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The week of 18 August– 24 August 2016
Volume 28 Number 01
LIAN BENG
CNTD
Its wholly-owned subsidiaries, Arch Capital Ltd and Hillgo Asia Ltd
have filed a petition to wind up Neo Telemedia Ltd under Section
327 of the Companies Winding Up and Miscellaneous Provisions
Ordinance (Chapter 32) of Hong Kong in the High Court of Hong
Kong on 15 Aug 2016.
Revenue from continuing operations for 6 months ended
30/06/2016 jumped 82.87% to RMB108.6 mln. Pretax profit from
continuing operations soared 983.2% to RMB112.2 mln. Net loss
turned to a profit of RMB111.8 mln. Net earnings per share were
1.14 cents. No dividend declared.
i
Capital retains its Buy below
HK$0.27/hold rating.
AGL
ASCIANO
It has received notification from one of the four owners of Portland
Aluminium smelter in Victoria terminating its electricity hedging
contracts with AGL which were due to take effect in Nov 2016.
As there is a 12-month termination notice period, the termination
will occur in Aug 2017.
Revenue for 12 months ended 30/06/2016 slid 5.80% to A$3.575
bln. Pretax profit fell 27.46% to A$367.8 mln. Net profit dropped
24.36% to A$272.0 mln. Net earnings per share were 28.0 cents.
No dividend declared.
i
Capital retains its Buy below A$4.10 rating.
HONG KONG EXCHANGE (HKEx)
AUSTRALIA STOCK EXCHANGE (ASX)
KINGSMEN
Revenue for 6 months ended 30/06/2016 rose 10.82% to S$149.4
mln. Pretax profit plunged 56.67% to S$2.028 mln. Net profit
decreased 40.27% to S$2.302 mln. Net earnings per share were
1.17 cents. 1.0 cent dividend declared.
i
Capital retains its Buy
below S$0.445 rating.
CWT
Revenue for 6 months ended 30/06/2016 dropped 14.72% to
S$4.242 bln. Pretax profit decreased 21.70% to S$52.31 mln.
Net profit declined 32.61% to S$37.34 mln. Net earnings per
share were 6.22 cents. No dividend declared.
i
Capital retains its
buy below S$0.80/Hold rating.
GOLDENAGRI
Revenue for 6 months ended 30/06/2016 inched down 4.40% to
US$3.235 bln. Pretax profit increased 49.24% to US$26.33 mln.
Net profit soared 1753.93% to US$133.6 mln. Net earnings per
share were 1.05 cents. No dividend declared.
i
Capital retains its
Sell above S$0.40 rating.
HRGLASS
Revenue for 3 months ended 30/06/2016 slid 7.00% to S$148.2
mln. Pretax profit dropped 21.35% to S$10.74 mln. Net profit
decreased 21.83% to S$8.188 mln. Net earnings per share were
1.16 cents. No dividend declared.
i
Capital retains its Buy below
S$0.56 rating.
COMFORTDELGO
Revenue for 6 months ended 30/06/2016 inched up 0.86% to
S$2.018 bln. Pretax profit edged up 4.64% to S$234.5 mln. Net
profit climbed 6.80% to S$158.6 mln. Net earnings per share
were 7.37 cents. 4.25 cents dividend declared.
i
Capital retains
its Hold rating.
SINGTEL
[i] Its wholly owned subsidiary, Singtel Global Investment P/L has
entered into a conditional share purchase agreement with Aspen
Holdings Ltd to acquire a 21% stake in Intouch Holdings Public
Co Ltd for S$1.585 bln. Its wholly owned subsidiary, Magenta
Investments Ltd has entered into a conditional share purchase
agreement with MacRitchie Investments P/L to acquire a 7.39%
stake in Bharti Telecom Limited for S$884.0 mln. The acquisitions
will be funded through internal cash, short-term debt and share
Its wholly owned subsidiary, SMRT Buses Ltd has entered into a
master framework for bus services agreement and 3 negotiated
bus services contracts in relation to the Sembawang-Yishun bus
package, the Choa Chu Kang-Bukit Panjang bus package, and
the Woodlands bus package, and together with Sembawang–
Yishun negotiated contract and the Choa Chu Kang–Bukit Panjang
negotiated contract with the Land Transport Authority to continue
providing its existing bus service following the expiry of the 10-year
bus service operating license. The estimated aggregate contract
fee is approximately S$1.865 bln and it will take effect from 1 Sep
2016 for up to 7 years.
SMRT
Revenue for 6 months ended 30/06/2016 slid 7.46% to HK$2.532
bln. Pretax profit edged down 3.06% to HK$285.0 mln. Net profit
inched down 1.92% to HK$204.0mln. Net earnings per share were
13.0 cents. 12.5 cents dividend declared.
i
Capital retains its Buy
below HK$4.00/Hold rating.
GIORDANO
DOMINO PIZZA
Revenue for 12 months ended 3/07/2016 advanced 30.89% to
A$705.7 mln. Pretax profit grew 28.60% to A$125.8 mln. Net profit
rose 28.70% to A$82.43 mln. Net earnings per share were 94.4
cents. 38.8 cents dividend declared.
i
Capital retains its Sell rating.
G8
Revenue for 6 months ending 30/06/2016 advanced 16.17% to
A$361.2 mln. Pretax profit slid 7.80% to A$34.69 mln. Net profit
declined 11.93% to A$24.87 mln. Net earnings per share were 6.62
cents. 6.0 cents dividend declared.
i
Capital retains its Sell rating.
Revenue for 6 months ended 30/06/2016 edged up 0.83% to
US$4.281 bln. Pretax profit rose 22.92% to US$302.6 mln. Net
profit grew 18.28% to US$248.7 mln. Net earnings per share were
15.11 cents. HK$0.80 dividend declared.
i
Capital retains its Buy
below HK$22.00/Hold rating.
YUE YUEN
CITYNEON
Revenue for 6 months ended 30/06/2016 rose 13.84% to S$46.32
mln. Pretax loss turned to a profit of S$5.724 mln. Net loss turned
to a profit of S$4.742 mln. Net earnings per share were 2.1 cents.
No dividend declared.
i
Capital retains its Sell rating.
CENTURION
[i] The Urban Redevelopment Authority (URA) is unable to allow its
request to rectify the discrepancy by increasing the bed capacity
of Westlife Toh Guan recorded in URA from 7,820 to 8,628. The
number of workers housed in Westlife Toh Guan should also be
reduced to 7,820 as originally approved by URA in 2011. Hence,
the bed capacity in Westlife Toh Guan will be reduced by 808 beds
and any excess workers will be shifted out from the dormitory
accordingly. [ii] Revenue for 6 months ended 30/06/2016 grew
11.03% to S$57.37 mln. Pretax profit slid 6.89% to S$21.98 mln.
Net profit dipped 5.44% to S$18.22 mln. Net earnings per share
were 2.44 cents. 1.0 cent dividend declared.
i
Capital retains its
Buy below S$0.315/Hold rating.
SINGAPORE EXCHANGE (SGX)
placement proceeds. The acquisitions will increase its exposure
to the high growth telecom sectors in Thailand and India which are
driven by rising mobile data penetration and increased usage. [ii]
Revenue for 3 months ended 30/06/2016 slid 7.14% to S$3.908 bln.
Pretax profit remained flat at S$1.148 bln. Net profit remained flat at
S$944.3 mln. Net earnings per share were 5.93 cents. No dividend
recommended.
i
Capital retains its Buy below S$3.96/Hold rating.
E
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Capital Dynamics Sdn Bhd