CCT Acquires Office Building for S$430 million
CapitaCommercial Trust (CCT) announced Wednesday it has agreed to buy an office building on the outskirts of Singapore’s Central Business District for S$430.0 million.
The acquisition will be funded with existing cash and bank facilities, without the need to raise equity, CCT said in a statement.
The purchase price for Twenty Anson, a two-year-old office tower, works out to S$2,121 per square foot of net lettable area.
CapitaCommercial Trust closed on Wednesday at S$1.170.
Wilmar’s 4Q2011 Net Profit Up 57 Per cent on Sugar Boost
Wilmar International Limited reported Wednesday a better-than-expected 57-per cent increase in net profit for the fourth quarter ending 31 December 2011 (4Q2011), helped by contributions from its expanded sugar operations.
The group posted a net profit of US$500.0 million (S$629.0 million), up from US$318.6 million a year ago. It was the highest quarterly profit since September 2009.
Wilmar’s earnings in 2010 were hit by weak margins at its oilseeds and grains business and ill-timed purchases of the commodities.
Wilmar, which owns palm oil plantations in Indonesia and Malaysia as well as sugar operations in Australia, said it is well positioned to capture agri-related expansion opportunities that might arise this year.
Wilmar International Limited closed on Wednesday at S$5.220.
MIIF’s 2011 Bottomline Surges to S$48.2 million
Macquarie International Infrastructure Fund Limited (MIIF) posted Wednesday a bottomline for the year ending 31 December 2011 of S$48.2 million, up from S$37.0 million from the previous year.
Investment income of S$57.7 million was 36.7 per cent higher than the previous year. Income from Taiwan Broadband Communications increased to S$29.9 million, while that from Hua Nan Expressway and Changshu Xinghua Port rose to S$22.5 million and S$5.3 million respectively. This was partially offset by higher management fees.
MIIF has declared a dividend of S$0.0275 per share for the six months to 31 December 2011. The ex-dividend date is 7 March 2012 with the dividend expected to be paid on 26 March 2012.
Macquarie International Infrastructure Fund Limited closed on Wednesday at S$0.580.
Ezion Clinches US$118-million Contract, 4Q2011 Net Profit Down 23.7 Per cent
Ezion Holdings Limited announced Wednesday that it has secured a three-year charter contract worth up to US$118.0 million (S$148.6 million) to provide a service rig to a European-based multinational oil firm.
The group said the rig will be used to support the oil company’s oil and gas activities in offshore Myanmar.
Meanwhile, Ezion said its net profit for the fourth quarter ending 31 December 2011 decreased 23.7 per cent year-on-year to US$10.49 million from US$13.75 million.
Turnover fell 22.9 per cent to US$27.27 million as contribution from the non-recurring and non-chartering income was lower.
Full-year 2011 earnings rose 44.6 per cent year-on-year to US$58.18 million from US$40.20 million despite an 8.7-per cent slip in revenue to US$106.95 million from US$117.09 million a year ago.
Chip Eng Seng’s 4Q2011 Bottomline Falls 28.1 Per cent
Chip Eng Seng Corporation Limited reported Wednesday that its net profit for the fourth quarter ending 31 December 2011 declined 28.1 per cent year-on-year to S$28.83 million from S$40.08 million.
Turnover tumbled 58 per cent to S$57.5 million, with lower revenue from both its construction and property development segments.
For the full year 2011, the group posted a 29-per cent decrease in earnings to S$123.7 million from a restated S$174.26 million a year ago.
Turnover was down 24.5 per cent to S$359.98 million from a restated S$477.03 million in 2010.
A first and final dividend of S$0.04 per share, similar to a year ago, has been proposed.
Chip Eng Seng Corporation Limited closed on Wednesday at S$0.495.
Leeden Limited to Stop Trading on March 5
Leeden Limited announced Wednesday that the last trading day of its shares is on 5 March 2012.
Trading of the shares will be suspended with effect from 9 am on March 6.
The group said it will make an announcement on the definitive date for the delisting in due course after the close of the exit offer.
Leeden Limited closed on Wednesday at S$0.565.
NOL Posts Net Loss in 2011
Neptune Orient Lines Limited (NOL) sunk into the red Wednesday with a net loss of US$478.18 million (S$600.0 million) for the full year ending 31 December 2011.
A year ago, it reported a profit of US$460.94 million.
Cumulative turnover for the year slipped 2 per cent year-on-year to US$9.21 billion from US$9.42 billion.
Neptune Orient Lines Limited closed on Wednesday at S$1.425.
Transpac Eyes 1-for-3 Bonus Issue
Transpac Industrial Holdings Limited announced Wednesday that it is planning a 1-for-3 bonus issue to improve its trading liquidity and capital structure.
The bonus issue will be effected by capitalising up to S$90.83 million from its capital reserve account, assuming an issue price of S$1.55 per bonus share.
The proposed issue is subject to approvals by the Singapore Exchange and the group’s shareholders.
Transpac Industrial Holdings Limited closed on Wednesday at S$1.770.
Genting Singapore Back to Black in 4Q2011
Genting Singapore Plc reported Wednesday that it has returned to the black with a net profit of S$262.04 million for the fourth quarter ending 31 December 2011, from a net loss of S$150.33 million a year ago.
Revenue for the quarter was at S$786.27 million, compared with S$782.41 million a year ago.
The group said business at its Resorts World Sentosa (RWS) remained “solid” in the fourth quarter of 2011, with revenue of S$782.5 million.
The non-gaming segment continued to grow as Universal Studio Singapore attracted about 10,250 visitors daily with an average spending of S$86 a visitor. RWS’s hotel occupancy was 89 per cent with an average room rate of S$322.
For the full year 2011, net profit was at S$1.02 billion, compared with S$37.76 million a year ago.
Group revenue for the year was S$3.22 billion, up 18 per cent year-on-year due to the full-year operations of RWS in 2011.
Genting has proposed a final dividend of S$0.01 per ordinary share. No dividend was declared previously.
Genting Singapore Plc closed on Wednesday at S$1.665.
