leased to the company for a term of 30 years and is subjected to the company’s investment of at least S$20,515,000 in the property and the development of the property to a plot ratio of no less than 0.95 within 3 years from the commencement date.


Sembcorp Industries Chalks Up 22% Surge in 1H2012 Revenue

Sembcorp Industries Limited Friday announced that a robust performance in the first six months of 2012 (1H2012). Net profit grew 10 per cent to S$367.4 million in 1H2012 from S$335.0 million in 1H2011, while turnover increased 22 per cent to S$5.1 billion from S$4.2 billion.

Sembcorp’s main profit contributors continued to be its Utilities and Marine businesses, which contributed 51 per cent and 41 per cent of Group net profit respectively.

Tang Kin Fei, Group President & CEO of Sembcorp Industries said, “In the first half of the year, Sembcorp delivered a robust performance, underpinned by strong profit growth from our Utilities business, which saw its net profit increase by 41 per cent.

Underpinned by resilient businesses and a healthy pipeline of projects, company will continue to make every effort to position its businesses for sustained growth.

Sembcorp Industries Limited closed Friday at S$5.290.


SoundGlobal Clinches S$16.0 Million BOT Deal

Sound Global Limited Friday announced that it entered into an agreement to undertake the second phase to expand the existing capacity as well as to increase the existing discharge standard of the wastewater treatment plant BOT project in Jingbian County, Shaanxi Province, the People’s Republic of China.

The project aims to expand the plant’s capacity to 30,000 tonnes per day with discharged water quality reaching Class I Category A discharge standards as outlined in the “Discharge standard of pollutants for municipal wastewater treatment plant” thus fulfilling the discharge requirements for the Yellow River, Shaanxi section

The project will be built and operated under the BOT arrangement with an investment amount of approximately RMB81.49 million (S$16 million).

The operational service tariff is at 1.55 yuan per tonne, with a concession period of 30 years.

Sound Global Limited closed Friday at S$0.590.